July 9 - U.S. corporate earnings for the second quarter are likely to set the direction for European stockmarkets this week.
Stocks on the Euro under pressure as worries about global growth intensified. And a breakthrough in Europe's debt crisis looks as far away as ever it. With search for safe assets has seen huge flows into US and German government bonds. But National Australia Bank Tom -- SS the flight to safety has been over done and deals on our way to that. In both cases certainly the market has run ahead of itself I understand why perhaps panic. And fear have led people to invest -- would seem to safer assets abroad I'll get a world in which the US is not double -- rated. About genuine -- the German taxpayer has to attention paid to -- out of Spain Italy. Then ten year government bond and not a good place you could you money at amendment. -- markets will be taking direction from US second quarter corporate earnings. This week's highlights not until Friday when JPMorgan Chase reports perhaps surprisingly given all the worries about growth. Global stocks have gained around 5% on the yes I've fall. When looking ahead to choose to -- Germany's constitutional court begins examining complaints about the EU's permanent bailout fund. Judges are not expected to block the mechanism. -- the German president says he won't sign it into mole without the courts go ahead but a lengthy delay could further unsettle investors. The French president Francois along this set to make his first official visit the UK. They'll hold talks with the British prime minister David Cameron. There's already ruffled feathers in Paris by rolling out the red carpet to French citizens wanting to escape on loans taxes on the rich. The French leader will also meet Britain's Queen Elizabeth no interpreter required she said to be a fluent French -- A Boeing -- to have us square up to each of of this week the world aviation industry is holding its annual jamboree this -- and Fulmer in the UK which takes offense with Paris and hosting the event. What is -- and satellite ripples from the action. Well as usual is all about Airbus and -- going head to head full commercial jets borders. Both companies have new generation narrow bodies to sell here last -- up to around a 150 seats in size. Boeing has some -- Macs and -- I drink plenty in the now no doubt we'll major order announcements this week spots. Blood is not Carlson pretty big discounts being offered to secure these orders maybe up to 50% or even more. So that raises the question even if we do you see big -- us here. What -- I mean the bottom line for both companies. Let's all from us and now there's more from inside threat Reuters dot com on Jay Jonas each weekday morning -- Reuters today. A snapshot of the latest world news market headlines and social media biased I'm Nigel Stephenson best --