Major European indices are tracking a higher finish to the week.
STOXX Europe 600: +0.6%,
Germany’s DAX: +0.1%,
U.K.’s FTSE 100: +0.3%,
France’s CAC 40: +0.7%,
Italy’s FTSE MIB: +0.7%,
Spain’s IBEX 35: +0.8%.
U.K.
Andy Burnham, who could become the next prime minister, said that there should be more state involvement in the economy.
Bank of England Governor Bailey said that rate cuts should not be expected at this time and that policy has been tightened sufficiently.
Germany
Germany flash CPI report for May will be released at 8:00 ET and is expected to show a month-over-month increase of 0.1%, keeping the year-over-year growth rate at 2.9% that was reported in April.
May Unemployment Change -12,000 (expected 11,000; last 20,000)
May Unemployment Rate 6.3% (expected 6.4%; last 6.4%).
April Import Price Index 1.2% m/m, as expected (last 3.6%); 5.3% yr/yr, as expected (last 2.3%)
France
Q1 GDP -0.1% qtr/qtr (expected 0.0%; last 0.2%); 0.9% yr/yr (expected 1.1%; last 1.3%). May CPI 0.1% m/m (expected 0.2%; last 1.0%); 2.4% yr/yr (expected 2.5%; last 2.2%).
April Consumer Spending -0.5% m/m (expected -0.1%; last 0.9%).
Q1 nonfarm payrolls 0.0% qtr/qtr (expected -0.1%; last -0.1%)
Italy
May CPI 0.4% m/m (expected 0.1%; last 1.1%); 3.2% yr/yr, as expected (last 2.7%). Q1 GDP 0.3% qtr/qtr (expected 0.2%; last 0.3%); 0.8% yr/yr (expected 0.7%; last 0.8%).
April Unemployment Rate 5.1% (expected 5.3%; last 5.2%)
Spain
May CPI 0.1% m/m (expected 0.2%; last 0.4%); 3.2% yr/yr (expected 3.3%; last 3.2%).
May Core CPI 2.9% yr/yr (last 2.8%).
March Current Account surplus EUR4.61 bln (last surplus of EUR4.04 bln)
Swiss
May KOF Leading Indicators 98.0, as expected (last 97.8)