Thursday preview: Global manufacturing, Next in the spotlight

updated: 31 March 2021 at 6:11pm Author: Alexander Bueso

(Sharecast News) - Financial markets' focus on Thursday will be on global manufacturing sector conditions in March, including on either side of the Atlantic.


The Institute for Supply Management's factory Purchasing Managers' Index is expected to come in at 61.0, up slightly from an already elevated reading of 60.8 for February.

At home, economists anticipate that a final reading on consultancy IHS Markit's factory sector PMI will be unchanged from a preliminary reading of 57.9.

In February, the PMI had printed at 55.1.

Equivalent survey results are also due out in the euro area, with the PMI there pegged to come in at 62.4, against a February reading of 57.9.

Further afield, the Bank of Japan is due to publish the results of its business confidence survey for the month of March.

All in all, trading conditions are expected to be light ahead of the Easter holidays despite it being the first session of the second quarter.

Not to lose sight of either, Friday is expected to bring with it the always eagerly anticipated monthly reading on US non-farm payrolls.



On the corporate calendar for Thursday, online fashion retailer Next is due to publish figures for its 2021 financial year.

However, UBS analyst, Olivia Townsend, anticipates that investors' focus will be on what the company has to say in terms of the outlook.

Aside from an update on current trading, she is looking for added colour from management on its Total Platform.

Regarding results for the firm's financial year ending on 31 January, the analyst saw less scope for upside surprises versus Next's own guidance for profits before tax of £342m.

Key in that respect, Next had already displayed caution about the potential extent of sales shifting from Retail to Online.

Similarly, Townsend did not expect management to change its already published scenario analysis for the company's 2022 financial year.

Thursday 01 April

INTERIM DIVIDEND PAYMENT DATE

Beeks Financial Cloud Group, Genus, Pennon Group, PZ Cussons

INTERIM EX-DIVIDEND DATE

Heavitree Brewery 11 1/2% Cum Prf , Softcat, Thorpe (F.W.)

QUARTERLY PAYMENT DATE

Brunner Inv Trust, Total SE

QUARTERLY EX-DIVIDEND DATE

Blackrock North American Income Trust , BMO UK High Income Trust , Contour Global , Primary Health Properties, Value and Indexed Property Income Trust

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Auto Sales (US) (21:30)

Construction Spending (US) (15:00)

Continuing Claims (US) (13:30)

Initial Jobless Claims (US) (13:30)

ISM Manufacturing (US) (15:00)

PMI Manufacturing (GER) (08:55)

PMI Manufacturing (EU) (09:00)

PMI Manufacturing (US) (14:45)

Retail Sales (GER) (07:00)

FINALS

Equiniti Group , Next, Proteome Sciences, Sportech

SPECIAL EX-DIVIDEND DATE

BMO UK High Income Trust B Shares, Invesco Income Growth Trust, Quartix Holdings

AGMS

St. Modwen Properties, URU Metals Ltd. (DI)

TRADING ANNOUNCEMENTS

Renew Holdings

UK ECONOMIC ANNOUNCEMENTS

PMI Manufacturing (09:30)

FINAL DIVIDEND PAYMENT DATE

Barclays, Blackrock Throgmorton Trust, Bristol Water 'A' 8 3/4% Cum Irrd Prf, General Accident (Prf), John Menzies 9% Cumulative Preference 1, Morgan Advance Materials 5% Cumulative 2nd Preference 1, Morgan Advance Materials 5.5% Cumulative 1st preference 1, Rights & Issues Investment Trust , RSA Ins 7 3/8%pf, Stand.Ch.7te%pr, Standard Chartered 8 1/4% Non-Cum Irrd Pref, TOC Property Backed Lending Trust

FINAL EX-DIVIDEND DATE

Amino Technologies, Chemring Group, Convatec Group , Hammerson, IMI, Melrose Industries, Personal Group Holdings, Phoenix Group Holdings , Quartix Holdings , Smart Metering Systems, Smith & Nephew, Taylor Wimpey, Wynnstay Group