European stocks set for muted open; commodities tumble

📆 18-06-21 11:34:00
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European stocks are expected to open flat on Friday, but set to end the week in positive territory following a hawkish pivot from the U.S. Federal Reserve.

On the data front, May's U.K. retail sales fell 1.4% month on month, official statistics revealed Friday, falling short of the 1.6% expansion expected by economists in a Reuters poll. The Office for National Statistics said food stores contributed most prominently to the surprise decline.

Meanwhile, the German Producer Price Index rose 1.5% month on month in May, vastly outstripping the 0.7% consensus forecast. On an annual basis, the PPI was 7.2% against a projection of 6.4%.

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