Tuesday preview: Parliament, employment report in focus

updated: 18 March 2019 at 12:45pm Author: Alexander Bueso

(Sharecast News) - After House Speaker, John Bercow's, decision that the Prime Minister would be best advised not to pursue a third vote on her withdrawal proposal, global investors' attention is now likely be trained on Westminster all the more intensely.
For some observers, the probability of a 'no deal' Brexit is now increased, but so too perhaps the potential political capital to be gained from avoiding such an outcome, which until recently many MPs appeared to see as a 'step too far'.

It is against that backdrop that, at 0930 GMT, the Office for National Statistics is set to publish its employment report for the month of February.

Commenting on the likely contents of that report, economists at Barclays Research told clients: "Recent survey data suggest that political uncertainty may now be weighing on job market as PMI, GfK and recruiter surveys signal increased expectations of rising unemployment.

"We expect the unemployment rate to remain stable at 4% in January but see upside risks in the coming months. We forecast core and headline earnings growth to remain steady at 3.4% 3m/y as surveys suggest wage growth plateauing around recent highs."

On the corporate side of things, and for Ocado's trading update, Numis's Andrew Wade expects the online retailer to report retail sales growth of 6%, albeit versus a 12% increase one year ago.

Furthermore, the fire at its customer-fulfilment-centre at Andover was expected to result in flat full-year sales in Retail, Wade said.

Actions to compensate for the fire and a quicker ramp-up of its operations at fourth CFC meanwhile were expected to take a toll on operating profits in its retail arm.

Tuesday 19 March


Tribal Group, TP ICAP, Zotefoams, Wood Group (John), Team17 Group, NAHL GROUP, Mears Group, JPJ Group, Ocean Outdoor Limited NPV (DI), Judges Scientific, Kape Technologies, Elecosoft, Learning Technologies Group, Antofagasta, Mortgage Advice Bureau (Holdings), Applegreen, Bango


SCS Group, Softcat

Trading announcement

ASOS, Ocado Group


Chenavari Toro Income Fund Limited NPV, Blue Prism Group, BB Healthcare Trust (Red), Sureserve Group

Annual report

Arrow Global Group

Final Ex-Dividend Date

Seplat Petroleum Development Company (DI)

Final Dividend Payment Date

Blackrock Income And Growth Investment Trust

CC Japan Income & Growth Trust

Quarterly Ex-Dividend Date

Total SA

UK Economic Announcements

Claimant Count Rate (09:30)

Retail Sales (09:30)

International Economic Announcements

Wholesale Price Index (GER) (07:00), ZEW Survey (EU) - Economic Sentiment (10:00), ZEW Survey (GER) - Current Situation (10:00), ZEW Survey (GER) - Economic Sentiment (10:00), Building Permits (US) (12:30)

Housing Starts (US) (12:30), Factory Orders (US) (14:00)