U.S. Markets closed

European Markets are Cautious after Last Week’s Rallies, Await New York Open


European and Asian markets drifted down in morning trading Monday, as traders took a break following last week’s rallies and awaited the reopening of the US markets after the July 4 holiday. Disappointing German industrial output weighed on Eurozone markets. Lufthansa flies on planned joint venture with Air China, while Airbus loses height in spite of big Chinese helicopter order. French car maker Renault’s sees auto sales accelerate in first half. Global brewer SABMiller falls, on news it will dispose of a 39.6% stake in South African hotel and entertainment group Tsogo Sun Holdings, valued at $1.09 billion. But Italian broadcaster Mediaset rises as Spanish telecoms group Telefonica agrees to buy 11% of the company.