European stock markets ended lower yesterday following losses across Asia, as traders looked ahead to key central bank meetings due towards the end of the week. 
At the close, London’s benchmark FTSE 100 index had lost 0.7% compared with Friday’s closing level as news of retailer BHS going into administration and mining shares dragged the market down. 
Connor Campbell, analysts with Spreadex, noted a “sense of unease that greeted BHS filing for administration” with 11,000 jobs threatened and that “BHS’ rivals have largely benefited.” 
In the eurozone, Frankfurt’s DAX 30 lost 0.9% and the Paris CAC 40 slid by 0.5% in value, while Wall Street also slipped lower, the Dow Jones Industrial Average off 0.6% at 17,893.30 two hours into trading. 
The broad-based S&P 500 fell 0.24% and tech-rich Nasdaq slipped back 0.31% in early trading going into a week which will include a Federal Reserve policy meeting and earnings from Apple and other US business giants. 
Lifting the mood in Europe was a report from the Ifo economic institute that showed German business confidence held stable in April. 
“The mood in the German economy remains positive,” said Ifo president Clemens Fuest, amid “brightened” business expectations boosting what Fuest termed a “moderate upturn” in the German economy. 
The Ifo institute’s closely-watched business climate index eased to 106.6 points in April from 106.7 points in March, Ifo said in a statement. 
 “While last week was very much focused on a European Central Bank eager for time to help the efficacy of its monetary policy on the eurozone economy, this week is all about the Federal Reserve and the Bank of Japan; two central banks who could not be at further ends of the policy spectrum from each other,” said Jeremy Cook, chief economist at currency group World First. 
The minutes to the Fed’s last meeting show some advocating an earlier rate hike to ensure the Fed does not miss the boat when inflation picks up. 
The European Central Bank last week kept monetary policy on hold but pledged more easing to stimulate growth if needed.