Tuesday preview: UK employment, JPJ Group
By Alexander Bueso
Date: Monday 12 Aug 2019
(Sharecast News) - Markets\' focus on Tuesday will shift to the latest employment report in the UK, which is expected to reveal steady levels of unemployment but alongside a pick up in wage growth.
Despite the softness in hiring hinted at by claimant count numbers and surveys, Barclays Research is expecting the rate of unemployment to hold at 3.8% for the three months to June.
The year-on-year rate of growth in headline average weekly earnings on the other hand is seen accelerating from 3.4% over the three months to May to 3.7% for the quarter ending in June.
That may help to offset concerns around the outlook for growth triggered by the latest and unexpectedly weak quarterly growth data for gross domestic product.
Stateside, the spotlight will be on a reading of consumer prices in July.
Across the channel, final CPI readings for July are also scheduled for release in Germany and Spain, together with the ZEW Institute\'s euro area economic confidence index covering the month of August.
Among the corporates that are set to update markets on Tuesday is JPJ Group.
Deutsche Bank expects the online casino outfit to post second quarter revenues down 5.0% at £74.2m (consensus: £77.6m) on the back of the sale of Mandalay and declines in Jackpotjoy UK, with the latter the result of the loss of VIP business due to enhanced due diligence requirements.
Quarterly earnings before interest, taxes, depreciation and amortisation menwhile were seen at £18.6m, versus consensus at £23.0m, weighed down by weakness in the UK and taxes, with earnings per share seen at 15.7p (consensus: 17.0p).
For the first half, EBITDA was pegged at down by 14.0%
Aside from the company\'s outlook for the second half, the bulk of the focus was expected to be on the implications of the acquisition of Gamesys \"which we view as transformational in terms of the quality of earnings, driving material cash returns to shareholders from H2 2020.\"
Tuesday August 13
INTERIMS
Caledonia Mining Corporation (DI), CLS Holdings, H&T Group, IFG Group, Marshall Motor Holdings, Mears Group, Menzies(John), Plus500 Ltd (DI)
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Price Index (US) (00:07)
Consumer Price Index (US) (13:30)
ZEW Survey (EU) - Economic Sentiment (10:00)
ZEW Survey (GER) - Current Situation (10:00)
ZEW Survey (GER) - Economic Sentiment (10:00)
Q2
Caledonia Mining Corporation (DI)
AGMS
iEnergizer Ltd.
TRADING ANNOUNCEMENTS
AA , Ethernity Networks Ltd, Volution Group (WI)
UK ECONOMIC ANNOUNCEMENTS
Claimant Count Rate (09:30)
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