Major European indices trade on a mostly lower note while Germany’s DAX (+0.3%) outperforms with technology stocks contributing to the outperformance.
STOXX Europe 600: -0.2%,
Germany’s DAX: +0.3%,
U.K.’s FTSE 100: -0.2%,
France’s CAC 40: UNCH,
Italy’s FTSE MIB: -0.1%,
Spain’s IBEX 35: -0.3%.
European Central Bank policymaker Schnabel lamented high energy prices while policymaker Pereira repeated that the central bank should act sooner rather than later, contributing to speculation that a rate hike will be announced this month.
Final May Manufacturing PMI readings from the region showed minimal expansion in Germany’s reading (50.1) while the U.K.’s reading (53.9) recorded a four-year high.
Eurozone
May Manufacturing PMI 51.6 (expected 51.4; last 52.2).
April Unemployment Rate 6.3% (expected 6.2%; last 6.3%).
April Private Sector Loans 3.0% yr/yr, as expected (last 3.0%), and loans to nonfinancials 3.4% yr/yr (expected 3.1%; last 3.2%)
Germany
April Retail Sales -0.3% m/m (expected -0.4%; last -0.3%); -0.3% yr/yr (last 2.7%).
May Manufacturing PMI 50.1 (expected 49.9; last 51.4)
Italy
May Manufacturing PMI 52.9 (expected 52.0; last 52.1)
U.K.
May Nationwide HPI -0.6% m/m (expected -0.1%; last 0.4%); 1.7% yr/yr (last 3.0%).
May Manufacturing PMI 53.9 (expected 53.7; last 53.7)
France
May Manufacturing PMI 49.7 (expected 48.9; last 52.8)
Spain
May Manufacturing PMI 51.2 (expected 53.7; last 51.7)
Swiss
Q1 GDP 0.7% qtr/qtr (expected 0.5%; last 0.2%); 0.5% yr/yr (last 1.0%).
April Retail Sales 1.6% yr/yr (expected 0.2%; last 1.3%).
May Manufacturing PMI 57.3 (expected 54.0; last 54.5)