Highlights from IHS Markit's releases....>

DATA REACT: Highlights from IHS Markit's releases of Spain and Italy June PMI:

- Spain (49.0 vs 45.1 exp, 40.5 prior): "Both production and new orders

continued to fall in June, albeit at much slower rates. Whilst there were

reports that the easing of lockdown measures had continued to support the

reopening of facilities and wider economic activity, many panellists reported

that COVID-19 had continued to weigh on demand from both domestic and

international sources... There were several indications that plants were not

operating at full capacity and choosing to limit working hours given the still

weak trend in demand. This had a knock-on effect for

employment"

- Italy (47.5 vs 47.8 exp, 45.4 prior): "Panellists reported that despite looser

COVID-19 restrictions, firms were struggling to revive client demand....Cost

burdens facing Italian manufacturers fell for the fifth month in a row during

June. The rate of deflation was solid, but softer than in the previous survey

period. Firms continued to discount their own goods to drive sales, with average

selling prices declining again in June."