The FTSE is expected up slightly after a strong US earnings season yesterday.
Grant Lewis, Daiwa Capital Markets:
Yet more good data vindicating Abenomics overnight, with the latest CPI data coming in a little stronger than expected. Headline national CPI came in at 0.2%Y/Y in June, taking this index back into positive territory for the first time in over a year. Excluding fresh food, meanwhile, prices were up 0.4%Y/Y, the fastest rate of increase since the end of 2008. And while, when energy prices were also excluded, prices were still down 0.2% on a year earlier, this was the slowest rate of fall since early 2009. The Tokyo CPI, meanwhile, which is a July reading, continued its upward trend, and at 0.3%Y/Y was also the strongest since early 2009.
Some early predictions:
European futures open higher. FTSE +0.306%, CAC +0.581%, DAX +0.464%.— DailyFXTeamMember (@DailyFXTeam) July 26, 2013
Still Some time to go but here are the IG open forecasts for indices: FTSE +20 at 6608; DAX +40 at 8339; CAC +20 at 3976.— David Jones (@DavidJones_IG) July 26, 2013
Happy Friday! European opening calls: FTSE +21, DAX +38, CAC +22, MIB +87, IBEX+82, Hang Seng in for a 3 % gain this week,Shanghai +1.4%— Carolin Roth (@CarolinCNBC) July 26, 2013
It's a very light macro schedule (not a surprise for a Friday):
- French consumer confidence for July at 07.45, expected to creep up from 78 to 79.
- July US consumer sentiment at 14.55. The University of Michigan consumer sentiment index came in at 84.1 last month.