Wednesday preview: Manufacturing PMIs, ADP report in focus
As the Greek debt crisis continues to dominate headlines, a barrage of global economic data will likely keep investors busy on Wednesday, including some closely-watched manufacturing indicators.
Purchasing managers' indices (PMIs) measuring manufacturing activity in June across China, the Eurozone, UK and US will all be released on Wednesday and are mostly expected to show that growth picked up this month. Growth is indicated by figures above the break-even mark of 50.
The Chinese government's 'official' manufacturing PMI is forecast to improve to 50.4 from 50.2; the final estimate of the Markit Eurozone manufacturing PMI is expected to remain unchanged at 52.5, in line with the flash estimate and the previous month; the Markit UK manufacturing PMI is estimated to inch higher to 52.5 from 52.0; while the ISM manufacturing PMI is forecast to rise to 53.1 from 52.8.
The closely-watched ADP employment report Stateside will also be released and is predicted to show that 218,000 private payrolls were added to the US economy in June, up from 201,000 in May.
Although sometimes not a reliable measure, the ADP report is often seen as a rough guide to the official government non-farm payroll report, which will be released on Thursday (one day earlier than usual due to the long weekend in the US for Fourth of July celebrations).
Figures on auto sales, construction spending, crude oil inventories and mortgage applications will also be released in the States on Wednesday.
In terms of company results, full-year figures from Anite and Greene King will be released, along with a quarterly trading update from Tullow Oil.
Wednesday 01 July
INTERIM DIVIDEND PAYMENT DATE
A&J Mucklow Group, Bellway
QUARTERLY PAYMENT DATE
Blackrock North American Income Trust , Total SA
QUARTERLY EX-DIVIDEND DATE
Torchmark Corp.
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Auto Sales (US) (15:00)
Construction Spending (US) (15:00)
ADP Employment (13:15)
Crude Oil Inventories (US) (15:30)
ISM Manufacturing (US) (15:00)
ISM Prices Paid (US) (15:00)
MBA Mortgage Applications (US) (12:00)
PMI Manufacturing (EU) (09:00)
PMI Manufacturing (GER) (08:55)
Retail Sales (GER) (07:00)
PMI Manufacturing (CHI) (02:00)
PMI Non-Manufacturing (CHI) (02:00)
GMS
Churchill Mining
FINALS
Anite, Greene King, Koovs
EGMS
European Assets Trust NV (Regd)
AGMS
Home Retail Group, Kibo Mining, Renewable Energy Holdings, TechFinancials (DI)
TRADING ANNOUNCEMENTS
Tullow Oil
UK ECONOMIC ANNOUNCEMENTS
PMI Manufacturing (09:30)
FINAL DIVIDEND PAYMENT DATE
Bunzl, Cdialogues , Headlam Group, Rolls-Royce Holdings