Friday preview: Brexit, US capital flows in focus
By Alexander Bueso
Date: Thursday 15 Nov 2018
(Sharecast News) - The focus at the weekend will continue to be on the withdrawal process, with investors focusing on the risk of further Cabinet resignations even as they keep a tally of how many MPs support, or do not, a no-confidence vote against the Prime Minister.
Against that backdrop, the main data release of the session will be in the States, in the form of the latest US industrial production figures, at 1330 GMT, referencing the month of October.
The US Treasury's September report on long-term capital flows may also may for an interesting reading.
Markets are also waiting on the final reading on euro area consumer prices for that same month.
Earlier in the session, at 0830 GMT, European Central Bank president, Mario Draghi, is scheduled to deliver a speech at the European Banking Congress, in Frankfurt.
The UK corporate calendar for Friday is nearly bare, leaving Kier Group to hog the spotlight.
Numis analyst Howard Seymour expects the construction and support services group to use its annual general meeting to signal its continued "strong" position, what with the company's order book standing at a record £5.0bn as of September and on the back of the announcement in the Budget of measures geared towards Roads and the wider UK built economy.
The order pipeline in both Services and Property was strong, Seymour said.
However, in the aftermath of Carillion's demise, the focal point for investors was on the company's leverage.
"We believe the 'Future Proofing Kier' programme of progressive debt reduction will allay shareholder fears and lead to re-rating of the stock, though accept it is too early for any tangible effects of this to be in place.
"Overall we expect an in-line and confident statement and believe Kier is the cheapest stock in the sector, which will be manifest in outperformance as management actions take effect."
Friday November 16
INTERIM DIVIDEND PAYMENT DATE
Coats Group, Kerry Group 'A' Shares, Menzies(John), S&U, Warpaint London
Q3
Afarak Group (DI)
SPECIAL DIVIDEND PAYMENT DATE
Hays, Ranger Direct Lending Fund
AGMS
Eagle Eye Solutions Group, Kier Group
TRADING ANNOUNCEMENTS
Regional REIT Limited
FINAL DIVIDEND PAYMENT DATE
Dechra Pharmaceuticals, Grit Real Estate Income Group Limited NPV (DI), Hays, Smiths Group, Wilmington
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