What you need to know before the open
Markets are expected to pause somewhat today, keeping their powder dry ahead of the Bank of England’s inflation report.
US markets hit a record high again yesterday, buoyed by hopes that the ECB will act next month to ease monetary policy.
Final inflation numbers from Germany and France could give analysts some clues as to what the central bank might do.
Harmonised to EU prices, the German consumer price index rose 1.1 per cent in April, in line with expectations. Non-harmonised, it increased 1.3 per cent.
Corporate news
British Land has reported an 8.4 per cent jump in underlying profit before tax, to £297m, as demand and investment markets improve.
Sony’s posted another loss of 125bn yen, saying that it won’t re-emerge into profitability during fiscal 2015.
ICAP saw profits down four per cent to £295m in the year to March, saying market conditions remain “extremely difficult”.
And BHP Billiton says it’s looking at options around selling “all or parts of” its Nickel West business.
Data in focus
- 7.45am: France April inflation
- 9.30am: UK ILO unemployment rate
- 9.30am: UK March average earnings
- 9.30am: UK March claimant count
- 10.00am: EU March industrial production
- 10.30am: UK Bank of England inflation report
- 12.00pm: US MBA mortgage applications
- 1.30pm: US April producer price index