What you need to know before the open
European markets are expected higher this morning, with resources predicted to gain on growing confidence that China will act to increase stimuli to boost the economy.
Weaker-than-expected economic data has prompted premier Li Keqiang to suggest authorities are ready to press on with infrastructure investment.
That’ll mean a focus on miners, as the moves have the potential to boost the price of metals.
US bourses suffered losses yesterday, erasing gains made by S&P 500 over the year so far, as banks and technology stocks led the selloff.
Corporate news
Insurer Aviva’s said it’s selling River Road, its US equity manager, to Affiliated Managers Group.
ITE, the British-based exhibitions organiser, has announced like-for-like revenues up 10 per cent in the six months to the end of March. Numis has cut its target to 330p per share, despite the strong performance, because of currency headwinds and specific profit impact in Ukraine.
Diageo’s having a boardroom shakeup, moving executive committee members to best serve its emerging markets agenda.
And in Europe, Italian bank Intesa SanPaolo suffered a €5.2bn quarterly loss at the end of last year, following an enormous loan impairment charge.
Data in focus
- 7.45am: France Feb consumer spending
- 7.45am: France Feb PPI
- 9:30am UK fourth quarter GDP
- 9.30am: UK Jan index of services
- 10.00am: EU March confidence surveys
- 12.30pm: US Feb personal income & spending
- 1.00pm: Germany March CPI
- 1.55pm: US March Uni of Michigan consumer confidence