EU CONSUMER STAPLES: Barry Callebaut; 3Q (to May) results (x4)

• EUR/USD: Jun12 $1.1350(E1.9bln), $1.1395-00(E1.3bln), $1.1425-35(E1.4bln), $1.1440-50(E2.6bln), $1.1500(E2.2bln); Jun13 $1.1400-05(E1.7bln), $1.1485-00(E1.9bln); Jun16 $1.1400(E1.2bln)
• USD/JPY: Jun12 Y143.00($1.3bln), Y143.85-00($1.0bln); Jun13 Y144.00($1.2bln); Jun16 Y145.00($4.4bln)
• AUD/USD: Jun12 $0.6475-85(A$1.1bln)

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MNI's Political Risk team has published an article looking at the political implications of tomorrow's Spending Review, particularly in the context of the Labour government's challenge from the right-wing populist Reform UK in opinion polls. 

• Stocks are holding mildly mixed levels by midmorning Tuesday, off recent highs as US/China trade talks concluded in London without signs of progress. Indexes posted relatively modest volumes as investors also await Wednesday's CPI inflation data.
• A recent dip in prices could also be associated with headlines that Pres Trump told Fox News that "Iran is becoming "much more aggressive" in nuclear talks. Currently, the DJIA trades up 6.19 points (0.01%) at 42768.02, S&P E-Minis up 7.25 points (0.12%) at 6017.75, Nasdaq down 0.3 points (0%) at 19591.74.
• Energy and Communication Services led gainers in the first half, the former buoyed by Enphase Energy +6.38%, APA Corp +5.74%, Halliburton  +4.67%, LyondellBasell Industries +4.19% and Schlumberger +4.13%. Interactive media shares supported the Communication Services sector: Charter Communications +2.79%, Interpublic Group +2.51%, Alphabet +2.01%, Warner Bros Discovery +1.78% and Walt Disney Co +1.74%.
• Industrials and Utilities underperformed in the first half, the former weighed by GE Vernova -3.23%, Axon Enterprise -3.17%, General Electric -3.09% and Quanta Services -3.01%. Laggers in the Utility sector include: Vistra -4.52%, NRG Energy -2.97%, Constellation Energy -2.89%, Entergy -1.14% and CenterPoint Energy -0.85%.