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PMIs probably dominate EA state heads summit

In terms of data (full details below), euro area flash composite PMIs to edge down in June are looked to 53.4 (consensus: 53.5), due to lower services confidence (consensus: 53.6), while manufacturing PMI should inch up to 52.4 (consensus: 52.2). 

Wednesday's German IFO business climate index is likely to moderate slightly in June to 108.0 from 108.5, but remain well above recent lows of 103.6 in October last year, says Barclays.

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