Euro zone production down in September

Euro zone industrial production fell in September, with a drop in durable goods output responsible for the fall.

The figures, released by the European Union statistics office on Monday, shows production decreased by 0.8 percent in September. The number remains 1.2 percent higher year-on-year, and is above the 1 percent fall forecast by analysts.

The number was in line with the Euro zone’s recent pattern of results, whereby industrial output increases one month but falls again the next.

Japanese economy shows strength, pushes shares up

Japan’s GDP expanded by an annualized 2.2 percent in the three months to September, beating anaylysts’ expectations and pushing the Nikkei 225 up.

Analysts had expected a 0.9 percent rise, according to the Wall Street Journal. The figure was the third straight quarter of expansion for Japan, after three long years of investor concern over country’s economic performance.

The Nikkei 225 closed up 1.71 percent at 17,672.

European markets took their cue from strong Asian trading on Monday, with the FTSE 100 up 0.98 percent in mid-morning trading. Shares in housebuilder Taylor Wimpey boosted the index, rising 3.2 percent, with miners such as Randgold Resources tempering performance.

American Apparel files for bankruptcy again

Controversial US retailer American Apparel has filed for bankruptcy for the second time in just over a year, as years of heavy losses and scandal continue to affect performance.

The company have said they will continue to trade whilst negotiating a potential sale of assets to Canada’s Gildan Activewear, who have offered $66 million for the brand and its stock.