Before the open: UK construction data due out later as European markets open sluggish

European markets are expected to open with little change this morning, with minimal movement in Asia and a weak end for the Dow last night.

The bailout programmes for Greece and Cyprus will be discussed this afternoon by European financial ministers.

In the UK, data on construction output is out at 9.30 and is expected to show a good start for the sector during the third quarter.

US month-on-month retail sales, due out this afternoon, are predicted up 0.4 per cent from 0.2 per cent.

Key events:

  • UK July construction output at 09.30.
  • Eurozone second quarter employment change at 10.00. Expected up from -0.5 per cent to -0.2 per cent.
  • US August retail sales at 13.30. Expected up from 0.2 per cent to 0.4 per cent.
  • US September consumer sentiment at 14.55. Expected to fall from 82.1 to 82.0.