LONDON (ShareCast) - (ShareCast News) - The corporate results season has past its peak and tails off as summer holidays empty out the City, but the week ahead is due to see some big financial news nonetheless, including Eurozone second quarter GDP, a UK labour market update, with US retail sales and industrial production data.
Eurozone second quarter GDP figures are due, with many economists expecting economic recovery to slow as the giddily steep Greek downturn is joined by deceleration in Germany and France.



Danske Bank took a more optimistic view and suggested: "In the euro area the GDP growth figure for Q2 should confirm that the recovery continued, but relying on stronger German activity, not weaker French activity.

"Euro-area survey indicators should give a first sign of improvement now that uncertainty has faded on the back of the Greek deal."

ZEW's German sentiment survey for August will also be widely watched.

In the UK, the main mover is most likely to be the labour market statistical update scheduled on Wednesday by the Office for National Statistics, coming after Tuesday's retail sales data and ahead of Friday's construction industry output. Last month's labour market data was mixed, with wages improving but unemployment up in the three months to May.

"[A continuation of this trend] could lead to hesitation in starting the monetary policy normalisation process," Markit's Kolodseike added.

Across the Atlantic, the focus in the US will be on consumer spending, with the market looking for private consumption to improve and be the main driver of national growth.



"US PPI and import prices will provide insight about underlying price pressure on goods after the oil price decline in July," Danske Bank said.

US retail sales are forecast to rebound and industrial production is expected to gain for just the second time this year.

Corporate results

Although quieter than it has been, second-quarter reporting season will still provide some thin news flow.

During the next week, 40 constituents of the STOXX 600 and 16 S&P 500 companies in the US are due to publish results, though less than 10 of these blue chips are listed in London.

After a quiet Monday, Tuesday's releases include Ladbroke's, which has already pre-released its interim results and so analysts expect some further colour on outlook and performance during the second quarter.

Prudential is reporting its half-year interims after CEO Tidjane Thiam was poached by Credit Suisse, with a consensus forecast of £1.73bn operating profit.

On Wednesday Balfour Beatty reports, having already warned in July that losses in the UK, Middle East and US construction business would result in a £130-150m pre-tax profit shortfall.

Travel group Tui will provide an update on Thursday, notable for being the first time third quarter will be reported as a combined entity and more so as the first under the new reporting structure that was introduced at the time of the first-half results.

"We are particularly interested to hear management's comments on the potential profit impact from the tragic events in Tunisa at the end of June and the impact of the economic situation in Greece," said UBS. Other than these two events, underlying trading is expected to be strong, with tourism revenues of €4.27bn and total revenues of €4.97bn, up roughly 4% year on year, and underlying EBITA forecast to rise 6% to €173m.

Another FTSE 100 giant UBS is keeping a watch on is Glencore, where a second-quarter production report is due on Wednesday. Copper production should be marginally up by 2% quarter on quarter at 357kt, 8% for zinc, nickel volume up 2%, coal down 7% and oil production up 1%, UBS said.



Monday 10 August

INTERIMS
esure Group, Gresham Computing

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Harmonised Competitiveness Indicators (EU) (09:00)

Q2
Telecom Egypt SAE GDS (Regs)

GMS
Amino Technologies

AGMS
Prospect Japan Fund Ltd.

Tuesday 11 August

INTERIMS
Card Factory, Johnston Press, Ladbrokes, Partnership Assurance Group, Prudential, Serco Group, SIG, Synthomer

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Productivity (US) (13:30)
Wholesales Inventories (US) (15:00)
ZEW Survey (EU) (10:00)
ZEW Survey (GER) (10:00)

UK ECONOMIC ANNOUNCEMENTS
BRC Sales Monitor (00:01)

FINALS
Hargreaves Services

EGMS
PME African Infrastructure Opportunities, Telecom Egypt SAE GDS (Regs)

AGMS
OptiBiotix Health, Real Estate Credit Investments PCC Ltd, Telecom Plus, Triad Group

Wednesday 12 August

INTERIMS
Balfour Beatty, Capital & Regional, G4S, Interserve, Lookers, New Europe Property Investments, OJSC Magnitogorsk Iron & Steel Works GDR (Reg S), Sampo OYJ, TBC Bank Joint Stock Company GDR (REGS)

TRADING ANNOUNCEMENTS
Volution Group (WI)

Q2
OJSC Magnitogorsk Iron & Steel Works GDR (Reg S), TBC Bank Joint Stock Company GDR (REGS)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Crude Oil Inventories (US) (15:30)
Industrial Production (EU) (10:00)
MBA Mortgage Applications (US) (12:00)
Treasury Budget Statement (US) (15:00)

UK ECONOMIC ANNOUNCEMENTS
Claimant Count Rate (09:30)
Unemployment Rate (09:30)

GMS
LMS Capital, Oilex Ltd.

EGMS
HICL Infrastructure Company Ltd, PJSC Novorossiysk Commercial Sea Port GDR (Reg S)

AGMS
Alpha Real Trust Ltd., Tata Steel Ltd GDR (Reg S), Yujin International Ltd. (DI)

FINAL DIVIDEND PAYMENT DATE
Babcock International Group, Charles Stanley Group, Invesco Asia Trust, Montanaro UK Smaller Companies Inv Trust, Speedy Hire, Vedanta Resources

Thursday 13 August

INTERIMS
Bankers Petroleum Ltd.(CDI), Cineworld Group, Coca-Cola HBC AG (CDI), Derwent London, Ithaca Energy Inc. (DI), Michael Page International, Ophir Energy, Quarto Group Inc., X5 Retail Group NV GDR (Reg S)



INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Business Inventories (US) (15:00)
Consumer Price Index (GER) (07:00)
Continuing Claims (US) (13:30)
Import and Export Price Indexes (US) (13:30)
Initial Jobless Claims (US) (13:30)
Manufacturing Inventories (US) (15:00)
Retail Sales (US) (13:30)
Retail Sales Inventories (US) (15:00)

UK ECONOMIC ANNOUNCEMENTS
RICS Housing Market Survey (09:30)

TRADING ANNOUNCEMENTS
Bankers Petroleum Ltd, Caledonia Mining Corporation, Grainger, Infinis Energy, Ithaca Energy Inc, Tui AG (UK), Zoopla Property Group (WI)

AGMS
DJI Holdings, John Laing Environmental Assets Group Limited

FINAL DIVIDEND PAYMENT DATE
IS Solutions

FINAL EX-DIVIDEND DATE
Ashtead Group, BT Group, Diageo, Greene King, Hayward Tyler Group, Iomart Group, Latchways, Maven Income And Growth VCT 6 , New Century AIM VCT, Pets at Home Group , PZ Cussons, Severfield

INTERIM EX-DIVIDEND DATE
4Imprint Group, Aberdeen UK Tracker Trust, BG Group, Direct Line Insurance Group, Ferrexpo, Fevertree Drinks, Fresnillo, GKN, IMI, Informa, Keller Group, Kennedy Wilson Europe Real Estate , Law Debenture Corp., Legal & General Group, Lloyds Banking Group, LSL Property Services, Man Group, Merlin Entertainments , Millennium & Copthorne Hotels, Moneysupermarket.com Group, Pearson, Reckitt Benckiser Group, Rentokil Initial, Rio Tinto, RM, Schroders, Schroders (Non-Voting), Spirent Communications, Standard Chartered, Vesuvius

QUARTERLY EX-DIVIDEND DATE
Blackrock North American Income Trust , Ediston Property Investment Company, GlaxoSmithKline, MedicX Fund Ltd., Picton Property Income Ltd, Royal Dutch Shell 'A', Royal Dutch Shell 'B'

Friday 14 August

INTERIMS
Afarak Group (DI), Biofrontera AG (DI), Fondul Proprietatea S.A. GDR (Reg S), Societatea Nationala De Gaze Naturale Romgaz S.A. GDR (Reg S)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Capacity Utilisation (US) (14:15)
Consumer Price Index (EU) (10:00)
GDP (Flash Estimate) (EU) (10:00)
Harmonised Index of Consumer Prices (EU) (10:00)
Industrial Production (US) (14:15)
Producer Price Index (US) (13:30)
Wholesale Price Index (GER) (07:00)

GMS
Source BioScience, Unicorn AIM VCT

EGMS
Datang International Power Generation Co Ltd.

AGMS
Daily Internet, Heath (Samuel) & Sons, iEnergizer Ltd., Oryx International Growth Fund Ltd.

FINAL DIVIDEND PAYMENT DATE
Amati VCT , F&C Global Smaller Companies, Investec, SABMiller

INTERIM DIVIDEND PAYMENT DATE
Crystal Amber Fund Ltd., Frenkel Topping Group, Safestore Holdings, Sanderson Group, Sequoia Economic Infrastructure Income Fund Limited

QUARTERLY PAYMENT DATE
Marsh & Mclennan Cos Inc., Merchants Trust

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