Europe is expected to open lower

11.01.2016 / 08:26

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European equities are expected to open lower on Monday as the selloff in their Chinese counterparts continues.(Nikkei 225 Closed; Hang Seng: -2.45 %; S&P/ASX 200: -1.29 %; Shanghai Composite: -2.40 %; Topix Closed) The Shanghai composite was down 2.4 percent, while the Shenzhen Composite shed 3.5 percent. Last week, the Shanghai Composite lost all of its 2015 gains, falling by 9.97 percent in just five days.

In business news, the chief executive of Volkswagen Matthias Müller has apologized over last year's emissions scandal during his first U.S. trip as boss. Mueller announced that the company, which was embroiled in the emissions scandals three months ago, would invest more money in the U.S. and create more jobs

Prime Minister David Cameron said on Sunday that it would not be the "right answer" for Britons to vote to leave the European Union, but the government will have to make it work if they do

There are no major earnings or data releases Monday.

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Europe is expected to open lower

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