Week ahead: Traders look to US jobs report for guidance on rates, Greek payment looms
The latest US non-farm payrolls figures and updates on manufacturing sector conditions worldwide will dominate the coming week’s calendar.
A looming payment of €304.3m to the IMF by Greece, due on Friday, will not be far from investors’ minds either. For the most part, analysts seem sanguine that some sort of agreement between Greece and its international lenders will be reached, but others - including US Secretary of the Treasury Jack Lew - have pointedly warned that the scope for accidents remains.
Economists estimate the US economy added 220,000 jobs in May and that the unemployment rate ticked lower by a tenth of a percentage point to 5.3% versus the prior month.
If their forecasts are met that may help to cement expectations the Federal Reserve will start raising interest rates come September.
Manufacturing sector purchasing managers’ surveys are also scheduled for release in China, the Eurozone, UK and US.
The former will be watched particularly closely given recent worries regarding the prospects for growth in Asia’s largest economy.
The Bank of England, European Central Bank and Reserve Bank of Australia are also set to decide on monetary policy, on Wednesday and Thursday, respectively. The ECB is expected to emphasise its intention to carry out its bond buying programme out in full.
Monetary policy decisions from Brazil, India, Mexico and Poland are all due to be announced as well.
House price data and Markit's services sector PMI will also be published in the UK.
Heating and plumbing merchant Wolseley will update the market on its third quarter performance on Tuesday.
UBS analysts expect the company will report a 5.9% increase in third quarter like-for-like sales driven by an 8.3% rise in the US. However, trading in Canada may have dropped off materially.
On Wednesday and Thursday International Consolidated Airlines Group, RyanAir and easyJet will update the market on their latest traffic statistics.
Monday 01 June
INTERIM DIVIDEND PAYMENT DATE
Smart (J) & Co.
QUARTERLY PAYMENT DATE
JPMorgan Claverhouse Inv Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Construction Spending (US) (15:00)
ISM 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 (EU) (09:00)
PMI Manufacturing (GER) (08:55)
Retail Sales (GER) (07:00)
GMS
Euromoney Institutional Investor, Imaginatik, MXC Capital
FINALS
Camco Clean Energy, Circle Oil, GB Group, Global Brands S.A
ANNUAL REPORT
Porta Communications
AGMS
Aeci 5 1/2% Prf, Billington Holdings, CPP Group, Fitbug Holdings, IGas Energy, Keywords Studios, Silence Therapeutics
TRADING ANNOUNCEMENTS
Jiasen International Holdings Ltd
UK ECONOMIC ANNOUNCEMENTS
PMI Manufacturing (09:30)
FINAL DIVIDEND PAYMENT DATE
Action Hotels, BAE Systems, Belvoir Lettings, North American Income Trust (The), Smart Metering Systems, Travis Perkins
Tuesday 02 June
INTERIMS
RWS Holdings
QUARTERLY EX-DIVIDEND DATE
Schlumberger Ltd.
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Auto Sales (US) (15:00)
Factory Orders (US) (15:00)
Goods Orders (US) (15:00)
International Reserves (EU) (11:00)
Producer Price Index (EU) (10:00)
Unemployment Rate (GER) (08:55)
GMS
Entu (UK)
FINALS
Acal, B.P. Marsh & Partners, First Derivatives, Fulcrum Utility Services Ltd. (DI), LondonMetric Property, OPG Power Ventures, Synergy Health
AGMS
Bagir Group Ltd. (DI), Gem Diamonds Ltd. (DI), OneSavings Bank, Safestay, Seplat Petroleum Development Company (DI), WANdisco
TRADING ANNOUNCEMENTS
Amec Foster Wheeler
UK ECONOMIC ANNOUNCEMENTS
Consumer Credit (09:30)
M4 Money Supply (09:30)
M4 Sterling Lending (09:30)
Mortgage Approvals (09:30)
PMI Construction (09:30)
FINAL DIVIDEND PAYMENT DATE
Dialight, London Stock Exchange Group
Wednesday 03 June
INTERIMS
Alternative Networks, easyHotel
QUARTERLY PAYMENT DATE
Unilever
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Trade (US) (13:30)
Beige Book Fed Survey (US) (19:00)
Crude Oil Inventories (US) (15:30)
ECB Interest Rate (EU) (12:45)
ISM Non-Manufacturing (US) (15:00)
ISM Services (US) (15:00)
MBA Mortgage Applications (US) (12:00)
PMI Composite (EU) (09:00)
PMI Composite (GER) (08:55)
PMI Services (EU) (09:00)
PMI Services (GER) (08:55)
Retail Sales (EU) (10:00)
Unemployment Rate (EU) (10:00)
FINALS
Advanced Oncotherapy, Workspace Group
ANNUAL REPORT
Volvere
AGMS
Alecto Minerals, Amara Mining, Arrow Global Group, Constellation Healthcare Technologies, Inc (Reg S), Henderson Global Trust, JKX Oil & Gas, Johnston Press, Mears Group, Outsourcery, Proton Power Systems, Robert Walters, Secure Income Reit , Sprue Aegis
TRADING ANNOUNCEMENTS
Dixons Carphone
UK ECONOMIC ANNOUNCEMENTS
BRC Shop Price Index (00:01)
Official Reserves (09:30)
PMI Composite (09:30)
PMI Services (09:30)
FINAL DIVIDEND PAYMENT DATE
Northbridge Industrial Services, Peel Hotels
Thursday 04 June
INTERIM EX-DIVIDEND DATE
A&J Mucklow Group, Artemis VCT, Associated British Foods, Blackrock Frontiers Investment Trust, Brewin Dolphin Holdings, Cardiff Property, Character Group, Daily Mail and General Trust A (Non.V), Debenhams, Electra Private Equity, Grainger, Greencore Group, Income & Growth VCT , Jelf Group, Jersey Electricity 'A' Shares, Renew Holdings, Schroder UK Mid Cap Fund, SSP Group , Urban&Civic
QUARTERLY EX-DIVIDEND DATE
Albion Technology & General VCT, Bank of America Corp., Duet Real Estate Finance Ltd, SQN Asset Finance Income Fund Limited
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Continuing Claims (US) (13:30)
Initial Jobless Claims (US) (13:30)
PMI Construction (GER) (08:30)
PMI Retail (EU) (09:10)
PMI Retail (GER) (09:10)
Productivity (US) (13:30)
GMS
Pittards
FINALS
John Laing Environmental Assets Group Limited , Johnson Matthey, Vianet Group, VP, Wincanton
ANNUAL REPORT
3i Infrastructure
SPECIAL EX-DIVIDEND PAYMENT DATE
Alliance Trust, Artemis VCT, Elderstreet VCT, Helios Underwriting, Perpetual Income & Growth Inv Trust, Synthomer, United Carpets Group
AGMS
Air Partner, Albion Development VCT, Albion Development VCT 'D' Shares, Augean, Camellia, Chariot Oil & Gas Ltd., Fidelity Japanese Values, G4S, Gaming Realms, John Lewis 5% 1st Cumulative Preference Stk 1, Lewis Php.5%Pf 5% Cum Prf Stk #1, Litebulb Group Ltd, Michael Page International, Morrison (Wm) Supermarkets, NB Distressed Debt Investment Fund Limited
UK ECONOMIC ANNOUNCEMENTS
BoE Interest Rate Decision (12:00)
New Car Registrations (09:00)
FINAL DIVIDEND PAYMENT DATE
Legal & General Group, Macfarlane Group, Trinity Mirror, TT Electronics
FINAL EX-DIVIDEND DATE
Aberdeen New Thai Inv Trust, Augean, Bank of Georgia Holdings, Billington Holdings, Bioquell, Brammer, Capital Gearing Trust, Cdialogues , Christie Group, Flowtech Fluidpower, Galasys, Gamma Communications, Headlam Group, Helios Underwriting, Inspired Energy, Irish Continental Group Units, Jiasen International Holdings Ltd, JPMorgan Euro Small Co. Trust, Keywords Studios, Laird, London & Associated Properties, Marshalls, Mckay Securities, Moss Bros Group, National Grid, Nostrum Oil & Gas , Octopus VCT 2, Pace, Powerflute Oyj (DI), Proven Planned Exit VCT, Rotala, Saga , Slingsby H.C, Spire Healthcare Group, Staffline Group, Synthomer, WPP
Friday 05 June
INTERIM DIVIDEND PAYMENT DATE
Card Factory, James Halstead
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Credit (US) (20:00)
Factory Orders (GER) (11:00)
Non-Farm Payrolls (US) (13:30)
Unemployment Rate (US) (13:30)
FINALS
Halfords Group, KCOM Group
ANNUAL REPORT
National Grid, Northern 3 VCT, Prime People
SPECIAL DIVIDEND PAYMENT DATE
Octopus AIM VCT 2
AGMS
Cathay International Holdings Ltd., EU Supply, Global Fixed Income Realisation Limited, IG Seismic Services GDR (Reg S), M. P. Evans Group, Mail.ru Group Ltd GDR (Reg S), MD Medical Group Investments GDR (Reg S), OJSC Novolipetsk Steel GDS (Reg S), TCS Group Holding GDR (Each Repr 1 A Shr) (Reg S), Volga Gas
TRADING ANNOUNCEMENTS
Alpha Pyrenees Trust Ltd., Halfords Group
FINAL DIVIDEND PAYMENT DATE
Barr (A.G.), Burford Capital , Card Factory, Clarkson, Exova Group , Goals Soccer Centres, H&T Group, Highcroft Investment, Intertek Group, Invesco Perpetual UK Small Companies Inv Trust, Konami Corp., Learning Technologies Group , Lookers, Maven Income & Growth 3 VCT, Maven Income & Growth 4 VCT, Maven Income and Growth VCT 5, Merlin Entertainments , Neptune-Calculus Income & Growth VCT, Ocean Wilsons Holdings Ltd., Octopus AIM VCT 2, OneSavings Bank, Playtech, Porvair, Rightmove, SDL, SThree, William Hill