What you need to know before the open – 29/11
European markets saw another positive day yesterday, despite concerns over the strength of recovery in the euro area. The Dax continued to make record highs during trading.
Data-wise, German retail sales missed expectations this morning, whilst UK house prices have climbed at their fastest rate for three years.
French consumer spending fell 0.2 per cent in October, after expectations it would increase 0.2 per cent. This follows September's decrease of 0.1 per cent.
Over in Asia, Japan's November manufacturing price managers' index showed the fastest expansion in more than seven years, whilst housing starts rose for the 14th consecutive month.
The latest EU and Italian unemployment figures are set to attract the most attention today, with EU numbers expected to remain at record highs.
ETX Capital #MorningCall FTSE -4, DAX-3, CAC-9, IBEX-6, S+P+3.5, DOW +40
— ETX Capital (@ETXCapital) November 29, 2013
Key events:
- Italy unemployment for October at 9.00am. Expected unchanged at 12.5 per cent.
- UK consumer credit for October at 9.30am. Expected at £650m from £411m.
- UK mortgage approvals for October at 9.30am. Expected at 68,500 from 66,735.
- UK net lending to individuals for October at 9.30am. Expected at £2.1bn from £1.4bn.
- Eurozone consumer price index for November (flash estimate) at 10.00am. Expected unchanged at 0.8 per cent.
- Italy consumer price index for November (flash estimate) at 10.30am. Expected at 0.2 per cent from 0.1 per cent.