Shares in Europe pulled back from a three-week high on Monday after the meeting of G20 finance ministers failed to produce any tangible plan to address slowing global growth.
The price of oil extended its decline from a six-week high posted on Friday, dragging on sentiment as investors moved into safe-havens including the Japanese yen and gold.
On the FTSE 100, mining stocks including Glencore (L:GLEN) and Antofagasta (L:ANTO) were top risers with banks including Standard Chartered (L:STAN) and HSBC (L:HSBA) underperforming. While industrial metals including copper and iron ore are lower on Monday, they remain close to the highs of this year.
Morrison's (L:MRW) shares rose as much as 5% after penning a deal with Amazon (O:AMZN) to supply products for the Amazon Prime Now and Pantry services. The deal should mean a big lift in sales for Morrison’s products, assuming ordering food from Amazon catches on. Time will tell whether by enabling Amazon’s entry into UK food delivery, Morrison’s has sown the seeds of its own demise. Shares of Amazon’s online food delivery competitor Ocado (L:OCDO), which also works with Morrison's, dropped over 6%.
US markets look set for a lower start in line with the weakness in Asia and European markets ahead of pending home sales data and the Chicago PMI.
USA pre-opening levels
S&P 500: 16 points lower at 1,932
Dow Jones: 131 points lower at 16,508
Nasdaq 100: 47 points lower at 4,188
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