Major European indices trade near their flat lines while Spain’s IBEX (-0.9%) underperforms with industrials and construction names among the laggards.
STOXX Europe 600: -0.3%,
Germany’s DAX: -0.1%,
U.K.’s FTSE 100: -0.3%,
France’s CAC 40: UNCH,
Italy’s FTSE MIB: UNCH,
Spain’s IBEX 35: -0.9%.
EasyJet agreed in principle to be acquired by Castlelake for $7.3 bln.
Economic data released this morning was generally positive, though eurozone’s PPI accelerated to 5.9% in May from 5.0% in April.
Eurozone
May Retail Sales 0.2% m/m, as expected (last -0.3%); 1.6% yr/yr (expected 1.5%; last 0.9%).
May PPI 0.2% m/m, as expected (last 0.7%); 5.9% yr/yr (expected 5.7%; last 5.0%).
July Sentix Investor Confidence -3.1 (expected -14.5; last -13.4)
European Central Bank policymaker Moulin said that he is comfortable with the base scenario and that the balance of risks is in the right place.
Germany
May Factory Orders 1.9% m/m (expected 1.1%; last -3.2%)
Germany has increased its borrowing estimate for 2027 by about EUR7 bln due to weak tax revenue.
U.K.
June Construction PMI 38.4 (expected 40.1; last 38.2)
Swiss
June Unemployment Rate 3.1% (expected 3.0%; last 3.0%)