European markets are set for a muted open as investors await a crucial Spanish election over the weekend and look ahead to a big week of corporate earnings.
UK retail sales exceed expectations to rise 0.7% in June
U.K. retail sales rose by 0.7% month on month in June after a boost from unusually warm weather, the Office for National Statistics revealed on Friday."Whatever is encouraging this spending, the numbers suggest consumers remain willing to spend money when the opportunity presents itself. For the U.K.
"But today's numbers will likely have been read with some concern inside the Bank of England, as they suggest more work needs to be done in its efforts to dull demand in order to tame inflation, despite the softer CPI figures seen this week."
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