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Europe Day Ahead: Bernanke’s limelight & sunshine splurging

Wednesday, July 17, 2013 - 03:46

July 17 - U.S. Fed Chair Ben Bernanke continues to command markets’ attention on Thursday for the second day of his policy testimony. Plus French & Spain debt auctions and the sun gives UK retail sales a boost.

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Teach train finance ministers and Central Bank governors meet in Moscow on Thursday top of the agenda at the two day meeting. What's the next step for the US Federal Reserve. Worries of course the fact could start tapering it's Kiely program later this year. Continues to sparked debate and fuel volatility and higher market interest rates are around the world. Now markets will be lifting -- to the second day of Fed Chairman Ben Bernanke's semi annual. Testimony for some answers. It's a communications challenge for Central Bank that has struggled the last couple of months. To clarify its policy intentions. And not even gone so far as Syracuse financial markets of overreaction and German finance minister Wolfgang Schobel is in Greece to discuss progress on reforms demanded by international backers would turn. For a bailout. Workers have held -- further strike this week to protest the bill which needs to be passed. Before Greece can receive a further six point eight billion euros in fresh aid. In fixed income Spain and France holding significant options on Thursday. France is looking to sell up to nine and a half billion euros of a mixture of bonds. Testing investor appetite increasingly. Uncertain market environments. John -- global fixed income strategist with Bank of America Merrill Lynch. Says although French stat looks more appealing Spain's -- tapering talk is boring buyers. That dynamics and economic indicators not looking very healthy. Investors are still reasonably happy to -- taxes as you know four year as an asset that offers a bit more you open. That made them stronger cool market spots. Again you know V the issue itself fist tomorrow will probably -- -- -- but why -- debt dynamics becoming more more troubling Franklin. EUK retail sales for June out Thursday and they saw two point 1% surge in sales but June numbers aren't expected to be as strong. With a marginal zero point 1% growth. A pick up in clothing sales as the weather warms up just sustaining that positive trends. On the earnings front. Ericsson the world's biggest supplier of mobile's network equipment reports its second quarter results on Thursday. -- we'll see profit up 30%. At 633 million dollars on a yearly basis. Erickson says that growth is being driven by surging Smartphone news and video streaming. Meanwhile phone maker Nokia reports is Q2 results. -- against a backdrop of falling sales. It is expected to show a steep fall in quarterly handset sales as consumers. Switch to Smartphones and cheaper models from Asian rivals. Chairman software group SA is expected to report Q2 earnings before tax interest that seven point three. Percent at one point 26 billion heroes. Luxury goods and make air mazes reporting Q2 sales numbers and Anglo American PLC is. Giving an update on its output on Thursday. And south Africans prepare to celebrate Nelson Mandela's 95 birthday. But the critically a leader is likely to remain on life support and -- hospital. Volunteers will mark -- day by spending 67 minutes on community projects. -- -- it for every year his activism. And that's our look ahead to Thursday he advanced. I'm Marion Martin this is Reuters.

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Europe Day Ahead: Bernanke’s limelight & sunshine splurging

Wednesday, July 17, 2013 - 03:46