Good morning! Here’s what you need to know.
Poland is lurching to the right. Two new polls in Poland pointed to the eurosceptic, conservative Law and Justice Party (PiS) winning the October 25 parliamentary election with more than 30% of votes, although neither gave it the outright majority necessary to form a government alone.
Google is soaring. Revenue and profit came in higher than analysts were expecting and the company announced a huge stock buy-back program, sending the stock soaring more than 10% in after-hours trading.
VW is in the clear on its second diesel engine. Germany’s Volkswagen said that tests have found that another type of diesel engine, which replaced the scandal-hit EA 189 engines, was not fitted with software designed to cheat pollution tests.
McDonald’s is recovering. The company said sales edged up at established U.S. locations during the third quarter, snapping a streak of about two years of quarterly declines. The world’s largest burger chain also said sales rose 4% on a global basis.
German manufacturing PMI is coming at 8:30 a.m. UK time (3:30 a.m. ET). The purchasing managers’ index tracks economic confidence in the manufacturing sector, and anything over 50 is seen as positive. Last month the figure came in at 52.3.
China’s housing market is picking up again. Adding to evidence that China’s residential property market is picking up steam, new home prices grew for a fifth consecutive month in September, rising 0.3% from August.
Russia is losing patience with the West in Syria. President Vladimir Putin accused the West of playing a “double game” with terrorist groups in Syria, where a US-led coalition is conducting a bombing campaign,” at a meeting of political scientists known as the Valdai Club.
Japanese manufacturing is storming back. According to the flash Japan manufacturing PMI gauge released by Nikkei-Markit, manufacturing activity in Asia’s second largest economy accelerated sharply in October, rising to 52.5, the highest level seen since March last year.
The Chinese president is leaving the UK. Chinese president Xi Jinping and his wife said goodbye to Queen Elizabeth II after spending two nights as the monarch’s guest at Buckingham Palace. Xi will visit the northwest England city of Manchester on Friday to end his four-day trip.
Italian retail sales figures are coming at 10:00 a.m. UK time (5 a.m. ET). The measure, released by the National Institute of Statistics, gives a read on how healthy retail spending is in the country.
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