What you need to know before the open
European markets are expected lower this morning, hit by further sanctions being set out by G7 nations against Russia.
Officials have accused Russia of deliberately exacerbating the current situation in Ukraine.
Further travel restrictions and asset freezes on a further 15 individuals are expected to be imposed by the EU today.
The lift markets got from Facebook and Apple earnings last week has been short-lived.
Japan saw a surge in retail sales in March, but economists are expecting a significant fall following this month’s consumption tax hike.
There’s a fair amount of significant economic data out this week, with growth and unemployment data expected to paint a varied picture.
The Fed’s latest open market committee meeting is expected to see policy makers agree another cut in its stimulus program.
Corporate news
US drugs maker Pfizer has confirmed it’s approached UK rival AstraZeneca for a second time regarding a possible takeover bid.
Chris Finlayson, the chief executive of BG Group, has resigned for personal reasons after four years in the job.
And Ophir Energy’s confirmed it made an approach to Premier Oil regarding a possible merger, but was rejected.
Data in focus
- 9.00am: Italy April consumer confidence
- 3.00pm: US March pending home sales
- 3.30pm: US April Dallas Fed manufacturing index
- 3.30pm: EU European Central Bank’s Mario Draghi speaks in Bonn