European Market Review

European stocks are into a mixed pattern this afternoon traders and investors are focused on the current political crisis in the U.K.Germany recorded its most significant trade surplus in the last four months as exports showed a surprise gain.

The foreign trade balance marked 21.4 billion euros ($23.6 billion) in July, a gain from 16.6 billion euros the previous month, according to the Federal Statistics Office.

As a matter of fact, shipments abroad advanced 0.7% versus to June figures, defying economist estimates for a loss.

British Airways canceled most flights for today and tomorrow after its pilots went on strike over their demand for higher compensations.

The pilots’ union reported that its members would not return to work for 48 hours after starting the job action at midnight Monday.

In fact, Terminal 5 at Heathrow in London, a British Airways hub, was deserted on Monday, according to British media reports.

The UK's economy rallied more than the forecasts in July, easing concerns that it could ran into recession. In fact, the economy surged 0.3% in July, according to the the official statistics.