Week ahead: Non-farm payrolls and UK retail results to steal the show
Next week is set to be a busy one for financial markets in London with investors having to digest a flurry of global economic data and corporate results from a number of prominent UK retailers.
ASOS
356.80p
16:49 19/04/24
FTSE 100
7,895.85
16:59 19/04/24
FTSE 350
4,341.08
17:09 19/04/24
FTSE AIM 100
3,595.66
17:08 19/04/24
FTSE AIM 50
3,943.93
17:08 19/04/24
FTSE AIM All-Share
745.67
17:08 19/04/24
FTSE All-Share
4,296.41
17:08 19/04/24
General Retailers
3,864.64
17:09 19/04/24
Kingfisher
245.60p
16:45 19/04/24
Marks & Spencer Group
245.80p
17:05 19/04/24
The focus is likely to continue to be on US economic indicators, given recent concerns about a slowdown in growth in the first quarter.
The US employment report will be the big release of the week on Friday, given ongoing speculation about the timing of the first rate hike by the Federal Reserve. The consensus forecast is for non-farm payrolls of 250,000 in March, down from 295,000 the previous month, while the jobless rate is predicted to remain unchanged at 5.5% after dropping from 5.7% the previous month.
However, as analysts at Danske Bank explained, markets are likely to pay close attention to the average hourly earnings component of the report. "Wage inflation is still subdued and we would expect to see a pick-up soon, as the labour market improvement advances," they said.
In the corporate world, high street stalwart Marks & Spencer, DIY retailer Kingfisher and online fashion seller Asos will be among the companies reporting figures next week, with markets waiting to see how the recent drop in inflation and low fuel costs are affecting consumer spending.
Kingfisher reports its annual results on Tuesday with pre-tax profit forecast to fall around 10% to £683m in the year ended 31 January 2015, as weakness in France and Poland offsets strong growth in the UK, particularly at Screwfix.
Asos is next up on Wednesday with its interims with the focus likely to be on the bottom line. Earlier this month, the retailer impressed with a strong acceleration in sales growth in the second quarter, but said margins had fallen sharply due to price investments and the roll-out of 'zonal pricing'. Zonal pricing allows the group to set localised prices dependent on local conditions, which aims to give protection against FX movements.
Thursday will see the release of M&S's fourth-quarter trading update and UBS is looking for a 2% fall in general merchandise like-for-like sales and a flat performance in food. For the non-food division in particular, this would represent a much better showing than the third quarter in which LFL sales plunged 5.8%.
Monday March 30
INTERIMS
Quadrise Fuels International
INTERIM DIVIDEND PAYMENT DATE
Mountview Estates
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Business Climate Indicator (EU) (10:00)
Economic Sentiment Indicator (EU) (10:00)
Pending Homes Sales (US) (15:00)
Personal Consumption Expenditures (US) (13:30)
Personal Income (US) (13:30)
Personal Spending (US) (13:30)
GMS
Serco Group
FINALS
AA , AL Noor Hospitals Group, Central Asia Metals, Globaltrans Investment GDR (Reg S), Instem, Learning Technologies Group , Miton Group, Outsourcery, Plant Health Care, XLMedia
ANNUAL REPORT
Fidelity European Values, Nichols, Nichols
AGMS
Turk Ekonomi GDR Bankasi AS GDR (Reg S)
UK ECONOMIC ANNOUNCEMENTS
Consumer Credit (09:30)
M4 Money Supply (09:30)
M4 Sterling Lending (09:30)
Mortgage Approvals (09:30)
FINAL DIVIDEND PAYMENT DATE
New Europe Property Investments
FINAL EX-DIVIDEND DATE
Mitsubhi Electric Corp.
Tuesday March 31
INTERIMS
Inland Homes, James Halstead
INTERIM DIVIDEND PAYMENT DATE
BHP Billiton, The Renewables Infrastructure Group Limited
QUARTERLY PAYMENT DATE
Custodian Reit , HICL Infrastructure Company Ltd, MedicX Fund Ltd., Premier Energy & Water Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Chicago PMI (US) (14:45)
Consumer Confidence (US) (15:00)
International Reserves (EU) (11:00)
Unemployment Rate (EU) (10:00)
Unemployment Rate (GER) (08:55)
FINALS
Avengardco Investments Public Ltd GDR, Chesnara, Christie Group, e-Therapeutics, InternetQ, Kingfisher, LiDCO Group, Martinco , MMC Norilsk Nickel ADR, PJSC Centre For Cargo Container Traffic Transcontainer GDR (Reg S)
ANNUAL REPORT
EMIS Group, Ferrexpo, Old Mutual
SPECIAL DIVIDEND PAYMENT DATE
Rensburg AIM VCT
AGMS
China Rerun Chemical Group Ltd (DI), ECR Minerals, Horizonte Minerals, Hume Capital Securities, IRF European Finance Investments Ltd (DI), Sula Iron & Gold, Turkiye is Bankasi A.S GDR C Shs (Reg S)
TRADING ANNOUNCEMENTS
Thomas Cook Group
UK ECONOMIC ANNOUNCEMENTS
Balance of Payments (09:30)
Consumer Confidence (09:30)
Current Account (09:30)
GDP (quarterly national accounts) (09:30)
GFK Consumer Confidence (00:05)
Index of Services (09:30)
FINAL DIVIDEND PAYMENT DATE
Aviva 8 3/8% Cumulative Irrd Preference 1, Henderson Opportunities Trust, Innovation Group, Northern Electricity Prf, Rights & Issues Inv Trust Capital Shares, Rights & Issues Inv Trust Income Shares, Temple Bar Inv Trust
Wednesday April 01
INTERIMS
ASOS
INTERIM DIVIDEND PAYMENT DATE
Darty
QUARTERLY EX-DIVIDEND DATE
Torchmark Corp.
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Auto Sales (US) (15:00)
Construction Spending (US) (15:00)
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)
FINALS
Evraz
ANNUAL REPORT
Evraz
AGMS
Advance Developing Markets Fund Ltd.
UK ECONOMIC ANNOUNCEMENTS
PMI Manufacturing (09:30)
FINAL DIVIDEND PAYMENT DATE
General Accident (Prf)
Thursday April 02
INTERIM DIVIDEND PAYMENT DATE
Clinigen Group, Hansard Global, MJ Gleeson , Pennon Group, River and Mercantile Group , Thorpe (F.W.), Wilmington Group
INTERIM EX-DIVIDEND DATE
Abbey, Finsbury Food Group, Game Digital, GETECH Group, Henderson EuroTrust, Photo-Me International, Plexus Holdings, Produce Investments, Renewable Energy Generation Ltd., Smith (DS), Volution Group (WI), Wolseley
QUARTERLY PAYMENT DATE
Barclays
QUARTERLY EX-DIVIDEND DATE
Investors Capital Trust 'A' Shares, JP Morgan Chase & Co, Mercantile Investment Trust (The)
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Trade (US) (13:30)
Factory Orders (US) (15:00)
Goods Orders (US) (15:00)
Retail Sales (GER) (07:00)
FINALS
Forbidden Technologies
ANNUAL REPORT
Alpha Pyrenees Trust Ltd., Ladbrokes, Pacific Assets Trust, ProPhotonix (DI)
SPECIAL DIVIDEND PAYMENT DATE
River and Mercantile Group
SPECIAL EX-DIVIDEND PAYMENT DATE
Game Digital
AGMS
Amino Technologies, Scottish American Inv Company, XP Power Ltd. (DI)
TRADING ANNOUNCEMENTS
Electrocomponents, Marks & Spencer Group, Tate & Lyle
UK ECONOMIC ANNOUNCEMENTS
PMI Construction (09:30)
FINAL DIVIDEND PAYMENT DATE
Greencore Group, Hiscox Ltd (CDI), LPA Group, MTI Wireless Edge Ltd., St. Modwen Properties
FINAL EX-DIVIDEND DATE
Amino Technologies, BrainJuicer Group, Cambian Group, Dragon Oil, Fyffes, Glanbia, HGCapital Trust, InterContinental Hotels Group, Interserve, Jardine Lloyd Thompson Group, John Laing Infrastructure Fund Ltd, Journey Group, Lloyds Banking Group, Nichols, Pearson, SpaceandPeople
Friday April 03
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Non-Farm Payrolls (US) (13:30)
Unemployment Rate (US) (13:30)
ANNUAL REPORT
Menzies(John)
EGMS
OJSC Phosagro GDR (Regs), Public Power GDR SA (Reg S)
FINAL DIVIDEND PAYMENT DATE
Treatt