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Europe Day Ahead: King's last stand at the Bank of England

Tuesday, June 04, 2013 - 02:27

June 4 - We will see if signs of economic life are flickering back into the euro zone from services PMIs and revised Q1 GDP, while the UK aims for a PMI hat trick. And Mervyn King chairs his last MPC meeting.

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Markets watching for signs of life in the Euro zone tomorrow final PMI readings and show how the service sectors and Italy France and Germany fed inmate. We'll also get a composite PMI reading for the entire eurozone initial reading suggested the region's recession. Might be easing. We also get revised eurozone GDP figures may change expected meaning the seventeen nation economy contracted by two tenths of 1%. In Q1. Staying in the Euro -- April retail sales expected to -- point 1% on the month. And no point 8% on the same month a year again. -- summer as well and truly here so will we see more green shoots of recovery -- that the UK tomorrow services PMI states are expected to show. Britain's dominant services sector expanded in -- -- displaced since last summer's Olympics. Already this week Carol we've had -- UK manufacturing and construction PMI reports that well what was complete the hat trick Mervyn King. Opens his lost monetary policy commencing BC tomorrow featuring tomorrow. The Bank of England governor steps down at the end of the month to be replaced by current bank of -- Canada governor Malkani. Too damn PC meeting is not expected to -- -- found -- policy easing either way studying doesn't look -- -- attractive says -- Newcombe. I'm just wondering whether people are getting something to going studying a long 53 based on recent construction PM on we tell sounds yes tonight. They might come to regret because -- tell us music -- are writing strike. Hopefully I won't 53 will put on the people and we don't know what mr. -- he's gonna live -- suspect it's the colony won't want studying appreciating too. All in the debt markets Germany auctions up to four billion euros a funny give bonds tomorrow. -- in corporate news Tesco reports Q1 trading figures sales of the UK's biggest retailer expected to full. Mocking a reversal from Q4. Profit fell lost it the first time in twenty years. And Tesco has spent a billion pounds on -- backed plan tomorrow is number. Make cost doubts on the effectiveness of this turnaround strategy and Austria is still make -- Alpine releases Q4 numbers. It's a year warning that full year sales won't come in lower than the previous year analysts expect 2012 to thirteen sales. -- eleven point six billion euros down 12% from Austria that is according to stop that's -- look ahead to Wednesday night. -- --

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Europe Day Ahead: King's last stand at the Bank of England

Tuesday, June 04, 2013 - 02:27