Advertisement
Singapore markets closed
  • Straits Times Index

    3,173.55
    +1.62 (+0.05%)
     
  • S&P 500

    5,149.42
    +32.33 (+0.63%)
     
  • Dow

    38,790.43
    +75.63 (+0.20%)
     
  • Nasdaq

    16,103.45
    +130.25 (+0.82%)
     
  • Bitcoin USD

    63,182.27
    -4,658.54 (-6.87%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,720.46
    -2.09 (-0.03%)
     
  • Gold

    2,156.90
    -7.40 (-0.34%)
     
  • Crude Oil

    82.57
    -0.15 (-0.18%)
     
  • 10-Yr Bond

    4.3400
    0.0000 (0.00%)
     
  • Nikkei

    40,003.60
    +263.20 (+0.66%)
     
  • Hang Seng

    16,529.48
    -207.62 (-1.24%)
     
  • FTSE Bursa Malaysia

    1,544.96
    -8.68 (-0.56%)
     
  • Jakarta Composite Index

    7,336.75
    +34.30 (+0.47%)
     
  • PSE Index

    6,848.43
    -4.86 (-0.07%)
     

British shoppers keep on spending as retail sales beat forecasts; FTSE 100 faces uphill struggle

Retail sales beat expectations in July
Retail sales beat expectations in July
  • Emerging divide at the US Federal Reserve over tightening monetary policy lifts the pound against the dollar

  • FTSE 100 opens in the red as sterling advances; B&Q owner Kingfisher falls most on second-quarter sales drop

  • UK retail sales growth slows to 0.3pc; narrowly beats expectations

4:54PM

Markets wrap: Banking stocks wounded by receding US rate hike hopes pull down FTSE 100

FTSE 100
HSBC pulled down the FTSE 100 most today

European equities have retreated firmly into the red today to snap a three-day rally with financials suffering most as the prospect of a rate rise in the US receded on minutes released overnight from the latest Federal Reserve meeting.

ADVERTISEMENT

A host of blue-chip stocks going ex-dividend also weighed on the FTSE 100 while the dollar dropping against the pound following the Fed minutes did little to help the index's uphill struggle.

Better-than-expected retail sales data dropping this morning couldn't lift the pound any further but did cap off this week's trio of key UK economics releases that present a slightly rosier picture for British households.

Resilient shoppers helped month-on-month sales grow by 0.3pc in July with yesterday's ONS data showing that wage growth is finally beginning to close the gap with inflation.

IG market analyst Joshua Mahony said this on how the Fed's minutes have affected today's play:

"European and US indices have seen early losses amplified, in a move which seemingly had its roots in what was widely perceived as a dovish set of comments from the Fed yesterday.

"Unsurprisingly we have seen financials fall back across the board, as the prospect of higher rates in 2017 continues to diminish. Fears over the weakening inflation picture has put the December rate hike on a knife edge, with the balance sheet normalisation seeming the more likely of the two."

4:25PM

Profit taking has hit European equities today

Europe
All major European stock indices have retreated today

Profit taking has pulled down European equities today, according to CMC Markets analyst David Madden, as traders cash in on the rally over the three previous days.

He explained:

"The bounce back that started on Monday because of the cooling tensions between the US and North Korea has ran out of steam, and dealers are taking money off the table.

"The weakness in the euro cushioned the decline in the DAX and CAC 40 somewhat but the drop in the pound couldn’t help the FTSE 100, which is worrying for the British index."

4:13PM

BHP Billiton gives green light to £2bn copper mine plan

BHP
BHP's investment will extend the Spence mine's life by 50 years

BHP Billiton has hit the button on a $2.46bn (£1.9bn) project to expand a giant copper mine in northern Chile, as it looks to feed rising demand for the red metal.

The long-awaited plan will extend the life of its Spence mine by 50 years, and comes as investors look for clues about BHP’s future strategy ahead of its full-year results next week.

BHP, which has been under pressure from activist fund Elliott to make bigger returns to shareholders, has declared that copper is a key priority for the company. The metal is used in electric wiring and cars and is expected to remain in long-term demand.

The miner still draws most of its profits from iron ore, used to make steel, although copper is expected to have made up around 19pc of its underlying earnings for the year to June. Copper prices have been on a roll in the last few months, with strong demand from China pushing the metal up 18pc in the year to date.

Read Jon Yeomans' full report here

3:52PM

Financials having a torrid day of trading following dovish Fed minutes

Banks
Higher interest rates improve profitability at banks

London's blue-chip banking stocks are taking a beating today after the dovish minutes released from the US Federal Reserve's latest meeting overnight highlighted concerns that weak inflation may hold back an interest rate rise. 

Higher interest rates increase profitability at banks and those financial stocks with large international exposures are impacted by the Fed's policy. Standard Chartered, which earns most of its revenue overseas, has slumped 2.6pc while HSBC has slipped 1.2pc, its heavy weighting pulling down the FTSE 100 most this afternoon.

Meanwhile, Spreadex analyst Connor Campbell explains the markets' latest worries with Mr Trump and his administration:

"There’s also the issue of Trump. While tensions with North Korea have retreated into the background, they’ve been replaced by the latest domestic crisis for the President.

"And though it’s hardly important when compared to the safety of people endangered by his implicit (and explicit) endorsement of far-right rhetoric, it does provide another roadblock for the elusive infrastructure and tax plans that helped propel the markets to record highs."

3:27PM

Hikma shares hit by downgraded drug sale forecasts  

Hikma
Hikma boss Said Darwazah said competition was hotting up in the US

Hikma Pharmaceuticals shares have fallen more than 7pc after the drugmaker lowered its forecast sales for this year.

The FTSE 250 firm - which is pinning its hopes on a potential blockbuster generic inhaler product to rival GSK’s asthma drug Advair in the US - said revenues from its second biggest division, generics, will be $620m (£482m) this year.

This forecast compared to a $670m outlook in May and an $800m estimate in April. Overall full-year revenues are expected to be $2bn, down from its previous $2.1bn forecast.

Said Darwazah, chairman and chief executive of Hikma, warned that in the US, its largest market, “competition is increasing and pricing pressure is intensifying”.

Read Iain Withers' full report here

3:11PM

American equities follow European peers into the red; US industrial production softens

Dow Jones
The Dow Jones has fallen 0.4pc in early trading

US equities have followed their European peers into the red with the Dow Jones retreating 0.4pc back below 22,000.

Investor angst over the US' relations with North Korea has been displaced with jitters over whether the Donald Trump administration can ever enact the fiscal stimulus promised during his campaign. With Mr Trump disbanding two business councils amid criticism for his reaction to events in Charlotteville, business confidence in his ability to pass spending plans is sapping,

There is a bit of data trickling out of the US this afternoon. Industrial production data for July showed output growth softened to 0.2pc compared to the previous month, narrowly missing expectations. 

Pantheon Macro pointed out that the data "looks soft" compared to recent survey and employment data.

Its chief economist Ian Shepherdson explained:

"Either way, we expect a clear and substantial rebound in August and/or an upward revision to the July number.  The manufacturing recovery continues, after the hit from collapsing oil sector capex in 2015/16, but progress is slow. "

2:50PM

Anti-terror paving slabs in demand as Marshalls sales rise

Marshalls
Marshalls supplied the paving for Trafalgar Square

The spate of terror attacks in Britain that have used vehicles as weapons has sparked a surge in demand for anti-terror bollards and paving slabs, according to landscape products company Marshalls.

The business makes paving stones, kerbs and street furniture such as benches and bollards and chief executive Martyn Coffey said he had seen a huge increase in inquiries about how these can be used to protect the public from vehicles mounting pavements.

“We’ve got products such as bollards and planters, which can stop a 10-tonne truck in its tracks, but it’s not always practical to have these on pavements every few yards,” said the boss of the FTSE 250 business.

Shares jumped 20.1p to 420.6p, a 5pc rise.

Read Alan Tovey's full report here

Marshalls
Marshalls

2:28PM

Bullish swagger of European markets comes to an abrupt end

cav
The CAC 40 and DAX are firmly in the red despite the euro giving up its gains against the dollar

European stock markets' bullish swagger this week has come to an abrupt end today with all the major indices sinking into the red. The FTSE 100 is settling just under a 0.4pc loss for the session, which given the stronger pound and number of big hitters going ex-dividend today is probably to be expected.

Excluding the volatile mining stocks, chemicals specialist Johnson Matthey is the top blue-chip riser today following a broker upgrade from Bernstein.

The FTSE 100 company has advanced 2.4pc after analyst Jeremy Redenius said that the market had overestimated the negative impact of the EU diesel phase-out.

He told clients: "Do not dies-pair." Deary me Jeremy, hang your head.

US markets are up next.

1:59PM

Shoppers stock up on food as inflation shows signs of peaking 

British shoppers bought more than expected in July, stocking up on extra food and household goods to give the economy a lift.

But families are also suffering from the recent surge in prices, which forced them to spend more on clothes even as they brought home fewer garments.

Overall retail sales climbed by 0.3pc on the month in July, the Office for National Statistics (ONS) said, led by a 1.5pc rise in food sales.

That beat the 0.2pc rise forecast by economists, indicating consumers will offer steady but not strong support to the wider economy. Compared with July last year the volume of sales rose by 1.3pc.

Read Tim Wallace's full report here

1:37PM

ECB minutes reaction: The release suggests no news on tapering until October

Draghi
Reports circulated yesterday that Mr Draghi will not use his Jackson Hole speech next week to signal a change in policy

This afternoon's ECB minutes release suggests no news on tapering will be forthcoming from the central bank until October, argues European economist at Capital Economics Jessica Hinds.

Many had earmarked ECB president Mario Draghi's speech at the Jackson Hole conference next week as a possible date for the central bank to signal the winding down of its quantitative easing programme.

Ms Hinds added:

"With Governing Council members agreeing that it was best to discuss the outlook for monetary policy in the “autumn”, this adds support to our view that the Bank will wait until October before announcing that it will taper its asset purchases from the current pace of €60bn per month to zero in the first half of 2018."

The next ECB monetary policy meeting is due on September 7 with October 20 the next opportunity in the diary after that to change direction. 

1:15PM

'Hate is a cancer': Apple's Tim Cook slams Trump's response to Charlottesville  

Tim Cook
Tim Cook, left, on the President's technology council earlier this year

Apple boss Tim Cook has added his voice to the chorus of condemnation of Donald Trump after the US President's response to the "alt-right" rally in Charlottesville, Virginia at the weekend.

The news comes as bosses from both JP Morgan and BlackRock slammed the President in memos to workers.

In an email to Apple staff, Mr Cook wrote: "Hate is a cancer, and left unchecked it destroys everything in its path. Its scars last generations. History has taught us this time and time again, both in the United States and countries around the world."

Read the full report here

12:44PM

Euro drops following ECB minutes release

The latest ECB meeting minutes have just dropped and traders on the currency markets are taking the latest release as on the dovish side.

The minutes said that, with inflation still stubbornly low, monetary policy needed to remain unchanged until CPI figures have improved. Possibly with last night's Fed minutes in the back of traders' minds, the euro has tumbled with the pound now trading 0.3pc higher against the currency at €1.1012.

The ECB said:

"At this stage, the present degree of monetary policy accommodation was still necessary for inflation to converge to levels below, but close to, 2% over the medium term.

"Therefore, Mr Praet proposed to keep the ECB monetary policy stance unchanged, maintaining all the elements of the Governing Council’s forward guidance on the expected path of the key ECB interest rates and on its monthly purchases under the asset purchase programme (APP).

"Overall, Mr Praet recommended that in the public communication the Governing Council: (i) acknowledged the strengthening of the economic expansion and confirmed that the risks to the growth outlook were broadly balanced; (ii) indicated that the ongoing economic expansion increased confidence that inflation would gradually converge to its aim; and (iii) stressed that a very substantial degree of monetary accommodation was still needed for underlying inflation pressures to gradually build up."

12:05PM

Lunchtime update: Retail sales remain resilient; banks drag on FTSE 100

Retail
Retail sales grew by 0.3pc as shoppers ignored inflation headwinds

UK shoppers remained resilient in the face of inflation headwinds in July, data from the ONS this morning has revealed. Retail sales grew by 0.3pc, narrowly ahead of expectations but half of June's bumper 0.6pc increase.

The figures have had little impact on the pound, however, which has deteriorated against the dollar this morning and is close to paring all of its overnight gains following the release of the Federal Reserve's latest meeting minutes. 

The minutes showed a divide at the central bank over hiking interest rates before the end of the year and the surprise split has dragged down financials on the FTSE 100 with a host of big names going ex-dividend also weighing on the blue-chip index.  

B&Q owner Kingfisher's disappointing trading update has seen it slump to the bottom of the FTSE 100 while commodity stocks have risen as prices rally on a weaker dollar.

Here's the current state of play in Europe: 

FTSE 100: -0.31pc

DAX: -0.12pc

CAC 40: -0.16pc

IBEX: -0.33pc

11:41AM

Kingfisher update reaction: Screwfix business could be better off going it alone

Kingfisher
B&Q's slumping sales dragged down owner Kingfisher's performance

Kingfisher's trading statementhas sent the retailing giant sliding to the bottom of the FTSE 100 this morning, the B&Q owner falling some 4.7pc. Here's the latest reaction to the disappointing figures.

George Salmon at Hargreaves Lansdown can't pick out much to cheer in the update:

“It’s sometimes difficult to get a grip on the underlying direction of travel at Kingfisher, so dependant is the group on the vagaries of the weather. However, with the transformative ONE Kingfisher plan suffering from disruption and like-for-like sales in both France and the UK in negative territory, there aren’t many bright spots for investors in these results.  

"A silver lining of sorts is that it looks like Kingfisher isn’t alone in having difficulties in the UK." 

That is a pretty thin silver lining it must be said.

Neil Wilson, senior market analyst at ETX Capital, thinks it might be time to spin-off parts of the company:

“More of the same from Kingfisher with a massive outperformance by Screwfix trying gamely to mask an otherwise pretty ropey set of numbers from the rest of the group. This time the trade-focused brand’s leap in sales was not enough to paper over the cracks and shares in KGF dropped nearly 4% on the open.

"Kingfisher could be well advised to spin-off its French division. But as plenty of others have talked about, it may also be time to start considering whether Screwfix is better off going it alone. Common sourcing savings (targeted at £500m a year by 2021) may be the reason not to go down this route.”

11:17AM

Argos forced to give workers back almost £1.5m after underpaying them  

Argos
Argos was by far the worst offender in the latest round of investigations

Argos has been forced to repay almost £1.5m to more than 12,000 workers as part of a record £2m of back pay identified by Government investigations.

Overall, more than 13,000 of the UK’s lowest paid workers will receive money due to them because their employers did not pay them the national minimum wage.

Of these, Argos is by far the largest firm in the list of 233 companies named and shamed this week. Sainsbury’s, which bought Argos last year, warned in February that around 34,000 members of staff in total would be eligible for extra pay totalling £2.4m. This also included former staff, which are not counted in the Government's figures.

This was thought to have come about because workers’ hourly rate did not include morning briefings and security searches, which could happen after colleagues had clocked out of their shifts.

Read Rhiannon Bury's full report here

11:13AM

FTSE 100 update: Financials retreat on receding probability of a US rate rise 

UK
The big UK banks have dropped firmly into the red this morning

The receding chance of an interest rate rise before the end of the year in the US following last night's Fed meeting minutes is hurting the financials on the FTSE 100 this morning. Standard Chartered has fallen 2.1pc while HSBC has dipped 1pc, its heavy weighting pulling the index down.

The FTSE 100 is running on autopilot this morning, according to IG chief market analyst Chris Beauchamp. 

He commented:

"In case it has escaped anyone’s attention, it is August, although from looking out at the weather in London you could be forgiven for supposing otherwise. This feels like a market that is running on autopilot, a state of affairs not helped by the lack of big-ticket corporate news.

"UK retail sales came in a touch stronger than anticipated, helping to push sterling a little higher against the dollar, but overall the currency continues to struggle, given the sceptical reception given to the UK’s Brexit proposals thus far." 

Looking at tomorrow's corporate calendar, things will not be livening up any time soon.

10:48AM

Eurozone inflation remains steady at 1.3pc, in line with expectations

Euro
Eurozone inflation remained steady at 1.3pc in July

Eurozone inflation remained steady at 1.3pc in July, coming in line with expectations, Eurostat has just revealed.

Eurostat said that the largest upward impacts on inflation came from accommodation services and package holidays while falling telecommunication and fruit and vegetable prices pulled down the figure most.

The currency markets remain largely unimpressed with today's data. The euro has shown little reaction to the latest release with the pound trading 0.1pc higher at €1.0989 against the currency.

Investors might be holding off until the latest ECB meeting minutes drop at 12.30pm but given recent reports that the central bank's president Mario Draghi will not, as was expected, reveal the winding down of the ECB's bond-purchasing programme at the Jackson Hole conference later this month, few clues are likely in the latest release.

That said, little to upset the markets was expected in the Fed's minutes last night either.

10:31AM

Retail sales data completes trio of better-than-expected macro releases

Gap
Will the gap between inflation and wage growth continue to narrow?

The UK economy has run the gauntlet of economics releases reasonably well this week. None of the inflation, wage growth or retail sales data releases have blown away the markets but all three paint a slightly rosier picture than expected.

Here's a quick recap if you've missed any of it sunning yourself in Marbella:

  • Inflation held at 2.6pc on Tuesday despite expectations that the squeeze on households would be worsened by a incremental rise in the figure.

  • Wage growth in June picked up to 2.1pc to close the gap with inflation hurting real wage growth.

  • Retail sales growth in July slowed to 0.3pc from June's bumper figure, slightly ahead of expectations, to show that the British shopper remains resilient.

The crucial one is the gap between inflation and wage growth narrowing. If that trend continues (and it must be noted that economists don't believe it will) then embattled high street retailers should also see their figures improve.

10:12AM

Retail sales reaction: UK consumer is extraordinary resilient

Retail sales data is keenly watched by economists as a pointer on the health of the economy, which is heavily impacted by consumer spending. Here's some snap reaction from economists to the latest data.

Ben Brettell, senior economist at Hargreaves Lansdown, argues that UK consumers are showing how extraordinarily resilient they are in the latest retail sales figures.

He says that the UK consumer has confounded expectations since Brexit:

"The UK consumer is extraordinarily resilient. Spending has defied expectations of a slowdown since the Brexit referendum, and currently seems to be holding up despite weak wage growth and above-target inflation. This could bode well for economic growth – the UK economy is heavily reliant on the consumer, and economists had expected falling real incomes to eventually translate into weak retail sales.  

"If this fails to materialise the economy could see a stronger second half to the year – though there are also growing concerns over the level of household debt, which is fuelling continued consumption in the absence of rising real wages."  

Ruth Gregory, UK economist at Capital Economics, says that the data has held up well given the macro conditions:

"July’s retail sales figures were fairly encouraging given the recent intensification of the squeeze on consumers’ real incomes and suggest that talk of a sharp consumer slowdown has been overdone.

"There have been few signs of a sharp slowdown in spending growth away from the high street either. What’s more, with annual retail sales values growth remaining at a still strong 4.1% in July, this suggests that consumers haven’t been tightening their belts as a result of Brexit uncertainty. Accordingly, as the effect of the fall in the pound on inflation starts to fade, there should be scope for spending volumes growth to accelerate."

9:50AM

B&Q sales drop at Kingfisher while Homebase owner Bunnings falls to £54m loss

B&q
B&Q sales fell in the second quarter

Consumers appear to be turning their backs on DIY as B&Q reported a slump in sales and the owner of Homebase posted a loss of more than £50m.

B&Q owner Kingfisher said sales at the home improvement chain were down 8pc in the second quarter, or 4.7pc on a like-for-like basis. Its shares fell 4pc in early trading, sending it to the bottom of the FTSE 100.

Meanwhile the British arm of Homebase owner Bunnings reported a £54m annual loss in its first full year of ownership of the DIY chain.

FTSE 100 company Kingfisher said ongoing problems in its French business had continued over the summer, with sales plunging by 3.8pc to £1.2bn.

In the UK, Kingfisher said B&Q was affected by a tough comparison with last year, as total sales fell by 7.8pc to £967m.

Read Sam Dean's full report here

9:42AM

Strong food sales responsible for growth, says ONS

Here's what Ole Black, the ONS' senior statistician, had to say about the latest retail figures:

"The underlying trend at the beginning of 2017 showed a relatively subdued picture in retail sales. Strong food sales have been responsible for the growth of 0.3% in July compared with June, as all other main sectors have shown a decrease.

"Whilst the overall growth is the same as in June, trends in growth in different sectors are proving quite volatile."

9:40AM

Retail sales key takeaways

  1. Retail sales rose by 0.3pc in July compared to the previous month, a slowdown from June's surprise 0.6pc growth.

  2. Strong food sales responsible for the increase, according to the ONS.

  3. Pound has muted reaction to the narrow beat on the currency markets.

  4. All sectors except food and household goods stores declined.

9:35AM

Retail sales for July better than expected 

Retail
Retail sales in July have narrowly beaten expectations

Retail sales slowed month-on-month to 0.3pc in July, slightly ahead of expectations but still half June's bumper figure. The narrow beat has garnered a muted reaction on the currency markets. 

9:26AM

Retail sales expected to retreat following June's bumper figure

June
June's robust 0.6pc growth is not expected to be repeated

Retail sales data for July is due very soon and we're expecting growth to retreat to 0.2pc following a bumper June figure, which was lifted by warm weather. 

Any result showing that the high street is weathering the consumer storm engulfing the sector better than expected will push up discretionary stocks and could help the pound build on its gains against the dollar

9:14AM

Number of stocks going ex-dividend weighs on FTSE 100

BATS
British American Tobacco and Imperial Brands going ex-dividend has hit the FTSE 100 this morning

It's looking like an uphill struggle for the FTSE 100 today as, in addition to the pound's strength against the dollar, a number of heavyweight stocks are going ex-dividend, including British American Tobacco, Imperial Brands, Reckitt Benckiser and Schroders.

Insurer Admiral has continued to slide following its disappointing interim results yesterday while Kingfisher has slumped 4pc as it revealed that its B&Q chain suffered a drop in sales.

8:58AM

Dollar knocked by US Fed indecision over weak inflation

December
The probability of a December hike has fallen to 40.6pc

The dollar has retreated firmly into the red against all of the major currencies following the release of the latest US Federal Reserve meeting minutes.

The minutes revealed that the central bank might hold fire on hiking interest rates due to sluggish inflation, sending the dollar spiraling. 

A split is growing at the central bank with some members of its policy-making committee concerned that inflation, currently at 1.5pc, is too weak to risk a hike while others believe that leaving rates unchanged could lead to an overshoot on inflation.

The split shouldn't have surprised the markets, according to CMC Markets analyst Michael Hewson:

 "On the subject of when to push rates higher, these divisions shouldn’t really have been a surprise given the various briefings from several FOMC policymakers in recent weeks, from Neel Kashkari of the Minneapolis Fed and James Bullard of the St. Louis Fed on the dovish side, as well as William Dudley of the New York Fed and Robert Kaplan of the Dallas Fed who lean to the hawkish side.  

"It is clear that the weak inflation numbers are giving some FOMC members serious pause for thought, particularly since the Feds preferred measure of PCE is lower now at 1.5% than it was at the beginning of the year, and as such it is highly unlikely that we will see interest rates move again until December at the earliest."

8:33AM

Agenda: Split at heart of the US Federal Reserve lifts sterling against the dollar

Janet Yellen
The split in the Federal Reserve surprised traders who dumped the dollar on forex markets

Welcome to our live markets coverage.

Overnight, minutes from the latest US Federal Reserve meeting has pushed the pound up against the dollar as a split emerged at the heart of monetary policy across the pond

The indecision in the Federal Open Market Committee, the central bank's team of policymakers, over whether to let inflation pick-up before tightening monetary policy surprised investors betting on a rate hike before the end of the year and balance sheet reduction sooner rather than later.

The pound has advanced 0.3pc against the dollar this morning, trading at $1.2881.

Macro releases continue to dominate thought on the markets with the ECB's latest meeting minutes and key UK retail sales data due later today.  

The weaker dollar has knocked European equities this morning with the FTSE 100 nudging down into the red early on.

B&Q owner Kingfisher is suffering most on the blue-chip index, slipping 3pc, after reporting a second-quarter sales fall. A weaker dollar lifting commodity prices has mitigated losses on the UK's benchmark index with the miners bouncing into positive territory as a result.

Interim results: Oxford BioMedica, Kaz Minerals, Allied Minds, India Capital Growth Fund, Hikma Pharmaceuticals, Apax Global Alpha, Frutarom Industries, Marshalls, Admiral Group

Full-year results: Rank Group

Trading statement: Kingfisher

AGM: South African Property Opportunities

Economics: Retail sales m/m (UK), Unemployment claims (US), Industrial production (US), CB leading index m/m, Trade balance (EU), Final CPI (EU), ECB monetary policy meeting accounts (EU), WPI m/m (GER)