Thursday preview: US data, Italian coalition talks in focus

updated: 28 August 2019 at 3:58pm Author: Alexander Bueso

(Sharecast News) - The spotlight on Thursday will shift back towards the US, where a barrage of top-tier data are set for release.
Included among those are a revised reading on second quarter gross domestic product and a preliminary print on foreign trade in July.

Economists at Barclays are anticipating that the rate of GDP growth during the period will be revised lower from an initial estimate of 2.1% to 1.8% due to lower estimates for inventory building, residential investment and government outlays.

Across the Channel meanwhile, investors will continue to monitor the headlines around the potential creation of a new coalition government in Italy, which would arguably constitute a small break in the clouds hanging over the economic outlook for the single currency bloc - at least for the short-term/

A reading on German unemployment covering the month of August is also due out, together with figures on French household spending in July and French second quarter GDP.

No major economic reports are scheduled for release in the UK.

Hunting's first half numbers will be in focus on Thursday even as investors try to anticipate the most likely direction for the world economy and oil prices.

At the time of its last trading update, the oilfield services outfit was seeing conditions improve in the US onshore completion market with a similar dynamic reported in EMEA and Asia Pacific with Canada being the laggard.

Group sales in the first six months of the year were seen higher versus 2018 with earnings before interest, taxes, depreciation and amortisation marginally ahead.

For its key Titan perforating systems unit, the company was expecting sales to be broadly in-line with the comparable year-ago period, although a reduction in excess inventories and price changes in certain product lines were seen dragging on the division's operating profits and margins.

Net cash excluding lease liabilities meanwhile was pegged in a range of $85.0-$90.0m at 30 June.

Thursday August 29

INTERIMS

Chesnara, Churchill China, Eddie Stobart Logistics , Fisher (James) & Sons, Hunting, Public Joint Stock Company Rosseti GDR (Each REPR 200 ORD) Reg S, The Gym Group

INTERIM EX-DIVIDEND DATE

Ascential, Baronsmead Second Venture Trust, Baronsmead Venture Trust, Camellia, Capital & Counties Properties , Centamin (DI), Charter Court Financial Services Group , Chemring Group, CRH, Globaldata, Hammerson, Hochschild Mining, Hostelworld Group , InterContinental Hotels Group, JPMorgan American Inv Trust, Mincon Group , National Express Group, Northern Electricity Prf, OneSavings Bank, Plus500 Ltd (DI), Polypipe Group , Quilter, Rights & Issues Inv Trust Income Shares, Rotork, Secure Trust Bank, St James's Place, Transgloble Energy Corporation NPV (DI), Tullow Oil, Ultra Electronics Holdings, Wood Group (John)

QUARTERLY PAYMENT DATE

Greencoat Renewables

QUARTERLY EX-DIVIDEND DATE

BlackRock World Mining Trust, Canadian General Investments Ltd.

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Business Climate Indicator (EU) (10:00)

Consumer Confidence (EU) (10:00)

Continuing Claims (US) (13:30)

Economic Sentiment Indicator (EU) (10:00)

GDP (Preliminary) (US) (13:30)

Import Price Index (GER) (07:00)

Industrial Confidence (EU) (10:00)

Initial Jobless Claims (US) (13:30)

Pending Homes Sales (US) (15:00)

Personal Consumption Expenditures (US) (13:30)

Services Confidence (EU) (10:00)

Unemployment Rate (GER) (08:55)

FINALS

Hays

SPECIAL EX-DIVIDEND DATE

Martin Currie Asia Unconstrained Trust

AGMS

Braveheart Investment Group, Dods Group, Downing One VCT

FINAL EX-DIVIDEND DATE

600 Group, Alpha Financial Markets Consulting, Auto Trader Group , DWF Group , Gordon Dadds Group , Knights Group Holdings , Robinson, Solid State, TheWorks.Co.Uk, XPS Pensions Group

Q1

Amigo Holdings