Before the bell: Markets muted as Greek talks stall

Greek debt uncertainty has investors in a holding pattern ahead of a meeting of Eurozone finance ministers on Monday. As a result, markets are mixed this morning while U.S. stock futures signal a lower open.

Greece's negotiations with its private creditors may have hit a stalemate as the country seeks to halve the estimated €200 billion (US$258 billion) it owes. Debt inspectors from the European Union, European Central Bank and the International Monetary Fund will meet in Athens this week to discuss a Greek austerity plan in the hope of helping the country avoid a messy default.

The benchmark Stoxx Europe 600 Index was 0.1 per cent lower at 255.71. London's FTSE 100 rose 0.1 per cent to 5736.91, Paris's CAC-40 was 0.1 per cent lower at 3319.17 and Frankfurt's DAX was down 0.7 per cent at 255.71. The euro currency is trading at US$1.2917.

In Asia, most exchanges are closed to honour the Chinese New Year. Japan's Nikkei 225 Stock Average was down less than 0.1 per cent at 8,763.22 and Australia's S&P/ASX 200 Index slipped 0.3 per cent to 4,225.10. New Zealand's benchmark added 0.6 per cent to 3,295.02 and India's Sensex inched up 0.1 per cent to 16,763.22. Thailand's SET Index rose 0.6 per cent to 1,065.07.

On Wall Street, futures for the S&P 500 Index, the Dow Jones Industrial Average and the Nasdaq 100 Index were all down 0.2 per cent to 0.3 per cent. There's no major economic news due in the U.S. today though a number of companies will report earnings including Halliburton, Texas Instruments, and railroad operator CSX.

Closer to home, the S&P/TSX Composite Index ran up 53.17 points to close at 12,380.69 last Friday thanks to strong manufacturing data and positive U.S. bank earnings. The TSX Venture Exchange added 4.15 points to close at 1,554.2. The Canadian dollar is trading at 98.87¢ US.