10 things you need to know before European markets open
Good morning! Here’s what you need to know.
1. Former US presidential candidate Hillary Clinton cautioned Britain over its push to secure a trade deal with US President Donald Trump after it leaves the European Union. Clinton said Britain would face serious disruption if it left the EU without a negotiated deal with Brussels.
2. Oil markets jumped on Monday on concerns over potential renewed US sanctions against Iran as well as conflict in Iraq. Brent crude futures, the international benchmark for oil prices, were at $57.85 at 0356 GMT, up 68 cents, or 1.2 %, from the previous close.
3. Japanese Prime Minister Shinzo Abe’s ruling coalition is on track for a big win in Sunday’s general election. That’s even though almost half the country’s voters don’t want him to keep his job, a media survey showed on Monday.
4. French President Emmanuel Macron said he expected his labour market reforms to start having a noticeable impact on unemployment within two years. "Unemployment is currently falling. You’ll see the full effect of the reforms currently carried out by the government in 1-1/2 to two years," he said in his first live TV interview since his election in May.
5. Turkey is determined to press on with its efforts to join the European Union despite tensions with the bloc, the government said. The EU, particularly heavyweight member Germany, has become increasingly critical of Turkey since President Tayyip Erdogan launched a crackdown on critics, including journalists and academics after the July 2016 failed coup.
6. Airbus Chief Executive Tom Enders sees no reason to resign over ongoing UK and French corruption investigations, but would be ready to do so if needed. "You can be assured: Once I am no longer part of the solution, and I hope I would realize myself when that is, I will draw the consequences (and step down). But for now, I don’t think we’re at this point," Enders told Handelsblatt.
7. Catalan leader Carles Puigdemont called for calm less than 24 hours ahead of a deadline from Spain’s central government for him to clarify whether he has declared independence for Catalonia or not. Puigdemont made a symbolic declaration of independence on Tuesday night, only to suspend it seconds later and call for negotiations with Madrid on the region’s future.
8. No free fruit in hotel rooms, no free hair cuts and no prawns on the menu – delegates at this week’s Communist Party Congress in China can expect austere treatment in keeping with President Xi Jinping’s pledge to crack down on corruption and extravagance. Part of Xi’s fight against deep-seated graft has been to ensure officials are not seen abusing their positions and wasting public money, after a series of scandals involving high-living bureaucrats ignited public anger.
9. The Democratic Unionist Party has concerns over finance minister Philip Hammond, saying he is causing unnecessary division over Brexit, the Sunday Telegraph reported. Prime Minister Theresa May must warn Hammond he faces the sack unless he changes his approach to the UK’s departure from the European Union, unnamed senior parliamentary sources in the DUP told the newspaper.
10. If the United States terminates the Iran nuclear deal it could result in Iran developing nuclear weapons and raise the danger of war close to Europe, Germany’s foreign minister said. US President Donald Trump refused on Friday to formally certify that Tehran was complying with the 2015 accord even though international inspectors say it is. He warned he might ultimately terminate the agreement.
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- 10 things you need to know before European markets open
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