Major European indices trade on a modestly higher note while Germany’s DAX (-0.7%) underperforms.
STOXX Europe 600: -0.2%,
Germany’s DAX: -0.7%,
U.K.’s FTSE 100: +0.3%,
France’s CAC 40: +0.2%,
Italy’s FTSE MIB: +0.1%,
Spain’s IBEX 35: +0.2%.
Tech stocks are among the laggards after an overnight release of underwhelming preliminary Q1 results from Samsung.
NATO officials are meeting in Ankara today and tomorrow.
Germany
Germany’s Industrial Production growth was much stronger than expected in May.
May Industrial Production 0.9% m/m (expected 0.1%; last 0.2%); 0.1% yr/yr (last -0.8%)
Germany’s Finance Minister Klingbeil acknowledged that Germany’s debt will reach 69.5% of GDP in 2027.
U.K.
June Halifax House Price Index 0.2% m/m (expected 0.1%; last -0.2%); 0.6% yr/yr (last 0.5%)
France
May trade deficit EUR6.9 bln (expected deficit of EUR5.9 bln; last deficit of EUR5.4 bln)