Europe Lower, Asia Higher
European stock markets were lower on Monday. In London, the Financial Times Stock Exchange 100 lost 2.40 points, or 0.05%, to close at 5041.80. The FTSE closed in negative territory as British Energy's disappointing trading update weighed and Wall Street trades flat. BE reported third-quarter turnover of 412 million pounds and third-quarter adjusted EBITDA of 13 million pounds, lower than analysts' forecasts. It posted a quarterly loss on ordinary activities before tax of 87 million pounds. In the telco sector, mmO2 and BT profited after target price increases and upgrades from brokers. Finally, the Manchester United saga continues with JP McManus and John Magnier, who own 29% of the club, set to reject any formal takeover bid from Malcolm Glazer, according to The Sunday Telegraph.
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