Wednesday preview: UK budget, Greek talks to dominate news flow
A relatively quiet day in terms of economic data and corporate results is likely to keep the focus on Greece on Wednesday, though George Osborne's so-called “emergency” budget will grab a few headlines closer to home.
The UK Chancellor is expected to unveil £12bn in welfare cuts and changes to taxation in a budget statement to the House of Commons, scheduled to start at 1100 BST.
Measures to improve housebuilding could see construction stocks move, while investors of listed banks will be watching out for any potential movement on the controversial bank levy imposed in wake of the global financial crisis.
Meanwhile, retail stocks could be boosted by a move to allow shops in England and Wales to be open for longer on Sundays by handing the responsibility to local towns and cities.
As for Greece, after officials from Athens failed to present a new proposal to Eurozone finance ministers on Tuesday, expectations are high that a new plan could be shown at further meetings in Brussels on Wednesday.
After Sunday's referendum saw the Greek public vote a resounding 'no' to creditors' previous bailout proposal, Eurozone leaders have urged the government to draw up a new economic package to be agreed in exchange for funds.
Scheduled trading statements from Booker Group, Galliford Try and Taylor Wimpey will also be released on Wednesday morning.
Wednesday 08 July
INTERIM DIVIDEND PAYMENT DATE
Cardiff Property
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Crude Oil Inventories (US) (15:30)
FOMC Interest Rate Minutes (US) (19:00)
MBA Mortgage Applications (US) (12:00)
FINALS
Micro Focus International
SPECIAL EX-DIVIDEND PAYMENT DATE
3i Infrastructure
AGMS
Active Energy Group, Biotech Growth Trust (The), Booker Group, Capital Gearing Trust, Great Portland Estates, Northern 3 VCT, Palace Capital , Sainsbury (J), Shires Income, UK Mail Group
TRADING ANNOUNCEMENTS
Booker Group, Galliford Try, Taylor Wimpey
UK ECONOMIC ANNOUNCEMENTS
BRC Shop Price Index (00:01)
FINAL DIVIDEND PAYMENT DATE
Air China Ltd., London Security, Restaurant Group, Tarsus Group