LONDON (TheDeal) -- There's plenty of action in European markets Monday, despite continued nervousness about negotiations with Greece and some downsizing of expectations on the British economy. The latest blows come from rating agency Moody's, which says the British government is unlikely to succeed in its aim of running a budget surplus by 2019, and from the Confederation of British Industry, which cut its growth forecast for 2015 from 2.7% to 2.3%.
In Germany, on the other hand, industrial production and the country's trade surplus are up. Outside Western Europe, the Turkish lira and the Istanbul market have taken a hit as President Recep Tayyip Erdogan's AKP Party lost its majority in the weekend's elections. In China, both exports and imports were down in May, again raising investors' hopes of further stimulus measures.
In London, the FTSE 100 was down 0.06% at 6,800.38, while in Paris, the CAC 40 was down 0.6% at 4,891.01. In Frankfurt, the DAX was down 0.56% at 11,134. In Turkey, the Borsa Istanbul 100 was down 6.18% at 76,875.75.
In Germany, shares in Deutsche Bank (DB) jumped sharply on the weekend's announcement that co-CEOs Anshu Jain and Jürgen Fitschen are to resign, following poor reception of their recovery and reorganization plans at a shareholder meeting last month. Deutsche was trading up nearly 6% by late morning in Frankfurt at €29.24 a share.