UK and European stocks had a muted open this morning after Chinese PMI data indicating a larger-than-expected slowdown weighed on sentiment.

First quarter GDP data is due today from European countries including Germany and Spain and is expected to show further contraction. Investors will also be focused on European unemployment data due for release this morning.

First quarter earnings from Amazon, reporting after-hours in the US beat forecasts as did Barclays posting this morning. Astrazeneca, also reporting this morning, showed a sales increase of 11% in the first three months of the year.

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