Russia: Hungarian Foreign Minister Peter Szijjarto will visit Russia, where he will meet his counterpart Sergey Lavrov and Russian Deputy Prime Minister Alexander Novak. Hungary has requested significantly increased gas supplies from Moscow. Meanwhile, court cases will be held against WhatsApp and Snapchat over the tech companies’ alleged refusal to locate Russian citizens’ data.
Business News: Germany publishes preliminary consumer price index data. France to release consumer confidence figures.
UNITED KINGDOM: The 22nd Commonwealth Games begin in Birmingham. Meanwhile, the UK central government’s recent extension to short-term funding for Transport for London post-lockdown is expiring. The Society of Motor Manufacturers and Traders publishes monthly vehicle and engine manufacture figures and the British Film Institute publishes a second quarter breakdown of the number and editions of UK-produced films.
Barclays: The British bank publishes results for the first half of the year. In April, Barclays said first-quarter profits fell 18 percent and the bank had to postpone a promised £1 billion share buyback after a legal battle.
corporate profit: ArcelorMittal, BAE Systems, Banco Santander, BT Group, Centrica, CMC Markets, Credit Union, CVS Group, Diageo, Enel, Hammerson, JCDecaux, L’Oréal, Leonardo, Nestlé, OMV, Orange, Relx, Rentokil Initial, Repsol, Royal Dutch Shell, Sanofi-Aventis, Schroders, Segro, Smith & Nephew, St. James’s Place Wealth Management, Stellantis, STMicroelectronics, Total, Vivendi, Volkswagen and Weir Group report results.
Markets: Futures for the Euro Stoxx 50 and FTSE 100 rose 0.6 percent and 0.2 percent, respectively. Asian stocks trailed the US higher after the Federal Reserve hiked interest rates by 0.75 percentage point, but signaled it may slow the pace of its hikes soon.