Major European indices are off to a higher start to the week amid optimism surrounding the signing of a U.S.-Iran peace deal in Switzerland, which is being planned for Friday.
STOXX Europe 600: +0.7%,
Germany’s DAX: +1.4%,
U.K.’s FTSE 100: +0.1%,
France’s CAC 40: +1.2%,
Italy’s FTSE MIB: +1.0%,
Spain’s IBEX 35: +1.6%.
Eurozone
April Industrial Production 0.1% m/m (expected 0.2%; last 0.4%); 0.3% yr/yr (last -2.8%)
UK
The market has curtailed its rate hike expectations for the U.K., now pricing in just one rate hike before the end of the year.
The U.K. will hold another by-election on Thursday, which could trigger a leadership challenge to Prime Minister Starmer.
President Trump said that France has to rescind its tech sales tax or face a 100% tariff on wine imports to the U.S.
Germany
May WPI -0.6% m/m (expected 0.8%; last 2.0%); 5.9% yr/yr (last 6.3%)
Italy
April trade surplus EUR4.293 bln (expected surplus of EUR5.190 bln; last surplus of EUR4.709 bln)
Swiss
May PPI -0.4% m/m (expected 0.4%; last 0.8%); -1.8% yr/yr (last -2.0%).
May SECO Consumer Climate -38, as expected (last -40)