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European stock markets First hour: Stocks decline in early trade
European stocks did not pick up the bullish sentiment that led the Wall Street higher and fall at the start. Yesterday the ECB started its massive bond-buying program worth euro 60 billion a month, also known as QE, quantitative easing. Continuing uncertainty over Greece weighs on the markets. The country remains in the focus as the proposed list of measures is far from complete, the head of Eurogroup Jeroen Dijsselbloem said on Sunday. On Monday ECB president Mario Draghi urged Greek officials to let return Eurozone-representatives to Greece in order to examine the government's books as a precondition for further financial aid. Greece agreed on allowing experts from the ECB and IMF to start their work on Wednesday.
French Industrial Production on a yearly basis grew in January by +0.6% compared to a previous reading of -1.3%. Month on month Industrial Production rose less-than-expected by +0.4%, compared with estimates of an increase of +0.8%. In December Industrial Production rose +1.5%.
At 10:00 GMT Eurozone's ECOFIN Meetings will start.
The FTSE 100 index is currently trading -0.20% quoted at 6,862.83. Germany's DAX 30 lost -0.21% trading at 11,558.07, France's CAC 40 is currently trading at 4,928.51 points, -0.18%.
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- IMF: currency devaluations due to policy easing cannot improve trade balance