Aug. 2 - Better-than-expected data pose conundrum for the Bank of England, Italy hopes its data get less bad, and HSBC may outpace StanChart on earnings.
Great hopes and focus in Europe next week in the UK investors will be looking to see if the services PMI for July 8. And June industrial production figures backup the recent strong upturn in activity. The main focus -- will be the Bank of England's inflation report Wednesday. And -- on his -- press conference will the bank press ahead with its -- guidance. Will strengthen the recent -- to force a rethink. On the Euro -- macro front next week the big releases Italian GDP the pace of recession expected to ease in the second quarter cent to know point 4% contraction from nor point 6%. The annual rate of contraction seen slowing to 2.2 percent. This would face into the border trend the Euro zone is slowly but steadily. Putting itself out of recession and the other month there are reports of -- full well Italian French and German industrial production for June. German and French trade figures for June and PMI numbers for July from France and Spain. Until we have -- today's figures -- a fifth straight month before in the number of people out of work is another sign of gradual recovery Wright's. Perhaps but the emphasis is very much on the gradual so Citigroup's not into mount enough. Why you could say that that we've seen the -- It may be a bit premature to resume that we will see growth or indeed employment. Returning at any time soon so from that point of view the problems -- up playing the Euro and indeed had been weighing on the Euro for so long are still very much and plays. Equality for the magic on sales Germany -- any major -- four billion years to find you here next year on the block on Wednesday. Enjoy your earnings calendar -- British banks still in the spot lines analysts expecting a strong first off number from HSBC Monday. On the back of steep falls in operating costs and loan charges standard chartered report today -- and expectations of a slowdown in the first half. But an upbeat outlook for the rest of the year. UniCredit numbers around the same day and ING delays -- the -- -- -- to keep -- -- -- go to Rio -- -- Wednesday and testing. I -- look at the next race market moving events signs of problems --