In US economic data, the employment trends index rose from 122.8 to 123.24 in November.
European shares fell on Monday with a credit downgrade for Italy weighing on sentiment. S&P downgraded Italy from BBB to BBB-, one notch above junk. Economic data in China and Japan was also soft, while lower oil prices weighed on the energy sector. The FTSEurofirst 300 index was down by 0.7 per cent with the German Dax lower by 0.7 per cent while the UK lost 1.1 per cent. In London trade shares in BHP Billiton fell by 2.5 per cent while Rio Tinto eased 0.5 per cent.