U.S. house prices rose in April for a third consecutive month, the latest sign the housing market is recovering. The S&P/Case Shiller composite index of 20 metropolitan areas rose 0.7 per cent on a seasonally adjusted basis.
A group of European officials on Tuesday proposed a series of adjustments to the single currency bloc which will be discussed at EU summit on Thursday. The measures range from allowing a central European authority to override national budgets to the issuing of common euro zone bonds.
Japanese stocks slid on Monday.
Swiss stocks extended losses on Monday.
U.K. stocks declined for a third consecutive day on Monday as investors awaited a European summit later this week.
Sales of new U.S. homes rose by more than expected in May as mortgage rates dropped. Purchases climbed to 369,000 in May, the highest level in more than two years and up by 7.6 per cent from the previous month, said the Commerce Department on Monday.
German Chancellor Angela Merkel rejected common euro-area bonds before a summit of European leaders this week. Merkel said debt sharing would be "economically wrong and counterproductive".
German business confidence fell by more than expected in June, reinforcing fears that the euro zone's largest economy is slowing. Ifo business climate index, which is based on a survey of 7,000 businesses, slid to 105.3 points from 106.9 points in May. "The German economy is slowing despite extremely accommodative interest rates and recent wage growth," said Annamaria Grimaldi, an economist at Intesa Sanpaolo SpA in
Japanese stocks lost ground on Friday after a report showed sales of previously owned homes in the world's largest economy declined by more than expected.
Swiss stocks retreated on Friday. The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, erased 0.10%, or 5.72 points, to 6,012.19. The broader Swiss Performance Index fell 0.17%, or 9.26 points, to 5,594.09.
U.K. industrial order expectations improved by more than expected in June, official data showed. An index measuring order expectations rose to minus 11 from minus 17 in May, the Confederation of British Industry said the previous week.
Manufacturing in the Philadelphia region contracted in June, a sign the economy is slowing. The Federal Reserve Bank of Philadelphia's general economic index declined to minus 16.6 in June, the lowest level since August, from minus 5.8 in May.
Japan's trade deficit widened by more than expected in May on increased fuel imports, while exports surged 10 per cent, easing concerns the Japanese economy is slowing. Deficit came in at 907.3 billion Yen, said the Ministry of Finance on Wednesday.
Swiss stocks declined on Wednesday, snapping a three-day winning streak, after a report showed investor confidence fell to the lowest level since January.
U.K. unemployment fell by 51,000 to 2.61 million in three months to April, said the Office for National Statistics on Wednesday. The number of people claiming for unemployment benefits rose by 8,100 to 1.60 million in May from April.
The Federal Reserve extended its monetary stimulus Wednesday in an effort to push borrowing costs lower by buying 267 billion dollars in long-term government securities.
Three Greek parties, New Democracy, Pasok and smaller Democratic Left, agreed on a coalition government on Wednesday with Antonis Samaras as prime minister and Vasilios Rapanos, National Bank of Greece chairman, as finance minister. The combined seat strength of the coalition amounts to 179 seats in parliament.
Japanese stocks retreated on Tuesday after borrowing costs in Spain rose above seven per cent.
Swiss stocks extended gains on Tuesday.
U.K. inflation eased unexpectedly to 2.8 per cent in May, the lowest level in more than a year, said the Office for National Statistics on Tuesday.
U.S. housing starts fell by 4.8 per cent in May led by slump in construction of apartments, while building permits rose to the highest level in four years, a sign the U.S. housing market remains firmly on track.
Economic expectations in Germany deteriorated by the most since 1998, data showed on Tuesday. An indicator of economic sentiment slid to -16.9 in June from 10.8 in May, said the Centre for European Economic Research (ZEW). A reading above zero indicates optimism, while a score below zero indicates pessimism.
Japanese stocks extended gains on Monday after Greek elections eased concern the nation would exit the euro.
Swiss stocks edged higher on Monday after Greek pro-bailout parties won enough seats to form a government.