Asian and European Markets are in cautious mood overnight with little news to offer direction. Although Germany bucks expectations with high industrial output figures, Eurozone GDP figures put a damper on economic expectations after yesterday’s European Central Bank interest rate cut. Two judgments in the US courts could cost the big European banks and oil major BP vast additional sums, but their share prices seem unaffected in morning trading. Mining stocks are hit by slide in iron ore prices, with Australian market hit by the gloom in the sector. Bob Diamond’s Atlas Mara ups its stake in Nigerian bank.

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