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Could This Week be Decisive of Divisive for Europe? The Week Ahead



As we build up the last leg of the run up to the European Elections, there will be a lot of focus on the candidates this week. There are also elections this week in Belgium, Switzerland, Cyprus, and Hungary.

I suppose, on the subject of elections, we cannon not mention the televised debate in the UK this week, although it will no doubt just end up like two pigeons showing their chests rather than actually proposing solutions.

Moving away from elections altogether, at the weekend we published the agenda for the Bonfires of Alicante, which you can see on the This is Torrevieja website, and there is a mini exhibition taking place right now in the Casino in Torrevieja.

Monday 3 June 2024

On Monday, Ponteareas in Pontevedra, Burela in Lugo and Sanlucar de Barrameda in Cadiz all celebrate local holidays.

Monday will begin with the manufacturing PMI for May in Spain, the UK, Germany, France, Italy, the eurozone as a whole, despite the first reading of the PMIs showing an acceleration compared to the previous month, the leading activity indicator of the industrial sector will foreseeably continue below the expansion level, evidencing the complex scenario in which the Eurozone finds itself.

Plus, the week also starts with new data on the evolution of tourism in Spain. Specifically, the INE publishes the survey of spending and tourist movements at borders for April.

In the UK, the UK Finance household finance review is published.

London will be commemorating the 7th anniversary of the London Bridge attack.

Tuesday 4 June 2024

On Tuesday the 4th we will know the registered unemployment in Spain. After registering a drop of 60,000 people in April, placing the number of unemployed people at 2.6 million, the lowest figure since September 2008, the beginning of the summer season is expected, as usual, to favour hiring. At the same time, we will also know Germany’s unemployment rate, which is expected to remain at 5.9% of the active population.

Rail transport figures in Spain are also published by the INE on Tuesday for the first trimester of 2024.

Merlin Properties pay dividends on Tuesday, and we will get to learn who is doing well during a cost-of-living crisis with the Fortune 500 listing.

Prepare to mark the spot with an X one month from today, as the General Election is on 4 July.

According to the UK Government website, the deadline for registering to vote in the General Election is 11:59pm on 18 June 2024. If you’re abroad, you can vote by post, or by applying to have someone else vote for you (voting by proxy).

Tuesday marks the 35th anniversary of the Tiananmen Square massacre.

Wednesday 5 June 2024

On Wednesday the 5th, the final reading of the PMIs for the services sector in the Eurozone and the United Kingdom, as well as the composite PMIs, will be published.

Additionally, we will know the Eurozone PPI in the month of April.

The FTSE 100 annual review is published on Wednesday.

Thursday marks the 80th anniversary of D-Day and events are scheduled to take place in commemoration of the event, but on Wednesday politicians will join King Charles, Queen Camilla and the Prince of Wales for the UK’s national commemoration on Southsea Common, featuring testimonies from D-Day veterans and a Red Arrow display, followed by a community vigil and light show in the evening.

The internationally renowned Berlin Air Show, ILA 2024 starts on Wednesday and runs through the weekend.

Wednesday is also World Environment Day, where various activities take place to try to protect nature and save the planet.

The biggest clothing retail chain in Spain, Inditex, publishes results on Wednesday. And Ebro Foods hold their AGM, as do Walmart and Centrica.

Thursday 6 June 2024

La Oratava in Tenerife and Valedepeñas in Cuidad Real celebrate local holidays on Thursday.

On Thursday, investors’ attention will focus on the Eurozone retail sales data for April and the ECB meeting. Although the latest Eurozone inflation data has shown an unexpected acceleration in prices, investors are discounting a 25 bp drop in interest rates.

Data on tourist home prices for the first trimester and industrial production for April will be published in Spain by the INE.

In the UK we will have the construction PMI, and the quarterly update on GP workforce.

Thursday will also bring the annual ‘What Kids Are Reading’ report to light, which could prove interesting reading for adults.

Lunatics will be pleased to know we have a new moon on Thursday.

Friday 7 June 2024

Burgos will be celebrating their holiday today, as will Tordesillas in Valladolid.

The first week of the last month in this half of the year will end with the publication of the trade balance of Germany and France, and the final reading of the Eurozone’s Q1 GDP.

A special traffic operation starts on Friday in the La Rioja region, running through the weekend, as the region celebrates their special day.

In the UK, Friday marks the deadline for general election candidate nominations, but more importantly for some, Taylor Swift begins her UK tour in Edinburgh.

Friday also sees the publication of Moody’s sovereign reviews of the UK and Ukraine, and the Halifax house price index, and Alphabet (Google) hold their annual shareholders’ meeting.

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