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Europe Day Ahead: Bumper earnings barometer

Tuesday, July 23, 2013 - 03:20

July 23 - GSK, ARM, Daimler, Easyjet, Iberdrola & Syngenta among the big names reporting their Q2 results on Wednesday, but will solid earnings be enough to sustain the European rally? Plus euro zone PMIs.

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It -- Manning's season is in full swing and most of big names reporting on Wednesday. It's this chip designer arm holdings as one stop to watch but bounced in analysts among those to predict a decent beats. Strong royalty revenues expected to drive those gains. Russell Smith -- also really sees as Q2 results that don't make -- Connolly told. But allegations of bribery over his businesses in China. CEO Andrew but he is struggling to deliver billions of pounds of cost savings but margins not get on a farm output trajectory. Tom because diamond ball won't release their Q2 results tree limbs fingers for Dinah -- the group's earnings before interest and tax. Coming at five point two billion euros for the second quarter. Easy jet Syngenta and even draw also reporting on Wednesday solid corporate outings providing a boost European equities. Dallas the -- market analyst at IG says there's enough there to keep -- -- -- From the going for the time being but investors should also have their eyes on American stocks. We've still got a half filed the the US markets. And the reporting season that's going on that but still is I think cam arguably just as important if not more so than the other than the European story certainly. They off further down the road to recovery than we are and is being reflected in so many of Barack corporate you -- that we -- seeing. I guess we weren't expecting quite as much out of the European scene as we were out of America or anywhere. Wednesday's big data point in Europe it's flush eurozone purchasing managers index report for July we get -- Germany France. -- the eurozone -- watching for confirmation that region is continuing to amounts from the worst of the recession. Eurozone manufacturing activity still confronting but that's a slower pace that goes on PI seen up to fought to nine point one from -- to eight point eight in June. Germany's manufacturing PMI also expected to improve to fought to nine point two from four to eight point six fronts not quite a strong. But also heading in the same direction bouncing back to fought to eight point eight. Census PMI is also improving front -- nudging up to 47 point six from 47 point two in June. Germany expects to shall I write expansion of fifty point eight compared with fifty point four the month before. While the Euro zone as expects to -- fought eight point 748. Point three. Employment dole is a lagging -- -- -- expected to be confirmed by numbers confronts tomorrow June jobless figures out on Wednesday likely to shall continue to gloomy picture up. But just pulls along with IMF and European Commission. One that unemployment will keep rising until until next year. You goes on I still on Portugal where the main political parties have halted talks on national salvation night leaving the government in limbo. The longer the political crisis goes on the less likely Lisbon will be able to -- has -- what program has plans. The -- school's president Silva has no doubt snap elections. Tenure deals done and I'm six percent now compared with over 8% at the start of the month. Italian retail sales from may until Wednesday in the sector suffered two point 9% contraction in April 8 consecutive monthly fall. Analysts predicting that negative -- is likely to continue and to me. Plus a look ahead to Wednesday I'm -- -- give -- a drug to.

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Europe Day Ahead: Bumper earnings barometer

Tuesday, July 23, 2013 - 03:20