Reuters Insider - UK Day Ahead: Germany industrial orders, eurozone Q2 revised

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05/09/2016 15:49

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 Source:             Thomson Reuters                                   
                                                                       
 Description:        Europe's biggest economy will post its industrial 
                     orders for July. Economists are eager to see how  
                     the Brexit vote has impacted figures. And revised 
                     Q2 figures for the eurozone are due to be         
                     released.                                         
 
 
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Transcript (May be auto-generated)

                 Good afternoon. I'm Kimberley Lim, and welcome to your exclusive insight into 
the big economic and corporate events on Tuesday. Europe's biggest economy will 
post its industrial orders for July. In June, German factory orders plunged due 
to weaker foreign demand for goods, suggesting global weakness was weighing on 
the economy. Industrial orders for July are forecast to be up 0.5%- that's 
according to a Reuters' poll, from -0.4% previously. Economists are anxiously 
waiting for the latest figures to see if the UK's EU referendum has had any 
consequences. I certainly anticipate the German economy is running out of 
momentum- in part because they have a very high savings ratio and had been 
heavily dependent on exports. Now, of course the global economy relatively weak,
Germany's export miracle is no longer able to drive the economy at the pace that
they would like. And elsewhere, Switzerland will release its second quarter GDP 
and inflation figures for August. In July, CPI fell 0.2% and we'll get an 
insight in the economic growth of the Eurozone tomorrow when revised Q2 figures 
are released. In August, GDP in the bloc expanded 0.3% in the second quarter and
was up 1.6% compared with the same quarter last year. Company news now, and 
British bicycle and car parts retailer Halfords is set to post its Q1 trading 
statement. In July, the firm said it could face a profit hit from a weaker Pound
following the 

Brexit vote. Two of Britain's big house builders - Berkeley and Redrow - update 
the market on what impact the Brexit vote has had on demand. Berkeley has 
recently halted construction on a GBP20 million luxury housing project in 
London, sparking questions as to whether reservations are dropping off. And 
emerging markets-focused fund manager Ashmore is also set to release its full- 
year earnings tomorrow. The firm reported a $1.3 billion rise in fourth quarter 
assets in July due, it said, to improved investment performance. Well, let's 
take a quick look at the markets now, and Sterling jumped to a seven-week high 

against the Dollar earlier today, and hit a one-month peak against the Euro. 
That's after the Markit/CIPS PMI survey showed Britain's services industry 
bounced back strongly in August from a slump triggered by June's vote to leave 
the EU. Okay, let's take a look at how markets stand as we head into the close. 
The FTSE is looking choppy today- shares of RBS and Lloyds Bank weighing on the 
overall market, while the FTSEurofirst touched a four-month high in early trade.
Telecoms company SFR leading the gainers after Altice made an exchange offer for
the rest of the shares it doesn't already own. Well, that's it for now. I'm 
Kimberley Lim, and this is Reuters