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10 things you need to know before European markets open
Here's what you need to know.
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3. Deutsche Bank is not in advanced talks over frozen bonus payments, former board member Hugo Baenziger told Frankfurter Allgemeine Sonntagszeitung. Baenziger's remarks run counter to comments made by the bank's current chairman Paul Achleitner who said the lender was in talks to persuade former board members to make a financial contribution toward the costs of paying for the bank's involvement in past misconduct.
4. Outgoing Prime Minister Joseph Muscat has retained power in Malta after a general election overshadowed by corruption allegations against his Labour Party administration, a sample count of ballots showed. The preliminary results showed a clear enough trend for Muscat, 43, to declare victory. "It is clear that the people have chosen to stay the course," he said as Labour supporters took to the streets in celebration.
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5. Britain's main political parties suspended campaigning for this week's election after an attack in London left seven people dead – although the UK Independence Party (UKIP) said it would carry on. The truce is the second in the race for the June 8 vote, after campaigning was halted for several days following the Manchester concert attack on May 22.
6. Brazil's leader, Michel Temer, this week faces a court ruling on whether he should be president. The case in the Supreme Electoral Tribunal alleges that the reelection victory in 2014 of president Dilma Rousseff and her then vice president Temer was fatally tainted by illegal campaign funds and other irregularities and therefore should be annulled.
7. Embattled Audi Chief Executive Rupert Stadler only got a five-year contract extension because of an agreement among supervisory board members that he would not serve out his full term, Reuters reported. How long Stadler will remain in his current position remains unclear. Stadler's contract was extended on May 17 this year until end-2022.
8. The Trump administration is considering possible sanctions on Venezuela’s vital energy sector, including state oil company PDVSA.The idea of striking at the core of Venezuela’s economy, which relies on oil for some 95% of export revenues, has been discussed at high levels of the administration as part of a wide-ranging review of US options.
9. At least 1,000 people were injured, seven seriously, after a bomb scare triggered a stampede among Juventus fans assembled to watch the Champions League final in Turin, police said. Chaotic scenes ensued in a packed square 10 minutes before the end of the match on Saturday evening, with the panic apparently triggered by fireworks being let off and one or more people shouting that a bomb had exploded.
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10. Lawyers working on Saudi Aramco's flotation advised the kingdom that a New York listing poses the greatest litigation risk of any jurisdiction, the Financial Times reported.White & Case and others offering informal counsel have briefed top oil executives and the kingdom’s highest authorities, emphasizing a litigious culture in the United States.
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