Greece negotiations will remain in focus

Negotiations between Greece and the creditor institutions will be closely tracked as the first instalment (c.EUR 300mn) of the EUR 1.5bn debt repayment to the IMF looms on 5 June. 

The lack of tangible agreement between the Greek authorities and the institutions has raised concerns about a default as more major EUR 6.7bn payments due to the ECB in July and August approach. However, several steps and negotiations stand between a default resulting in 'Grexit'. 

"We expect no changes to the ultra-accommodative stance of the European Central Bank at its monetary policy meeting on Wednesday", says Standard Chartered.