May 2 - No change expected on rates, but tomorrow's ECB statement will be scoured for clues to when, or if, the bank might ease policy.
Bank stocks take a battering in Europe as an industrial slowdown shows signs of spreading to the hearts of the region. Manufacturing numbers tumble even in Germany. BCB gives us its latest policy decision tomorrow no change expected on race for the latest economic weakness means analysts will be looking for clues on when. Flores the bank will ease policy further. -- present Mario drug mules are likely to be Austin for a response to today's comments. But -- while all along the front runner in the French presidential election today it's ECB to lend directly to struggling countries. Two big bond auction set to test investor knows tomorrow France planning to sum up seven and a half billion euros of debt maturities out to October 20/20 five. Meanwhile Spain will try to get away up to an off billion euros of short today to debts. Three and five year bonds on the pro marriage Madrid once again -- friends -- yields push -- 6%. At a big jump in yields tomorrow like -- fuel a growing sense that sprain will struggle to avoid a debt restructuring. We've seen as Pamela is now. This morning -- painted a very grim picture he's seen rising unemployment in spying it's that 24%. With 52% of youth unemployment. That's really going to fade into the bank lends a distress funds in the mortgage market. The Spanish banks will have no way. And actually you re tying any of that old getting back any of that debt and has found itself -- not really in a position to -- amount so I think that that restructuring. Is inevitable. -- earnings and so general -- had to give us more clues to the state demure reserved lend us some optimism today off to Morgan Stanley. Said it expected decent numbers from the French bank elsewhere on the region keeper miles -- first quarter numbers from BMW and -- -- The German -- seen posting a wider operating loss of 299 million euros according to analysts polled by Reuters. High fuel prices and mounting competition seemed to blame that. That is all from us and -- join aside every day -- this time for a preview of the trading day ahead. I'm axle problems is --