Germany flies into 'perfect storm' as economy heads towards recession

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China’s yuan, which has plunged in the past two weeks on worries about the trade stand-off — sparking accusations Beijing is a currency manipulator — also bounced.

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Analysts are expecting low-single-digit growth in Prudential’s results for the first half of the year. That’s not the main event — front and centre on Wednesday will be extra details on its plans to demerge its asset management operation (M&G Prudential) and its plans for Brexit.

Also reporting is builder Balfour Beatty, which has undergone a major restructuring in the wake of outsourcing giant Carillion’s sudden collapse. In March, the company announced it has increased profit despite a fall in revenue, and has said that it is aiming at “higher quality” work. Its shares have been feeling the pressure however.

Interim results: Admiral, Apax Global Alpha, Avast, Awilco Drilling, Balfour Beatty, CLS Holdings, Hochschild Mining, Lookers, Prudential, Riverstone Energy, Zeal Network

Economics: Inflation figures (UK), Sentiment, industrial production, employment and GDP (all Eurozone)