EMEA Morning Briefing : Stocks to Gain as Fed -2-

U.K. car manufacturing rose in June for the second consecutive month, but is still 19% down for the first six months as a whole, an industry body said Thursday.

The Society of Motor Manufacturers and Traders said that a total of 72,946 cars drove off the production lines in June compared with 69,097 in June 2021.

U.K. Ad Market Reached GBP8.6 Billion in First Quarter

The U.K.'s advertising market grew faster than previously anticipated in the first quarter and spending for 2022 as a whole is now expected to set a new high of 35.4 billion pounds ($42.64 billion), according to the latest Advertising Association/WARC expenditure report released Thursday.

AA/WARC figures show U.K. ad spend rose 28.3% during the first three months of 2022 to GBP8.6 billion, with growth across all media. The first three months of 2022 outperformed expectations by 7.7 percentage points as media recovered when compared with the first quarter of 2021, which was hit by Covid-19 lockdown measures and the wider impact of the pandemic on activity.

Facebook Parent Meta Platforms Reports First Ever Revenue Drop

Facebook parent Meta Platforms Inc. posted its first decline in revenue and issued a muted outlook on digital advertising as it contends with growing competition from rival TikTok.

The company reported quarterly revenue of $28.8 billion, down almost 1% from a year earlier and slightly below the $28.9 billion Wall Street was expecting. It marks the first time that the company has posted a quarterly drop in revenue from the year earlier.

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Expected Major Events for Thursday

04:30/NED: Jul Producer confidence survey

06:00/DEN: Jun Retail Sales Index

06:00/SWE: Jun Retail sales

06:00/DEN: Jul Business tendency survey

06:00/SWE: 2Q Flash GDP

06:00/NOR: May Labour force survey SA, incl unemployment

06:00/NOR: 2Q Labour force survey

06:45/FRA: Jun PPI

07:00/HUN: Jun Employment & unemployment

07:00/SPN: 2Q Economically Active Population Survey

07:00/SWE: Jul Consumer Tendency Survey

07:00/SWE: Jul Quarterly Business Tendency Survey

07:00/SVK: Jul Business tendency survey

07:00/SVK: Jul Economic sentiment indicator

07:00/SPN: Jun Retail Sales

08:00/ITA: May Industrial turnover & orders

08:00/GER: Jul Bavaria CPI

08:00/GER: Jul Hesse CPI

08:00/GER: Jul Baden-Wuerttemberg CPI

08:00/GER: Jul Brandenburg CPI

08:30/GER: Jul North Rhine Westphalia CPI

09:00/ITA: Jun Foreign Trade non-EU

09:00/CYP: May Industrial Production Index

09:00/EU: Jul Business & Consumer Surveys - Business Climate Indicator & Economic Sentiment Indicator

09:00/GER: Jul Saxony CPI

09:00/GRE: May Labour Force Survey

09:30/BEL: Jul CPI

10:00/IRL: Jun Retail Sales Index

12:00/GER: Jul Provisional CPI

13:00/BEL: 2Q Preliminary GDP

23:01/UK: 2Q BRC-LDC Vacancy Monitor

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This article is a text version of a Wall Street Journal newsletter published earlier today.

(END) Dow Jones Newswires

07-28-22 0034ET