SQUAWK BOX, WEDNESDAY 26TH JULY, 2023

We have a slew of European earnings with Deutsche Bank and Unicredit dominating as investors anticipate another bumper quarter from the banking sector. Spanish giant Santander confirms its full-year outlook after a 15 per cent jump in H1 net interest income. In the U.S., tech earnings were front and centre. Google parent company Alphabet shares were up in after-hours trading as the company’s cloud unit drove profits. Microsoft, however, falls into the red. In luxury news, LVMH paints a mixed picture with Asian sales on the up but U.S. sales declining as Americans choose to travel in Europe. And NatWest CEO Dame Alison Rose has been ousted as CEO after she admitted “a serious error of judgement” in leaking confidential news to the BBC about the closure of Brexiteer Nigel Farage’s account with wealth manager Coutts.