What you need to know before the open
With the S&P 500 and Dax posting record highs yesterday, today's expected to see a positive open for European markets.
With no significant US data, focus will be on German unemployment, which could push the Dax towards to 10,000 level if it continues to come down.
Market expectations that the European Central Bank will instigate some course of action next week are high, with some commentators saying too high, given the lender’s track record.
Corporate news
Nationwide has said the government’s plan to issue bonds for pensioners through its National Savings & Investments could negatively impact the lender’s access to savings.
Serco, the scandal-hit contractor, has won a contract to manage a new 15-year franchise for the Caledonian Sleeper Service.
Infrastructure firm Balfour Beatty has won a £188m contract to deliver infrastructure works for Heathrow's terminals 1, 2 and 4.
De La Rue, the world’s largest commercial banknote printer, has reported a 43 per cent increase in underlying operating profit, to £90.5m, despite currency and pricing pressures.
And Weir Group, the Glasgow-based engineering firm, has said it’s abandoning a proposed deal with Finnish Metso, after the latter said no to an improved, all-share offer this week.
Data in focus
- 8.55am: Germany May unemployment change
- 9.00am: EU April money supply
- 10.00am: EU May consumer confidence and economic sentiment
- 11.00am: CBI May distributive trades survey
- 12.00pm: US MBA mortgage applications