Two weeks after unveiling its closely anticipated strategy review, the ECB will face questions at its Thursday meeting on what its new 2% inflation target might mean for policy.
The dual-track economy is seeing supply-side headwinds, growth and exports are peaking, while consumer spending flags. An uncertain regulatory environment for big firms and standoffs with the United States are weighing on investor sentiment. A darling of last year's stay-at-home trade, Netflix shares are up just 2% this year as investors have shifted to stocks which benefit as the economy reopens. Lower production of TV shows and movies during COVID-19 have dented subscriber growth.
Profits of the 600 biggest listed European companies are seen surging 110% between April and June, according to Refinitiv I/B/E/S data. The British media dubs it "Freedom Day," Germany describes it as a "highly risky experiment". So, who's right about July 19, the day Britain drops its COVID-19-linked activity curbs and mandatory mask-wearing?
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