Major European indices trade in the green.
—Equity Markets—
STOXX Europe 600: +0.8%
Germany’s DAX: +1.0%
U.K.’s FTSE 100: +0.5%
France’s CAC 40: +0.7%
Italy’s FTSE MIB: +0.9%
Spain’s IBEX 35: +0.5%
Euronext said that it is not interested in merging with Deutsche Boerse.
European Central Bank President Lagarde said that the central bank is particularly attentive to second-round effects of inflation while policymaker Demarco said that a June rate hike is likely.
Germany
Q1 GDP 0.3% qtr/qtr, as expected (last 0.2%); 0.4% yr/yr (expected 0.3%; last 0.4%).
June GfK Consumer Climate -29.8 (expected -33.7; last -33.1).
May ifo Business Climate Index 84.9 (expected 84.2; last 84.5).
May Current Assessment 86.1 (expected 85.1; last 85.4) and Business Expectations 83.8 (expected 83.5; last 83.5)
Germany’s defense minister said that his country’s defense spending will exceed 4% of GDP this year.
U.K.
April Retail Sales -1.3% m/m (expected -0.6%; last 0.6%); 0.0% yr/yr (expected 1.3%; last 1.4%).
April Core Retail Sales -0.4% m/m (expected -0.3%; last 0.1%); 1.1% yr/yr (expected 1.5%; last 1.5%).
April Public Sector Net Borrowing GBP24.30 bln (expected GBP20.70 bln; last GBP11.50 bln)
France
May Business Survey 102 (expected 100; last 100)