Wednesday preview: UK Parliament, Barratt Developments in focus

updated: 3 September 2019 at 1:05pm Author: Alexander Bueso

(Sharecast News) - The market spotlight on Wednesday will continue to be squarely on politics, especially on this side of the Pond.






Overnight, MPs are expected to table a legislative bill to try and block a 'no deal' Brexit which, if successful, may result in early elections being called.

Important as well, the results of voting among the rank and file of Italy's Five Star party, on whether to embark on a coalition government with the PD party are also expected overnight.

The outcome of either (or both) event could easily set off a notable amount of volatility in financial markets.

Against that backdrop, multiple rate-setters are scheduled to take to the podium, both from the Federal Reserve and the European Central Bank, possibly shedding some light on what investors can expect when they next meet to decide on policy in their respective jurisdictions later in September.

On the corporate side of things, Barratt Developments will likely hog the headlines in the middle of the week.

Given that the homebuilder has already disclosed most metrics for its last financial year, UBS's Gregory Kuglitsch expects investors' focus to be on trading since 30 June and its guidance for the year ahead.

He believed sales per site per week had been flat in year-on-year terms over July and August, extending the trend observed over the first half.

For 2020, he is anticipating volume growth of 3.1% (ex JV) together with a 20 basis point expansion in its operating profits to 19.0% for post tax profits of £929.0m.

Wednesday 4 September

FINALS

Barratt Developments, Frontier Developments

INTERIMS

Inspired Energy, Oxford Biomedica

AGMs

Solid State

Walker Crips Group

Maven Income And Growth VCT 6

SRT Marine Systems

Polar Capital Technology Trust

U And I Group

Vordere

Alpha Financial Markets Consulting

Lindsell Train Inv Trust

FINAL DIVIDEND PAYMENT DATE

Royal Mail

INTERIM DIVIDEND PAYMENT DATE

Man Group, Inchcape, St. Modwen Properties

QUARTERLY EX-DIVIDEND PAYMENT DATE

Kosmos Energy (DI)

UK ECONOMIC ANNOUNCEMENTS

PMI Services (09:30)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

PMI Services (GER) (08:55), PMI Composite (GER) (08:55), PMI Services (EU) (09:00), PMI Composite (EU) (09:00), Retail Sales (EU) (10:00), MBA Mortgage Applications (US) (12:00), Balance of Trade (US) (13:30), PMI Composite (US) (14:45)