Wednesday preview: Global services PMIs, Computacenter in focus
By Alexander Bueso
Date: Tuesday 04 Jun 2024
(Sharecast News) - The market spotlight in the middle of the week will shift to the global services sector with a raft of survey results for the month of May due out.
Of key importance amongst those will be that from the US Institute for Supply Management, with stronger or weaker than expected readings possibly even filtering into expectations for the non-farm payrolls figures which due out two days afterwards.
The ISM survey data will be published at 1400 BST.
Final readings on UK and euro area services PMIs for the same month will also be released with the latter scheduled to be published at 0830 BST.
At 1345 BST rate-setters at Bank of Canada will announce their latest rate decision.
A 25 basis point cut to 4.75% is widely anticipated.
US consultancy ADP's monthly tally of private sector payrolls may also make the headlines, although some economists are very critical regarding its accuracy.
On the company side of things, Computacenter is due to hold a Capital Markets Day.
UBS's Michel Briest wasn't anticipating any firm medium-term financial targets.
However, he was anticipating that the company would repeat that it hoped to make year-on-year progress on profits in 2024 with earnings expected to be weighted towards the back half.
Briest was also anticipating an overview of the company's positioning in each market, particularly in the States.
Computacenter's finance director had already announced the company's ambition to boost its EBIT-to-gross profit ratio to 30-35%, versus 26% in 2023.
The analyst thought that the company would now expand on the concrete steps which it would take to get there.
Wednesday 05 June
INTERIMS
Paragon Banking Group, Ramsdens Holdings
INTERIM DIVIDEND PAYMENT DATE
Carr's Group
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Crude Oil Inventories (US) (15:30)
ISM Prices Paid (US) (15:00)
ISM Services (US) (15:00)
MBA Mortgage Applications (US) (12:00)
PMI Composite (EU) (09:00)
PMI Composite (GER) (08:55)
PMI Composite (US) (14:45)
PMI Services (EU) (09:00)
PMI Services (GER) (08:55)
PMI Services (US) (14:45)
Producer Price Index (EU) (10:00)
Q4
Ninety One
FINALS
B&M European Value Retail S.A. (DI), Discoverie Group, Ninety One , VP, Workspace Group
SPECIAL DIVIDEND PAYMENT DATE
Sabre Insurance Group
AGMS
Albion Technology & General VCT, BH Macro Ltd. GBP Shares, Capital Limited (DI), Centrica, Churchill China, Distribution Finance Capital Holdings, Gem Diamonds Ltd. (DI), Great Western Mining Corporation (CDI), Gulf Marine Services, Jersey Oil and Gas , LungLife AI, Inc (DI) , Nostrum Oil & Gas , Pod Point Group Holdings, RTC Group
UK ECONOMIC ANNOUNCEMENTS
PMI Composite (09:30)
PMI Services (09:30)
FINAL DIVIDEND PAYMENT DATE
Ecora Resources, Epwin Group, Genuit Group, Porvair, Sabre Insurance Group
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