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Markets nervous ahead of eurozone services reports – business live

Discussion in 'Market News' started by Lily, May 4, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
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    All the day’s economic and financial news, including the latest healthcheck on Europe’s economy and results from Next and Sainsbury

    7.51am BST

    Retail group Next has got the morning off to a bad start, by cutting its sales guidance for the second time in two months.

    Though sales have improved in the past few days as weather has improved, the company said demand for clothes could stay weak.

    In the three months to 2 May Next’s total sales fell by 0.2% and full-price sales dropped 0.9%, at the low end of full-year sales guidance of -1% to 4%.

    Related: Next warns on sales and profits

    7.32am BST

    Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

    After yesterday’s jitteriness, traders in Europe are pretty cautious as they wait for a flurry of economic news.

    The Spanish economy has been notable for its outperformance in recent months despite continuing high levels of unemployment and today’s latest numbers are expected to come in at 55.1, while Germany is expected to remain unchanged at 54.6.

    On the downside the French numbers have consistently underperformed, though we are expecting to see a pick up to 50.8 as the French services sector strives to shake off the after effects of the November attacks in Paris.

    Our European opening calls:$FTSE 6182 down 4
    $DAX 9921 down 6
    $CAC 4361 down 11$IBEX 8745 down 20$MIB 17950 down 16

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