Germany gross domestic product declined 0.1% in the second quarter of the year, an unexpectedly weak reading that cools hopes of a sustained recovery for the beleaguered economy this year.
The Swedish krona may struggle in the near term as Sweden’s recent economic data support the market’s expectations for interest-rate cuts, Commerzbank said.
Spanish and German inflation data combined with subdued eurozone GDP growth should further support the eurozone government bond market’s constructive backdrop ahead of the Federal Reserve’s meeting on Wednesday, Commerzbank Research said.
Diageo reported an 8% rise in operating profit despite a slight fall in net sales, but said it was confident sales growth would return “when the consumer environment improves.”
Glencore said it expects to produce between 19 and 21 million tons of steelmaking coal this year despite overall output largely declining in the first half.
