What's happening this week? - Markets & News - The Share Centre

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Market Report: 16 October 2017

There seems to be little that can derail this equity bull market as the US and UK markets set new records during the week. Last week, the weakness in the US$ and a fairly dovish tone from the FOMC’s minutes led the market to reassess the pace of tightening. This came before the latest inflation data showing that price rises in the states during September was weaker than expected even though it was higher than the previous month. In the UK we saw reasonably good manufacturing, construction and industrial production data.

This week the UK data releases will take centre stage. We start off on Tuesday with inflation data with the yoy figure expected to hit 3%, for which the Bank of England forecasts that it will drop off as the months go along. The on Wednesday we have the latest jobs figures with the unemployment rate expected to stick to a lowly 4.3% but still we are not expected to see any contraints in the labour market as the wage growth is expected to remain anaemic at around 2%. Then on Thursday we get Retail Sales numbers where we are expecting to see a flat month on month number with commentary from the market on the pressures faced by the consumer.
Outside of the UK, the key event to look out for will be the Chinese Q3 GDP numbers expected at 6.8%, amazingly consistent and close to the bureaucrat’s target of 7%.

Author: Helal Miah, Investment Research Analyst

The Week Ahead

Important economic releases & events this week:

Date Country Event Period Actual Consensus Prior
16-Oct-2017 CN CPI NSA Y/Y SEP 1.6% 1.6% 1.8%
16-Oct-2017 CN PPI NSA Y/Y SEP 6.9% 6.6% 6.3%
16-Oct-2017 JP Industrial Production SA M/M (Final) AUG   2.0% 2.1%
16-Oct-2017 JP Industrial Production M/M (Final) AUG   5.4% 5.4%
16-Oct-2017 JP Retail Sales NSA Y/Y (Final) AUG     1.7%
17-Oct-2017 UK  CPI Core NSA Y/Y SEP   2.8% 2.7%
17-Oct-2017 UK CPI EU Harmonized NSA M/M SEP   0.30% 0.60%
17-Oct-2017 UK CPI EU Harmonized NSA Y/Y SEP   3.0% 2.9%
17-Oct-2017 UK ONS House Price NSA Y/Y AUG     5.1%
17-Oct-2017 UK Retail Price Index NSA M/M SEP   0.35% 0.70%
17-Oct-2017 UK Retail Price Index NSA Y/Y SEP   4.1% 3.9%
17-Oct-2017 UK RPI ex-Mortgage Interest Payments NSA M/M SEP     0.70%
17-Oct-2017 UK RPI ex-Mortgage Interest Payments NSA Y/Y SEP     4.1%
17-Oct-2017 EUZ CPI Core NSA Y/Y (Final) SEP   1.1% 1.1%
17-Oct-2017 EUZ CPI NSA M/M SEP   0.40% 0.30%
17-Oct-2017 EUZ CPI EU Harmonized Y/Y (Final) SEP   1.5% 1.5%
17-Oct-2017 US Capacity Utilization NSA SEP   76.2% 76.1%
17-Oct-2017 US Industrial Production SA M/M SEP   0.30% -0.90%
17-Oct-2017 US Manufacturing Production M/M SEP   0.05% -0.26%
18-Oct-2017 UK Claimant Count Change SA SEP   2.5K -2.8K
18-Oct-2017 UK Claimant Count Rate SEP   2.3% 2.3%
18-Oct-2017 UK Employment Change SA AUG   143.0K 181.4K
18-Oct-2017 UK ILO Unemployment Rate 3-M AUG   4.3% 4.3%
18-Oct-2017 UK Average Weekly Earnings excl. bonuses 3-M/Y AUG   2.0% 2.1%
18-Oct-2017 UK Average Weekly Earnings incl. bonuses 3-M/Y AUG   2.1% 2.1%
18-Oct-2017 US Fed Beige Book        
19-Oct-2017 CN GDP NSA Y/Y Q3   6.8% 6.9%
19-Oct-2017 CN Industrial Output NSA Y/Y SEP   6.4% 6.0%
19-Oct-2017 CN Industrial Output (Cumulative) Y/Y SEP     6.7%
19-Oct-2017 CN Retail Sales NSA Y/Y SEP   10.1% 10.1%
19-Oct-2017 UK Retail Sales SA M/M SEP   0.0% 1.0%
19-Oct-2017 UK Retail Sales SA Y/Y SEP   2.3% 2.4%
20-Oct-2017 UK Public Sector Net Borrowing NSA SEP     £5.1B
20-Oct-2017 UK Public Sector Net Cash Requirement NSA SEP     £0.04B


Companies reporting this week:

Date Company Name Event Description
16-Oct-2017 ConvaTec Group Plc Q3 2017 Sales and Revenue Release - Trading Update
16-Oct-2017 Rio Tinto Plc Q3 2017 Sales and Revenue Release - Production Results
17-Oct-2017 Merlin Entertainments Plc Q3 2017 Sales and Revenue Release - Trading Update
17-Oct-2017 Pearson Plc Q3 2017 Sales and Revenue Release
18-Oct-2017 BHP Billiton Plc Q3 2017 Sales and Revenue Release - Operational Review
18-Oct-2017 Reckitt Benckiser Group Plc Q3 2017 Sales and Revenue Release - Trading Update
19-Oct-2017 SEGRO Plc Q3 2017 Sales and Revenue Release - Trading Update
19-Oct-2017 Travis Perkins Plc Q3 2017 Sales and Revenue Release - Trading Update
19-Oct-2017 London Stock Exchange Group Plc Q3 2017 Sales and Revenue Release
19-Oct-2017 Unilever Plc Q3 2017 Sales and Revenue Release - Trading Statement
20-Oct-2017 InterContinental Hotels Group Plc Q3 2017 Sales and Revenue Release - Trading Update


Glossary

PMI: Purchasing Managers Index

CPI: Consumer Price Index

GDP: Gross Domestic Product

BOE: Bank of England

ECB: European Central Bank

FOMC: Federal Open Market Committee

BOJ: Bank of Japan

ISM: Institute for Supply Management

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