What you need to know before the open – 06/01
European bourses are set to open lower this morning as investors await service PMI results.
They follow Asian markets, which were led lower by PMI data that indicated a sharp slowing in Chinese services growth in December.
Lack- lustre opening expected in Europe in response to downbeat mood in Asia – FTSE -6, DAX -12, CAC -3
— David Buik (@truemagic68) January 6, 2014
Last week's better-than-expected economic data from Europe seemed to show continues signs of recovery, although there were some weaker, more concerning figures – particularly from France.
Friday saw Spanish unemployment fall 107,000 – one of the largest December declines on record.
Key events:
- Spain Markit services PMI for December at 8.13am. Expected unchanged at 51.5.
- Italy Markit services PMI for December at 8.43am. Expected at 48.7 from 47.2.
- France Markit services PMI for December at 8.48am. Expected at 47.4 from 48.0.
- German Markit services PMI for December at 8.53am. Expected at 54.0 from 55.7.
- Eurozone Markit services PMI for December at 8.58am. Expected at 51.0 from 51.2.
- UK Markit services PMI for December at 9.28am. Expected at 60.5 from 60.0.
- Eurozone Sentix investor confidence for January at 9.30am. Expected at 9.5 from 8.0.
- German CPI for December at 1.00pm. Expected at 0.4 per cent from 0.2 per cent.
- US factory orders for November at 3.00pm. Expected at 1.5 per cent from -0.9 per cent.
- US ISM non-manufacturing PMI for December at 3.00pm. Expected at 54.5 from 53.9.