Aug. 8 - Friday’s top 5 stories: Russia’s rates, fresh Chinese data, earnings season roundup, the Ashes, and the biotech craze that’s crossing the Atlantic.
-- roundup of Friday's five need to know day's best up Russia's Central Bank will probably keep interest rates unchanged at five and a half percent. Pretend that successive month. We -- -- rising inflation for costs likely to outweigh the benefit and Russia to cut for now. Number it's huge sign of backing thickest -- does that -- surprisingly found trade numbness. Pockets watching to see whether or not retail sales industrial output since PPI numbers out tomorrow and continue the trend. Jun ten co head of recess -- one investment management to the China slowdown story exit. Is exaggerate it he says seven to 8% growth isn't such a bad thing. One of the reasons why China is experiencing a relatively modest slowdown in this economy is precisely because it is so aggressively reforming its economy. That bodes very well for the future and for the near time I really don't think there is a going to be huge change in the growth -- I think. -- growth is going to remain -- current levels for the foreseeable future as China goes through -- structural adjustment. And on the thirty year -- -- season drawing to a close I've been largely positive with about all the leading companies. Missing or beating expectations. There is -- helping to drive a six week rally which has also been supported by strong economic data. The Portuguese and Greek industrial output is entry -- is out Friday not likely to be -- positive. -- more investment management and then says deep seated problems and the euros and mean investors should be cautious. The region as a whole has too much debt and productivity is far too low. And what that means of course is that there is far more pain ahead. Even though Europe has found a way in the short term to stabilize. It's sentiment about the region. I don't really see why history cheating investors. With. Go in and take a long time punt on Europe. Not the full and hosting European Biotech companies reporting on Friday including nervous times and -- -- tech and Biotech pharma Colin. Patrick is hot on Wall Street that -- up 45%. On the NASDAQ this year. This side of the Atlantic -- less of tweeting frenzy but appetite is growing. Think to capitalist pouring and and European companies are increasingly eyeing US expectations. Let me into being Danish Biotech company nervous times chief executive had to hold Nelson. On Friday about second quarter results and -- any cricket at number five. -- has furcal ashes test between England and Australia. England retain the trophy opt to eat green paint that test and not just. That was quick finish means Australia. Out playing for pride. And that's a look ahead to Friday's key events I'm managing all. This is going to.