Thursday preview: Consumer credit figures in the spotlight
Investors will have quite a bit on their plates on Thursday, especially on the economic front.
At home, the spotlight will be on the latest mortgage and consumer credit figures for the month of April, given the recent weakness seen in consumer spending.
Also due out are survey readings on consumer confidence (GfK), business sentiment (Lloyds) and house prices (Halifax), all referencing the month of May.
However, markets' focus may rapidly shift, depending on events in Italy and Spain.
In the latter, the lower house of Parliament will debate the ins and out of the Socialist PSOE's no-confidence vote against the country's Prime Minister, Mariano Rajoy.
Market's will be especially attuned to details of PSOE's plans should it succeed.
Yet perhaps the most sensitive bit of data, barring the risk of the proverbial 'bolt out of the Eurozone periphery', will be the US personal income and spending report for April at 1330 BST.
In particular, it will be interesting to see if economists' forecasts for a dip in the price gauges contained in the same report pan out.
Among the company's that are slated to update investors with their latest full-year figures is Johnson Matthey, with the analyst consensus anticipating full-year sales of £3.84bn and profits before tax of £455m, for earnings per share of 204.9p.
"Growth is likely to be steady rather than spectacular, but market share gains would be welcome, especially in light duty vehicles," said broker Hargreaves Lansdown, highlighting longer-term hopes being pinned on a budding battery components business to tap into the electric vehicle market as catalytic converter demand wanes.
"JMAT has focussed on the development of high energy battery materials – specifically enhanced lithium nickel oxide. Early tests of JMAT’s technology have reportedly delivered some very positive results. Initial trials are underway with six industrial customers, with a pilot production plant being developed. Further progress on this front will be well received."
A first quarter update was also scheduled from Card Factory, which had continued to see sales climb in recent results, driven by new store openings.
Analysts at UBS are anticipating LFL sales growth up by 3% and total sales ahead by 6%, with management having stated at the full year results in April that there had been a satisfactory start to the year, with a good performance over Valentine's Day, despite a tough comparison from the prior year.
With improved weather of late, retailers have reported a bit of an upturn but UBS said it would be paying particular note to product mix, with non-card outperforming strongly in H2 last year, with consequent dilution of gross margins.
Thursday May 31
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Chicago PMI (US) (14:45)
Consumer Price Index (EU) (10:00)
Continuing Claims (US) (13:30)
Crude Oil Inventories (US) (15:30)
Initial Jobless Claims (US) (13:30)
Pending Homes Sales (US) (15:00)
Personal Consumption Expenditures (US) (13:30)
Personal Income (US) (13:30)
Personal Spending (US) (13:30)
Unemployment Rate (EU) (10:00)
UK ECONOMIC ANNOUNCEMENTS
Consumer Credit (09:30)
GFK Consumer Confidence (00:01)
M4 Money Supply (09:30)
FINALS
7Digital Group , Air Partner, Caffyns, FirstGroup, Fishing Republic , Johnson Matthey, TR Property Inv Trust
TRADING ANNOUNCEMENTS
Card Factory
SPECIAL EX-DIVIDEND DATE
Taylor Wimpey AGMS Brady, Card Factory, Destiny Pharma , e-Therapeutics, Faron Pharmaceuticals Oy (DI), Immedia Group, Kcell Joint Stock Co GDR (Reg S), LB-Shell, Northbridge Industrial Services, PJSC Acron GDR (REG S), Public Joint Stock Company Polyus (REG S) , Raven Russia Ltd, Sirius Minerals, Total Produce
INTERIM DIVIDEND PAYMENT DATE
BlackRock Greater Europe Inv Trust, Greencoat Renewables, PRS Reit (The) , Wetherspoon (J.D.)
INTERIM EX-DIVIDEND DATE
Blackrock Frontiers Investment Trust, Britvic, Cardiff Property, DFS Furniture, easyHotel, Elegant Hotels Group , GBGI Limited, Henderson European Focus Trust, Jersey Electricity 'A' Shares, On The Beach Group , Patisserie Holdings , Renew Holdings, SSP Group , UDG Healthcare Public Limited Company
QUARTERLY PAYMENT DATE
Anglo Pacific Group, City of London Inv Trust, Custodian Reit , Ediston Property Investment Company, Picton Property Income Ltd, TwentyFour Select Monthly Income Fund Limited
QUARTERLY EX-DIVIDEND DATE Albion Technology & General VCT, BlackRock World Mining Trust, SQN Asset Finance Income Fund Limited
FINAL DIVIDEND PAYMENT DATE
Belvoir Lettings, Cenkos Securities, Contour Global , Croda International, Diversified Gas & Oil, Elecosoft, Empresaria Group, Hastings Group Holdings , Lookers, NAHL Group, Senior, Smart Metering Systems, STV Group
FINAL EX-DIVIDEND DATE
Aberdeen New Thai Inv Trust, Andrews Sykes Group, Arrow Global Group, Burford Capital , Computacenter, Ferrexpo, Frenkel Topping Group, Gamma Communications, Good Energy Group, Great Portland Estates, Headlam Group, Hilton Food Group, Hydrogen Group, Ingenta, Keller Group, Keywords Studios, Marks & Spencer Group, Mckay Securities, Medica Group , Michelmersh Brick Holdings, National Grid, Pacific Assets Trust, Spire Healthcare Group, Staffline Group, STM Group, Tarsus Group, The City Pub Group , Xaar