July 24 - Another set of strong European earnings could help keep U.S. driven stocks rally on track, but data could paint a more lacklustre picture on the economic front.
The heavy planned European earnings continue to sit on the whole they've been good enough to keep the US driven body on track and protection also rising today surprisingly strong PMI at Vegas in Germany and the Euro -- suggesting the seventeen nation bloc is finally exiting recession. So tomorrow is results have been stole. Public pilot is Credit Suisse reporting keeps you signings the Swiss banks set to continue the positive run a financial planning net profit -- seen rising. Almost it led to one billion Swiss francs according to which is pole. Banks can also reporting Q2 -- says the Spanish bank under pressure to raise cash despite reassurances in June by the west to save -- And staying in Spain Telefonica is seen posting a 9% drop in fast top revenues. The telecoms group his in the middle of a major acquisition of KPN's -- and units but has been hit by weakness and knocking it. Tourists spending increases should seep through into Q2 results from luxury goods groups LVMH anchoring unhealthy product around. Well I think global spending accelerated to 14% in the second quarter from 10% and the press. A pattern retails at about cut bill says it's not all rosy for the luxury giants. I think. LV MHI am and at carrying will be on the -- to expand that into that offering safety need to become. A little bit more accessible online to chat you can Siemens. That's my girl I think he should be -- Fannie did. And and results for the -- -- tennis. And -- -- get check out our show and what's next a -- street and a name that's on the apple now. On the -- her friends we get a -- -- a second quarter growth from AG seven nation with -- expected showing growth of zero point 6% on the quartet. And one point 4% year on year. I'll be the highest since 2010. But pretty groups of balance and Murray -- says that's still way to go ahead. For them that's still a rather. We. The recovery historically. So any backup in rates that anything they -- to desist earning appreciation or indeed increasing short term rates those -- guilty yields -- blonde and of the cup. We'll -- met with some resistance -- right to lean against that well this still -- is a premature. Tightening. Elsewhere in Europe Spanish unemployment expected to take up slightly three new -- 27 point 2% in Q2. And John any business confidence stays wait on the I've -- entities the main index expected to Ryan again 200 in nine point seven. According to a Reuters poll. And not just today surprisingly strong PMI Vegas. The best against an even higher and come back. Yeah same private lending -- missiles that used by the contraction is expect his continuing from last month. Europe's recession continued to stop appetite for investment shrinking private sector lending will turn up pressure on the ECB of that action. And well -- -- paid to visit to Brazil continues tomorrow it may take the consent if he plans to tour one of the most infamous slums and Rio de -- it. Protests met the 76 year old -- Francis when he arrived in the country on Monday. He's press pontiff from Latin America. Mean luncheon India -- on the ruling islamists and not a posse have called for mass anti government demonstrations. That's after the topping out at this month that -- -- Islamist government. Ousting a full of presidents have been on a more than two years ago it triggered a wave of uprisings around the Arab world. And that's it -- heads to says hey I'm -- all. This is --