Thursday preview: US fiscal stimulus, global manufacturing in focus

updated: 30 September 2020 at 8:23pm Author: Alexander Bueso

(Sharecast News) - The focus on Thursday will likely be on news overnight that US lawmakers were indeed narrowing their differences on the proposed size of a fourth government spending package, despite the looming elections on 3 November.

Against that backdrop, investors will be monitoring the latest weekly jobless claims data out in the US, which will be followed by the all-important monthly non-farm payrolls report the next day.

To take note of, some economists have pointed to the risk that while the September non-farm payrolls figures may show a still moderate pace of recovery in the US jobs market, hiring may be set to stall in October.

Also in focus will be a raft of manufacturing sector Purchasing Managers Indices that are set for release in the euro area, UK and US for throughout the session.

In the case of the UK, survey compiler IHS Markit's factory PMI is expected to show that factory activity slowed only a tad last month, with consensus anticipating a preliminary print of 54.3 to be confirmed following a reading of 55.2 for August.

Euro area manufacturing meanwhile is expected to be confirmed to have accelerated while in the US a small dip is anticipated.

A speech from European Central Bank chief economist, Philip Lane, at 1645 BST, will likely be also closely monitored after his boss at the ECB, Christine Lagarde, floated the possibility of reviewing the monetary authority's inflation target just the day before.

Thursday 01 October

INTERIMS

Burford Capital , Lamprell

INTERIM DIVIDEND PAYMENT DATE

Aggreko, Bristol Water 'A' 8 3/4% Cum Irrd Prf, Croda International, General Accident (Prf), John Menzies 9% Cumulative Preference 1, RSA Ins 7 3/8%pf

INTERIM EX-DIVIDEND DATE

Aberdeen New India Investment Trust, AVI Japan Opportunity Trust , Fisher (James) & Sons, Franchise Brands, Frenkel Topping Group, Hastings Group Holdings , Ingenta, JPMorgan Russian Securities, Kaz Minerals , Oakley Capital Investments Ltd. (DI), Smith & Nephew, TP ICAP

QUARTERLY PAYMENT DATE

Blackrock North American Income Trust

QUARTERLY EX-DIVIDEND DATE

Alpha Real Trust Ltd., Anglo Pacific Group, BMO Private Equity Trust, BMO UK High Income Trust , British American Tobacco, Real Estate Investors, Scottish Inv Trust, Value and Income Trust, Volta Finance Limited, Volta Finance Limited NPV (GBP)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Auto Sales (US) (20:30)

Construction Spending (US) (15:00)

Continuing Claims (US) (13:30)

Initial Jobless Claims (US) (13:30)

ISM Non-Manufacturing (US) (15:00)

ISM Prices Paid (US) (15:00)

Personal Consumption Expenditures (US) (13:30)

Personal Income (US) (13:30)

Personal Spending (US) (13:30)

PMI Manufacturing (GER) (08:55)

PMI Manufacturing (EU) (09:00)

PMI Manufacturing (US) (14:45)

Producer Price Index (EU) (10:00)

Unemployment Rate (EU) (10:00)

FINALS

James Halstead

SPECIAL EX-DIVIDEND DATE

BMO UK High Income Trust B Shares

EGMS

Unilever

AGMS

Anglo African Oil & Gas , Boston International Holdings

UK ECONOMIC ANNOUNCEMENTS

PMI Manufacturing (09:30)

FINAL DIVIDEND PAYMENT DATE

Halma

FINAL EX-DIVIDEND DATE

Beeks Financial Cloud Group, Fletcher King, Hansard Global, Heavitree Brewery 11 1/2% Cum Prf , HML Holdings, IG Design Group, Mid Wynd International Inv Trust, PHSC, Standard Life UK Smaller Companies Trust