Week ahead: Services and trade data in focus
By Oliver Haill
Date: Friday 01 Jun 2018
(Sharecast News) - Surveys on the services sector will be mulled over next week, with Chinese trade numbers important for commodities sentiment but pretty quiet on the companies front.
Italy will remain a concern for investors, despite the encouraging news that a government has been formed.
"The Italian government has a busy program and it is not exactly in line with what Brussels likes, especially in term of immigration and budget policy," said analysts at Swissquote. "Therefore, we expect that the market will not switch fully into risk-on mode, especially against the backdrop rising trade tensions between the US and EU."
Following UK construction and retail sales data on Monday, Tuesday is the day for services purchasing managers' index reports, with the UK joined by China, a host of eurozone economies and the USA.
The upcoming G7 meeting is could see a lot of plain speaking take place in the wake of President Trump's decision to implement tariffs on steel and aluminium, said Michael Hewson at CMC Markets. "Is Trump's assertiveness part of a wider strategy to show he is even handed with both friend and foe, before walking things back next week, or are we really looking at a full blown trade war? While there has been plenty of talk about retaliation politicians will need to tread carefully to avoid an escalation, if Trump doubles down and targets the German car industry as part of his section 232 investigation into car imports into the US."
Hewson also highlights the Reserve Bank of Australia's rate decision, amid a recovery in Chinese economic data. Some recent signs of economic weakness in Oz with softening house prices as well as stagnant wages growth would suggest that the RBA is likely to remain unmoved for now.
China's trade data on Friday comes on the back of a slowdown in exports in March and signs of a pick-up in April as both imports and export growth jumped. These trade developments are likely to dominate commodity investor sentiment, said Capital Economics. "The US negotiations with China are set to continue over the weekend but the EU, Canada and Mexico have already declared that they will retaliate."
Friday's data comes after US trade data on Wednesday, which CapEcon said is likely to be scrutinised more than usual. "The solid May PMI data for China suggest that the country's commodity import demand is likely to have held up last month."
Monday June 04
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Factory Orders (US) (15:00)
Producer Price Index (EU) (10:00)
UK ECONOMIC ANNOUNCEMENTS
PMI Construction (09:30)
FINALS
Abzena, Rhythmone
TRADING ANNOUNCEMENTS
Tungsten Corporation
GMS
PJSC Gazprom Level 1 ADS
EGMS World Careers Network
AGMS
Billington Holdings, CityFibre Infrastructure Holdings , InterQuest Group, IQE, The Gym Group, Vietnam Enterprise Investments (DI), Volex
FINAL DIVIDEND PAYMENT DATE
Epwin Group, Fresnillo, Mitsubhi Electric Corp., Weir Group
FINAL EX-DIVIDEND DATE
Air China Ltd.
Tuesday June 05
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
ISM Non-Manufacturing (US) (15:00)
PMI Composite (EU) (09:00)
PMI Composite (GER) (08:55)
PMI Composite (US) (14:45)
PMI Services (EU) (09:00)
PMI Services (GER) (08:00)
PMI Services (US) (14:45)
Retail Sales (EU) (10:00)
UK ECONOMIC ANNOUNCEMENTS
PMI Services (09:30)
FINALS
Altitude Group, AO World, Carclo, Discoverie Group, Fulcrum Utility Services Ltd. (DI), GB Group, KCOM Group, Picton Property Income Ltd, Quiz, Vianet Group, VP, WYG
INTERIMS
Driver Group, Gooch & Housego
Q1
Summit Therapeutics
AGMS
Africa Opportunity Fund Limited, Amryt Pharma, BlackRock Smaller Companies Trust, Borders & Southern Petroleum, Corero Network Security, Fairfx Group , Filta Group Holdings, Fox Marble Holdings, Gama Aviation , Gem Diamonds Ltd. (DI), Johnston Press, Nostrum Oil & Gas , Spinnaker Opportunities
QUARTERLY PAYMENT DATE Chenavari Toro Income Fund Limited NPV QUARTERLY EX-DIVIDEND DATE Schlumberger Ltd.
Wednesday June 06
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Factory Orders (GER) (07:00)
Gross Domestic Product (EU) (10:00)
UK ECONOMIC ANNOUNCEMENTS
Halifax House Price Index (08:30)
FINALS
Alpha Financial Markets Consulting, Findel, RPC Group, Tricorn Group, Workspace Group
TRADING ANNOUNCEMENTS
WH Smith
GMS
BATM Advanced Communications Ltd., Carpetright
AGMS
Advanced Medical Solutions Group, Albion Technology & General VCT, Applegreen, Aurora Investment Trust, Bisichi Mining, F&C Commercial Property Trust Ltd., Flowtech Fluidpower, GCP Asset Backed Income Fund Limited, GVC Holdings, Hurricane Energy, M&C Saatchi, Plant Health Care, Sagicor Financial Corporation Limited (DI), Seplat Petroleum Development Company (DI), Share plc
FINAL DIVIDEND PAYMENT DATE
BBGI SICAV S.A. (DI), BlackRock Latin American Inv Trust, Intertek Group, Konami Holdings Corporation
INTERIM DIVIDEND PAYMENT DATE
James Halstead
INTERIM EX-DIVIDEND DATE
Barloworld Ltd.
QUARTERLY PAYMENT DATE
Unilever
Thursday June 07
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Credit (US) (20:00)
Continuing Claims (US) (13:30)
Industrial Production (GER) (07:00)
Initial Jobless Claims (US) (13:30)
FINALS
Auto Trader Group, CMC Markets, Mitie Group, Ramsdens Holdings
INTERIMS
Impax Asset Management Group, RWS Holdings
TRADING ANNOUNCEMENTS
Joules Group
SPECIAL DIVIDEND PAYMENT DATE
Fidessa Group
SPECIAL EX-DIVIDEND DATE
Helios Underwriting, Marshalls, Perpetual Income & Growth Inv Trust
GMS
Thor Mining
AGMS
BCRE - Brack Capital Real Estate Investments N.V. (DI), Camellia, Cluff Natural Resources, Cluff Natural Resources, Dignity, Downing Three VCT F Shs, Downing Two VCT F Shs , Invesco Perpetual UK Smaller Companies Inv Trust, Jackpotjoy, Mears Group, Nasstar, Pagegroup, RHI Magnesita N.V. (DI), Safestay, Soco International, Sopheon , Summit Therapeutics , TP Group, Volga Gas
FINAL DIVIDEND PAYMENT DATE
Eddie Stobart Logistics , Fidessa Group, Filta Group Holdings, Legal & General Group, Macfarlane Group, William Hill
FINAL EX-DIVIDEND DATE
Anglo-Eastern Plantations, Animalcare Group, Arena Events Group , Billington Holdings, Christie Group, Cineworld Group, Flowtech Fluidpower, Helios Underwriting, Inspired Energy, Johnson Matthey, Judges Scientific, Learning Technologies Group, London Security, LXI Reit , M&C Saatchi, Marshalls, Nasstar, Phoenix Spree Deutschland Limited Shs NPV, Restaurant Group, Restore, Rotala, RTC Group, Sainsbury (J), SIG, Sopheon, Spectra Systems Corporation, Synthomer, Telford Homes, Vodafone Group, Warehouse Reit, Young & Co's Brewery 'A' Shares
INTERIM EX-DIVIDEND DATE
Aberdeen Frontier Markets Investment Company, Aeci 5 1/2% Prf, Artemis VCT, Associated British Foods, Aviva 8 3/4% Cumulative Irrd Preference 1, Connect Group, Daily Mail and General Trust A (Non.V), Debenhams, Evraz, General Accident 'A', Inland Homes, ITE Group, Majedie Investments, Northern Venture Trust, Tharisa (DI), Topps Tiles, Urban&Civic , Victrex plc, Watkin Jones
QUARTERLY EX-DIVIDEND DATE
Raven Russia Ltd 6.5% Red Cnv Pref Shs NPV, RM Secured Direct Lending, UIL Limited (DI), Volta Finance Limited
Friday June 08
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Trade (GER) (07:00)
Current Account (GER) (07:00)
Wholesales Inventories (US) (15:00)
FINALS
First Property Group, Volex
TRADING ANNOUNCEMENTS
Fuller Smith & Turner
SPECIAL DIVIDEND PAYMENT DATE
Derwent London
SPECIAL EX-DIVIDEND DATE
Randall & Quilter Investment Holdings (DI)
AGMS
AA, Honeycomb Investment Trust, Novolipetsk Steel GDS (Reg S), P2P Global Investments, Proton Power Systems, Public Joint Stock Company Severstal GDR (Reg S), Standard Life Investments Property Income Trust Ltd., Telefonica SA, Time Out Group
FINAL DIVIDEND PAYMENT DATE
Barr (A.G.), Card Factory, Derwent London, Ibstock , Integrated Diagnostics Holdings, Irish Continental Group Units, Ocean Wilsons Holdings Ltd., Reach, SDL, SThree FINAL EX-DIVIDEND DATE Scottish Mortgage Inv Trust
INTERIM DIVIDEND PAYMENT DATE
Civitas Social Housing C Shs, McCarthy & Stone, Seplat Petroleum Development Company (DI)
QUARTERLY PAYMENT DATE
Civitas Social Housing
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