Before the open - 26/06

The FTSE saw some recovery yesterday, rising by 72.81 points after hitting five month-lows the day before. The US saw strong data beats, and those are expected to give some momentum to European markets when they open. However Asian markets saw a turbulent session.

In the UK, eyes will be on chancellor George Osborne's spending review at 12.30. City A.M. has a summary of what we already know.

Asian shares stabilised somewhat overnight, as the Chinese central bank calmed markets. The People's Bank of China (PBOC) said that it had helped some banks and that it is ready to act again as a lender of last resort.

THE PBOC said that it would actively inject cash "based on the market's actual situation" and would "adjust banking system liquidity in a timely manner".

Today's key events:

  • German consumer confidence numbers for July are out at 7.00. Economists are forecasting that confidence will stay flat at 6.5.
  • US GDP revisions for the first quarter of 2013 at 13.30. This number is expected to stay flat at 2.4 per cent (on an annualised basis).