Major European indices trade mostly lower amid some concerns about the lasting power of the U.S.-Iran ceasefire.
STOXX Europe 600: -0.8%,
Germany’s DAX: -0.8%,
U.K.’s FTSE 100: -1.1%,
France’s CAC 40: -0.6%,
Italy’s FTSE MIB: +0.1%,
Spain’s IBEX 35: -0.6%.
Eurozone
May Business and Consumer Survey 93.5 (expected 92.8; last 93.2)
European Central Bank Chief Economist Lane said that secondary effects of inflation will be visible for a while even if the energy shock starts to recede, contributing to the market’s view that a rate hike will be announced in June.
The EU is looking to tighten limits on duty-free steel imports from China.
France
April PPI -2.1% m/m (last 1.9%); 2.1% yr/yr (last 0.0%)
Italy
May Business Confidence 87.9 (expected 87.5; last 87.9) and Consumer Confidence 93.4 (expected 90.1; last 90.8). April PPI 0.3% m/m (last 4.4%); 6.8% yr/yr (last 4.2%)
Spain
April Retail Sales 0.8% yr/yr (last 4.1%)