Upcoming week of European earnings to shed light on spending power

Updates from companies including LVMH and Nestle follow a disappointing week for tech amid an ongoing slowdown in the sector

First-half results from the French firm behind Moët champagne and Louis Vuitton should show gains from China’s reopening and a recovery in travel retail, factors that may help to offset a slowdown in the US. Picture: Dan Kitwood/Getty

Several European companies ranging from drug makers to luxury retailers are expected to post quarterly earnings this week, revealing much about pricing and spending power as inflation cools and interest rates move closer to a peak.

Kicking off the week, Julius Baer’s first-half report before the Swiss open should reveal a surge in inflows as the wealth manager gained from Credit Suisse Group’s demise. Net new money is expected to come in at 6.5bn Swiss francs (€6.7bn) for the first six months compared with outflows of 1.1bn francs the year before, consensus shows.