The UK Conservative leadership election will (finally) conclude on Monday. Unless the poll data was wildly inaccurate, Liz Truss will claim the prize and name a new cabinet. The FT will provide full analysis of these events. Sweden’s Magdalena Andersson is hoping to be re-appointed prime minister as her country goes to the polls on Sunday. Like the outgoing and incoming British prime ministers, Anderson came to power in chaotic circumstances after her party had already ruled the country for several years. Unlike the British prime minister, Anderson is more popular than her party and her rivals. This election, however, is much closer to the announcements than the UK Conservative party election. US President Joe Biden will be in the crosshairs with November’s midterm elections very much on his mind. The week will close with reflection on the US as it marks the 21st anniversary of the 9/11 attacks. Another Conservative party leadership election will also conclude this Saturday, in Canada. The contest – which began in February with the resignation of Conservative party leader Erin O’Toole – makes the British Tory leadership contest seem a bit rushed. But Canada’s Conservatives can afford to bide their time because whoever wins won’t be running the country right away.
Financial data
The week will start with an OPEC+ meeting. Saudi Arabia warned last month that it could push to cut oil production if prices continue to fall. The European Central Bank’s monetary policy committee meets on Thursday. A fall in eurozone unemployment last week fueled speculation that the central bank will step up its tightening cycle to curb eurozone inflation by up 0.75 percentage points. There’s also inflation and trade data from China, industrial production data from Germany, jobs data from Canada and comparisons of the international services sector with the latest round of PMI data. The festive season is officially over. It’s Labor Day Monday which means US markets will be closed.
Companies
Apple unveils its new iPhone series. Among those expected to deliver some positive news is Ashtead, the equipment hire group. Supply chain constraints and economic uncertainty have pushed companies to rent equipment from Ashtead rather than buy it, chief executive Brendan Horgan said in June. This will be further boosted by a number of infrastructure projects set to take shape, according to Steve Woolf at investment bank Numis. “The medium-term outlook is supported by infrastructure spending, with a significant amount of large-scale projects expected to start in the next 12 to 18 months,” he wrote. Read the full calendar for the week here.
