IMF to decide on Greece funds, ECB warns EU

IMF has announced that it will decide on its Greece funding on Dec 5, but has set no timing for its mission for Italy. Also, manufacturing activity has weakened across Europe, and for the first time in China since February 2009. ECB President, Mario Draghi, has said that the downside risk to the EU economy has increased while taming inflation could be a challenge. Meanwhile, in the US, weekly jobless claims shows a surprise rise again, as it goes past the psychologically important 400,000 mark while markets are trading mildly weak in a choppy session of trade with no clear direction, as banks are trading weak.