Market movers today
The new Italian government is set for a confidence vote in parliament today. Prime Minister Giuseppe Conte will be speaking at 11:00 CEST before the Senate and at 12:30 CEST before the Lower House. The vote is due to take place at 18.30 CEST and the government is expected to win by only a small majority in the Senate.
UK PMI service index for May likely rose to 53.5 from 52.8. We will also get final PMIs in the euro area.
In Sweden , April production data in various forms is due to be released: private sector, industry (and new orders) and services. Looking at survey data for guidance, these are mixed but on average suggest unchanged or lower growth. This would not be a surprise given declining European PMIs. The Swedish markets close at noon today.
In Norway , housing market data is on the agenda. The risk of a major setback for the housing market in Norway has gradually receded in the opening months of 2018. We estimate that prices rose a further 0.4% m/m in May.
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