What you need to know before the open
A steady start’s expected for European stocks this morning, as investors hold their breath ahead of the much-awaited European Central Bank’s policy meeting at lunchtime.
We’re not expecting much when it comes to the latest interest rate decision from both the Bank of England, but anticipation is high around the ECB in terms of what fresh measures it may invoke.
The euro’s hit a four-month low ahead of the meeting.
We’ve also got initial jobless claims in the US out this afternoon.
Corporate news
Online appliance retailer AO world has reported a 40 per cent increase in revenues in its first full-year annual results as a listed company. Analysts are confident about its European prospects, and growth more widely.
Asos, the online fashion retailer, has cut its profit margin guidance, hit by a strong pound and heavy discounting. It's reduced its profit margin guidance from 6.5 per cent to 4.5 per cent.
And Zoopla, the property website, has set a price range for its initial public offering that’ll see it valued at as much as £1bn.
Data on focus
- 10.00am: EU April retail sales
- 12.00pm: UK BoE rate decision
- 12.45pm: EU ECB rate decision
- 1.30pm: EU ECB statement
- 1.30pm: US initial jobless claims