Stocks diverge, oil retreats as China disappoints markets [Video]

Major stock markets diverged and oil prices fell more than two percent Monday as traders reacted to more weak data from China following a pledge by the country’s finance minister to boost the world’s second-biggest economy.

One of the week’s key events, meanwhile, occurs Thursday when the European Central Bank is expected to lower interest rates again as anxiety about inflation in the eurozone fades and concerns over sluggish growth mount.

The euro was lower against the dollar and pound Monday, while the single-currency bloc’s main Paris and Frankfurt stock markets opened the week by moving in opposite directions.

Outside the eurozone, London dipped after Shanghai closed higher and Hong Kong finished down Monday.

Wall Street experienced more record-highs Friday as strong US company earnings added to positive sentiment over the world’s biggest economy ahead of the country’s presidential election next month.

Oil prices slid Monday as concerns about the …