Wednesday preview: US CPI in focus
All eyes in the middle of the week will be on the latest US Consumer Price Index data covering the month of April.
Consensus is for CPI inflation to have held at 5.0% year-on-year, even if at the core level economists were anticipating a one tenth of a percentage point dip to 5.5%.
In the background, some economists appeared to be debating whether inflation could realistically be expected to decelerate back down to the Federal Reserve's target level of 2.0% unless wage growth slowed, which would allow companies' margins to compress.
That in turn might open the door to interest rate reductions before when financial markets were anticipating.
Pantheon Macroeconomics's Ian Shepherdson was among those who believed that other drivers of prices would be sufficiently powerful to drive prices substantially further - even if unit labour costs continued rising rapidly.
"We are becoming increasingly worried that inflation will fall below the target by the middle of next year, even if unit labor costs growth has not fully normalized," Shepherdson said in a research note sent to clients.
The Bureau of Labor Statistics was scheduled to release the CPI report at 1330 BST.
Also due out, at 1900 BST, was the government's monthly budget statement for April.
Across the Channel, at 0700 BST Germany's Ministry of Finance would publish a final reading for the country's CPI, also for the month of April (consensus: 7.2%).
Wednesday 10 May
FINALS
Anexo Group, Directa Plus, Ondine Biomedical Inc. NPV (CDI), Airtel Africa, Vertu Motors
INTERIMS
Hambro Perks Acquisition Company Limited CLS A ORD NPV, Compass Group, ASOS
Q1
Georgia Capital
TRADING ANNOUNCEMENTS
HydrogenOne Capital Growth
AGMs
Harbour Energy, Centaur Media, Cenkos Securities, Abrdn Asian Income Fund Limited NPV, Seplat Energy (DI), Marshalls, AIREA, Abrdn, National Express Group, Rentokil Initial, Ecora Resources, Fidelity European Trust, Tclarke, Luceco, Literacy Capital, Spirax-Sarco Engineering, The Renewables Infrastructure Group Limited, Dunedin Enterprise Investment Trust, Jupiter Fund Management
FINAL DIVIDEND PAYMENT DATE
DFI Retail Group Holdings Limited (Bermuda Regd), DFI Retail Group Holdings Limited (Sing.Reg), DFI Retail Group Holdings Limited (Jersey Reg), Phoenix Group Holdings, Hongkong Land Holding Ltd. (Bermuda), Hongkong Land Holding Ltd. (Jersey), Hongkong Land Holding Ltd. (Sing.Reg), Jardine Matheson Holdings Ltd. (Bermuda), Jardine Matheson Holdings Ltd. (Jersey), Spirent Communications, Jardine Matheson Holdings Ltd (Singapore Reg)
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Price Index (GER) (07:00)
MBA Mortgage Applications (US) (12:00)
Consumer Price Index (US) (13:30)
Crude Oil Inventories (US) (15:30)
Budget Statement (US) (19:00)