Friday preview: Global factory PMIs, Rightmove in focus

29th Feb 2024 09:15

(Sharecast News) - All eyes at the end of the week will be on a raft of factory sector survey results for the month of February due out across the world.

First out overnight will be Caixin's Chinese manufacturing sector Purchasing Managers' Index.

It will be followed early during the London session by final readings for S&P Global's comparable factory PMIs for the euro area and UK referencing the same month.

Later in the session, at 1500 GMT, America's ISM Institute will release its own factory PMI.

In parallel, the University of Michigan will release the final results for its February consumer confidence index.

Investors will also be keeping close tabs on what another batch of top Fed officials might have to say in speeches starting from 1515 GMT.

Investors in the euro area will also be keeping an eye out for a preliminary reading for consumer price inflation in the bloc due out at 1000 GMT.

Rightmove is among the corporate names due to update shareholders on Friday.

The real estate property website owner is expected to report a 9.1% jump in its top-line to reach £362.9m.

Underlying operating profits meanwhile are seen climbing 7.9% to reach £265m.

According to UBS analyst Jo Barnet-Lamb, investor focus will be on the company's 2024 guidance and what it might have to say about progress on adjacencies, which the broker believed was a focus area for the company.