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Surveys show Brexit impact on UK and eurozone economies – business live

Discussion in 'Market News' started by Lily, Jul 22, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
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    New data released this morning will show how British firms have fared since the public voted to leave the EU

    7.53am BST

    We’ll get the first clear glimpse of how Britain’s economy has fared since the EU referendum this morning.

    Markit’s Purchasing Managers Index survey, due at 9.30am, will show if UK manufacturers, construction firms and services companies expanded or contracted in the last few weeks.

    Markit is releasing a special one-off ‘flash’ version of the July UK PMIs today based on ~70% of the normal responses.

    The UK PMIs were already drifting lower even ahead of the referendum. Now they are expected to dip below the breakeven level of 50. In the case of services, that would be the first contractionary reading since late 2012.

    #UK releases Jul prelim PMI as first piece of eco data post-#Brexit. Be prepared for weak data & potential sell-off in UK assets, #GBP.

    7.33am BST

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

    There’s lots on the agenda to keep us busy today.

    “Sports Direct is by no means the only company to engage people on such terms.

    What this highlights is a wider issue of real work today. The government needs to seriously consider what legislation needs to be put in place to protect people from exploitation.”

    Related: Mike Ashley running Sports Direct like 'Victorian workhouse'

    Preliminary euro-area #PMI surveys out this morning. First major soft data after #Brexit to measure potential confidence shock. Stay tuned.

    Our European opening calls:$FTSE 6680 down 20
    $DAX 10111 down 45
    $CAC 4355 down 22$IBEX 8534 down 49$MIB 16681 down 124

    Continue reading...

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