What you need to know before the open – 07/02
With the US employment report out later today, European bourses are expected to open higher.
Yesterday's better-than-expected jobless numbers have helped ease investor fears.
Meanwhile, the European Central Bank decided against upping interest rates, with president Draghi insisting Europe has no inflation problem, although he hinted at the possibility of action in the medium term.
Over in Asia, stocks fared better in trading on the back of the US data, bouncing back from five-month lows.
There was, however, another reminder that China’s facing a number of problems, as the HSBC services PMI fell to 50.7 in January – its lowest in two-and-a-half years.
After a Stellar session yesterday a reflective opening to European markets is expected – FTSE +10, DAX + 13, CAC +7
— David Buik (@truemagic68) February 7, 2014
Key events:
- France trade balance, imports and exports for December at 7.45am.
- UK industrial production for December at 9.30am. Expected at 2.3 per cent from 2.5 per cent.
- UK manufacturing production for December at 9.30am. Expected at 2.3 per cent from 2.8 per cent.
- UK total trade balance for December at 9.30am.
- German industrial production for December at 11.00am.
- US non farm payrolls for January at 1.30pm. Expected at 185,000 from 74,000.
- US unemployment rate for January at 1.30pm. Expected unchanged at 6.7 per cent.
- UK Niesr GDP estimate foe the three months to January at 3.00pm.