Russia: Hungarian Foreign Minister Peter Szijjarto will visit Russia, where he will meet his counterpart Sergei Lavrov and Russian Deputy Prime Minister Alexander Novak. Hungary has requested a significant increase in gas deliveries to Moscow. Meanwhile, there will be legal proceedings against WhatsApp and Snapchat over the tech companies’ alleged refusal to track Russian citizens’ data.
Economic news: Germany releases preliminary consumer price index data. France to publish consumer confidence figures.
United Kingdom: The 22nd Commonwealth Games begin in Birmingham. Meanwhile, the UK central government’s latest extension to Transport for London’s short-term funding after the lockdown expires. The Society of Motor Manufacturers and Traders publishes monthly vehicle and engine manufacturing figures and the British Film Institute publishes a breakdown of the number and spending on films produced in the UK in the second quarter.
Barclays: The British bank publishes the results of the first half. In April, Barclays said profits fell 18 percent in the first quarter and the bank had to delay a promised £1 billion share buyback after a spike in litigation.
Corporate benefits: ArcelorMittal, BAE Systems, Banco Santander, BT Group, Centrica, CMC Markets, Co-operative Bank, 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 publish their earnings.
Markets: Euro Stoxx 50 and FTSE 100 futures rose 0.6% and 0.2% respectively. Asian shares followed the US rise after the Federal Reserve raised interest rates by 0.75 percentage points, but signaled it may soon slow the pace of its hikes.