1355: An increase in short-term interest rates is likely at some point this year, the chair of the Federal Reserve bank Janet Yellen was set to tell congressmen on Wednesday afternoon, according to prepared remarks released before her testimony.
1330: US factory gate prices increased by 0.4% month-on-month in June. The consensus forecast had been for an increase of 0.2% over the month and 0.9% year-on-year. Core prices also rose more quickly than expected at the 'core' level.
1330: Manufacturing activity Stateside picked up slightly in July, a leading indicator for activity in the sector showed. The Federal Reserve bank of New York's manufacturing sector gauge rose to a reading of 3.9 for July after a print of -2 in the month before. Analysts had been anticipating a reading of 3.3.
1234: Bank of America's net profits surged by 132% in the second quarter to reach $5.3bn or the equivalent of 45 cents per share.
11:30 National Iran Oil Company has said it has ordered increased production from its oilfields and can reach 4m barrels a day of output "if there is demand", according to a report citing Reuters.
1035: Germany has sold 4.1bn in 2025 debt at a yield of 0.88%, down from 0.81% the last time around. The bid-to-cover ratio however came down to 1.1 versus the 1.75 seen at the last sale.
1035: DMO has auctioned £1.5bn in inflation-linked debt maturing in 2026 with a bid-to-cover ratio of 1.61 and at a real yield of -0.609%.
0930: The unemployment rate rose to 5.6% in the three months to May (consensus: 5.5%), even as wage growth accelerated albeit to a less than expected pace of 3.2% (consensus: 3.3%).
0830: The top flight index has started the morning lower despite overnight gains on Wall Street and better than expected data out in China overnight. On a negative note, the Shanghai Stock Exchange Composite Index finished the session lower by 3.03% at 3,805.703. That comes ahead of this morning's employment report due out at 09:30. Weighing on the Footsie earlier on, the BBC reports that Barclays deputy chairman Mike Rake is set to leave to become the chairman of payment-services outfit Worldpay.Burberry shares
are also lower after the retailer reported a single-digit decline in sales in the Asia-Pacific region. FTSE 100 down 23.82 points to 6,730.36.