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It’s a big day for corporate earnings in Europe and the UK, to say the least.

Asian equities have had an off day on Wednesday, with Sydney’s S&P/ASX 200 down 0.4 per cent, while Tokyo’s Topix index and Hong Kong’s Hang Seng index both down 0.2 per cent in late afternoon trading.

Bonds have had it better, however, with the yield – which moves inversely to price – on 10-year US Treasuries and Japanese government bonds down 1 basis point, while that on the 10-year Australian note is down 5bp following data indicating capital expenditure contraction eased in Q4.

Corporate earnings reports out today include Axa, Telefonica, Orange, Bouygues, Peugeot, Barclays, Glencore, Relx, Centrica, Intu, British American Tobacco, BAE Systems, RSA Insurance, Rentokil, Rathbone Brothers and Vivendi.

The economic calendar for Thursday is slightly less daunting (all times London):

  • 07.00: Germany Q4 GDP
  • 07.45: France business confidence
  • 08.30: UK immigration data
  • 08.55: ECB chief economist Peter Praet to speak in London on Brexit
  • 09.00: Italy retail sales
  • 13.45: Irish premier Enda Kenny and EC chief Jean-Claude Juncker in Brussels

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