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Tuesday preview: US services PMI, Sainsbury in focus

By Alexander Bueso

Date: Monday 05 Jul 2021

Tuesday preview: US services PMI, Sainsbury in focus

(Sharecast News) - The spotlight on Tuesday will fall on the US services sector as the Institute for Supply Management publishes the results of its closely-followed Purchasing Managers survey covering the month of June.


Across the Channel, the spotlight will be on the ZEW institute's economic sentiment index for Germany in July.

A speech by European Central Bank vice-president, Luis de Guindos, at 0910 BST, may also provide fresh insights.

On home shores meanwhile, IHS Markit will publish its Purchasing Managers Index for the UK's construction sector referencing the month of June.

Further afield, rate-setters in Sydney will meet to decide on policy.

On the corporate side of things, Sainsbury will post its first quarter trading update amid the ongoing bidding war for rival Morrisons which analysts say has stoked speculation that a bid for Sainsbury might also surface at some point.

Among those is CMC Markets UK chief market analyst Michael Hewson, who noted how Czech billionaire Daniel Kretinsky had been building up his stake in Sainsbury over recent months.

From an operating standpoint, investors will be keen to see if management's optimism for the full-year when it last updated markets back in April has been borne out.

At the time, company management said it expected Sainsbury's full-year profits to exceed their pre-pandemic level with consensus anticipating the grocer would be in the black to the tune of £620m.

Tuesday 06 July

INTERIMS

RM

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Factory Orders (GER) (07:00)

PMI Composite (EU) (09:00)

PMI Composite (US) (14:45)

PMI Services (EU) (09:00)

PMI Services (US) (14:45)

Retail Sales (EU) (10:00)

ZEW Survey (EU) - Economic Sentiment (10:00)

ZEW Survey (GER) - Current Situation (10:00)

ZEW Survey (GER) - Economic Sentiment (10:00)

FINALS

Kinovo , Mercia Asset Management, Purplebricks Group, Totally

AGMS

Assura , Billington Holdings, Brown (N.) Group, Brown (N.) Group, Calculus VCT , JZ Capital Partners Ltd, Marks & Spencer Group, Predator Oil & Gas Holdings NPV

TRADING ANNOUNCEMENTS

Sainsbury (J)

UK ECONOMIC ANNOUNCEMENTS

PMI Construction (09:30)

FINAL DIVIDEND PAYMENT DATE

Billington Holdings



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