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Europe Day Ahead: Draghi makes a bee-line for London

Friday, May 17, 2013 - 02:47

May 17 - A look ahead to next week’s key events including Mario Draghi’s return to London, the latest euro zone flash PMI data, plus fashion forward numbers from Burberry and M&S.

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A week short of blockbusters but plenty but investors to tour. After this week's disappointing GDP -- up. Flash PMI is the unit is only likely to shall be done in Germany sectors like construction catch up following the -- went up. Fronts and the rest of the -- unlikely to be so lucky. Debating global economics managing director I'm not us says there still a long way to go. Even if the next couple PMI's. Show a bit of an uptick Europe still has its issues -- it to get to grips with. And although there's been some easing in the rhetoric around fiscal austerity there hasn't been much actual easing there. And nor is there much easing from the ECB right there's been a rate cut but the monetary policy transmission mechanism in the -- is broken credit spreads are still sky high we're actually. Small businesses small and medium sized enterprises and and some businesses even larger businesses are borrowing. So I think you know there's there's still a lot of issues in Europe. And I wouldn't be too optimistic about economic performance. Short and medium term. Ten months after his place to save the you don't change the dynamics of debt crisis ECB chief Mario drive David -- to London. He says the bank is prepared to act if the economy Watson's. But what -- need to news. Perhaps is key speech will provide some clues. -- says fresh threats right collectors the -- law. Mario Draghi is clearly a maestro. Of the spoken word. And I'm sure he will you know he'll come up with other ideas. And unconventional rhetoric if not actually unconventional policy which may have the effect -- in in some sense. Talking down the Euro without directly doing that's in a way what happened with his allusion to negative interest rates. With. ECB backing another new Japanese money coursing around the world looking for a -- bond market pressure in the eurozone has eased. Spain selling bells and holding a -- on the auction next week and may be mired in recession. But that soft spot effortlessly raise more than half its total funding for the year and just five months. And IMF team paying a visit for a third review of -- banking reforms. And company news final numbers due from -- the Irish airline bullish over passenger numbers saying it sees growth rates doubling by 2018. Preliminary numbers due from -- demands -- affluent Asian customers boosted sales in the fourth quarter of prelim is also what from and the next Britain's biggest clothing retailer hoping better quality and styles over the past two years of slumping sales. Vodafone the world's second largest -- while culprits are also releasing its prelim results. Not so look ahead to next week I'm Jamie -- gave up. This of -- of.

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Europe Day Ahead: Draghi makes a bee-line for London

Friday, May 17, 2013 - 02:47