ICSC cuts Nov. retail sales view

Same-store sales likely rose 3%-4% vs. a year ago, according to the Int'l Council of Shopping Centers, below its prior Nov. forecast of 5%-8%. That follows a lackluster Black Friday start to the holiday shopping season. Online retailers and electronics stores fared best. Most major retailers report Nov. sales on Thu.

Retail sales last Fri. and Sat. edged up 0.9% while customer traffic fell 2.7% vs. a year ago, said market researcher ShopperTrak. China factory growth solid in Nov.

A gov't purchasing managers index held at an 18-month high of 55.2, indicating growth for a 9th straight month. The survey signaled slower job and export gains. Meanwhile, HSBC's China factory gauge edged last month to its best level since April 2004.

Europe factory activity expands

Markit's euro zone purchasing managers index rose 0.5 point 14 Nov. to 51.2, the highest since March '08. It was the 2nd straight month over 50, signaling growth. Germany, France and Italy posted the strongest gains. But manufacturing activity in Spain contracted at a faster rate.

British manufacturing slowed last month as the Chartered Institute of Purchasing & Supply and Markit's purchasing managers index dropped 1.6 points to 51.8. The decline raised worries about the health of Britain's recovery. The euro zone jobless rate held at an 11-year high of 9.8% in Oct., the EU statistics agency said. BoJ pumps more cash into banks

In an unscheduled meeting, the Bank of Japan offered banks more funds amid gov't pressure on the central bank to do more to prevent deflation and keep the economy from sliding back into a recession. Gov. Masaaki Shirakawa downplayed gov't pressure, saying the decision was aimed at shielding banks from the Dubai debt crisis.

Australia's central bank raised interest rates for a record 3rd month in row by a quarter-point 15 3.75% and signaled more tightening for the commodity-rich nation. COMING UP WEDNESDAY

ADP employment report for Nov., 8:15 a.m. EST (forecast: private payrolls, -150,000). Fed beige book, 2 p.m. EST.