What you need to know before the open
16 April 2014 7:51am
European bourses are expected to open higher today.
After a very choppy day yesterday, US markets closed up, despite Russian claims that Ukraine’s “close to civil war”.
Weak GDP data from China - growth slowed to 7.4 per cent in the first quarter - could add jitters to markets, though, but there's also UK unemployment numbers to focus on.
The Chinese government targets growth of 7.5 per cent, although there’s speculation that could be revised lower over coming months.
Industrial production data for March was more optimistic, at 8.8 per cent from 8.6 per cent in February.
Tesco’s announced a 6.9 per cent in underlying pre-tax profit to £3.05bn and a 1.4 per cent fall in like-for-like sales.
Reckitt Benckiser has reported a four per cent rise in like-for-like sales in the first quarter, to £2.2bn. It added that a spin-off is a serious option when it comes to decisions from a review of its pharmaceuticals business.
Credit Suisse announced earlier that its net profit slumped by over a third in the first quarter, to 859m Swiss francs, as its investment bank continues to disappoint.
And the chief executive of RSA’s UK and western European business has resigned.
Data in focus
- 9.30am: UK Feb unemployment rate
- 10.00am: EU March inflation
- 12.00pm: US weekly mortgage applications
- 1.30pm: US March housing starts
- 2.15pm: US March industrial production
- 7.00pm: US Fed’s beige book
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