Major European indices are looking for an upbeat finish to the week despite news that President Trump is looking to reimpose tariffs on 60 trading partners, including the EU. These tariffs will replace the 10% global tariff that is scheduled to expire.
—Equity Markets—
STOXX Europe 600: +0.4%
Germany’s DAX: +0.8%
U.K.’s FTSE 100: +0.2%
France’s CAC 40: +0.2%
Italy’s FTSE MIB: +0.6%
Spain’s IBEX 35: +0.9%
Economic data from the region was mostly surprising to the upside, with an improvement in PMI readings and the U.K. reporting strong Retail Sales growth for June (4.2%; expected 2.3%).
Eurozone
flash July Manufacturing PMI 52.0 (expected 51.5; last 51.4) and flash Services PMI 51.6 (expected 49.8; last 49.4)
Germany
August GfK Consumer Climate -29.6 (expected -28.7; last -29.3). Flash July Manufacturing PMI 52.2 (expected 50.4; last 50.3) and flash Services PMI 49.6 (expected 49.0; last 48.6)
U.K.
July GfK Consumer Confidence -17 (expected -22; last -23).
June Retail Sales 1.0% m/m (expected -0.3%; last 1.2%); 4.2% yr/yr (expected 2.3%; last 3.5%).
June Core Retail Sales 1.1% m/m (expected -0.4%; last 1.2%); 5.4% yr/yr (expected 3.2%; last 4.9%).
Flash July Manufacturing PMI 52.8 (expected 52.0; last 52.5) and flash Services PMI 51.8 (expected 49.4; last 48.8)
France
flash July Manufacturing PMI 50.0 (expected 51.0; last 51.2) and flash Services PMI 49.8 (expected 47.5; last 46.8)