Major European indices trade in the green.
STOXX Europe 600: +0.3%
Germany’s DAX: +0.1%
U.K.’s FTSE 100: +0.2%
France’s CAC 40: flat
Italy’s FTSE MIB: +0.5%
Spain’s IBEX 35: +0.6%
Novo Nordisk (NVO 49.25, -0.36, -0.7%) is suing Eli Lily (LLY 1,141.06, -5.84, -0.5%) for multiple violations of federal and state false advertising and unfair competition laws.
Eurozone
The latest bank lending survey from the European Central Bank showed tighter access to credit in Q2 due to geopolitical instability with additional tightening expected in Q3.
July ZEW Economic Sentiment 23.4 (expected 11.2; last 9.5)
Germany
July ZEW Economic Sentiment 26.3 (expected 15.1; last 10.5) and ZEW Current Conditions -77.6 (expected -77.8; last -81.0)
U.K.
New British Prime Minister Burnham named former defense secretary John Healy as Chancellor, which was a headline surprise, though Gilts have seen limited movement.
May three-month employment change 147,000 (expected 85,000; last 100,000),
May Claimant Count Change 6,700 (expected 29,400; last 1,300).
May Average Earnings Index + Bonus 4.3% yr/yr (expected 4.5%; last 4.4%).
May Unemployment Rate 4.9%, as expected (last 4.9%)
Spain
May trade deficit EUR8.24 bln (last deficit of EUR5.20 bln)
Swiss
June trade surplus CHF5.224 bln (last surplus of CHF5.989 bln)