There was more bad news from Europe overnight, with data showing the German economy contracted in the last quarter.

Equities in Europe and on Wall Street advanced overnight and so did commodities, as data showed China's import growth last month eased to the lowest level in two years.

World share markets are down, with worries about Europe overwhelming good economic data from the US.

Markets fell overnight on both sides of the Atlantic as Italy's borrowing costs soared, intensifying concern that efforts to contain the European Union's debt crisis aren't working.