Thursday preview: BoE rate decision, BAE Systems in focus

31st Jul 2024 12:07

(Sharecast News) - Investors' focus on Thursday will be squarely on an anticipated interest rate reduction by the Bank of England.

Consensus is that Bank Rate will be pared by 25 basis points to 5.0%.

However, just five of the Monetary Policy Committee's nine members are expected to have voted for such a move.

Stateside meanwhile, the Institute for Supply Management will publish its closely-followed services sector purchasing managers' index for July.

Also due out in the US are weekly jobless claims figures and quarterly labour productivity and unit cost data for the second quarter.

Across the Channel, in the euro area, and overnight in China, investors will be reacting to similar factory PMI results.

Still on home shores, Nationwide's house price index for July is due out at 0600 BST.

It will be followed by S&P Global's manufacturing sector PMI at 0930 BST.

On the company side of things, BAE Systems was to update investors on its first half results.

UBS analyst Ian Douglas-Pennant was anticipating that the defence engineering group would report a nearly 9% rise in revenues to reach £13.05bn.

Operating profit on a before interest and tax basis was seen jumping 13% to £1.42bn, for earnings per share of 31.18p.

The analyst further pointed out that he did not think that the consensus was anticipating an upgrade to revenue growth any longer - although one would be welcome.

Thursday 01 August

INTERIMS

BAE Systems, Coats Group, Elementis, London Stock Exchange Group, London Stock Exchange Group, London Stock Exchange Group, London Stock Exchange Group, London Stock Exchange Group, Mondi, Nova Ljubljanska Banka D.D., Ljubljana GDR (Reg S), Robert Walters, Rolls-Royce Holdings, Schroders, Vanquis Banking Group 20, Vesuvius

INTERIM DIVIDEND PAYMENT DATE

Merchants Trust 3.65% Cumulative Preference 1, WH Smith, Witan Investment Trust Plc

INTERIM EX-DIVIDEND DATE

Aptitude Software Group , Bellevue Healthcare Trust (Red), Blackrock Throgmorton Trust, Lloyds Banking Group, Mony Group, Nichols, Reckitt Benckiser Group, Relx plc

QUARTERLY PAYMENT DATE

Mercantile Investment Trust (The)

QUARTERLY EX-DIVIDEND DATE

Brunner Inv Trust, Greencoat Renewables (CDI)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Auto Sales (US) (20:30)

Construction Spending (US) (15:00)

Continuing Claims (US) (13:30)

Initial Jobless Claims (US) (13:30)

ISM Manufacturing (US) (15:00)

ISM Prices Paid (US) (15:00)

PMI Manufacturing (GER) (08:55)

PMI Manufacturing (EU) (09:00)

PMI Manufacturing (US) (14:45)

Unemployment Rate (EU) (10:00)

Q2

Shell , Smith & Nephew

SPECIAL DIVIDEND PAYMENT DATE

Manchester & London Investment Trust

SPECIAL EX-DIVIDEND DATE

CQS Natural Resources Growth and Income , Downing Strategic Micro-Cap Investment Trust Red, Latham (James), Nichols

AGMS

African Pioneer NPV, Duke Capital Limited, Kendrick Resources, PayPoint, Sequoia Economic Infrastructure Income Fund Limited , Tiger Royalties and Investments, Ukrproduct Group Ltd, Ukrproduct Group Ltd, Ukrproduct Group Ltd, Volex

TRADING ANNOUNCEMENTS

NCC Group, Next, Next

UK ECONOMIC ANNOUNCEMENTS

BoE Interest Rate Decision (12:00)

PMI Manufacturing (09:30)

FINAL DIVIDEND PAYMENT DATE

Caledonia Investments, Next, TR Property Inv Trust, United Utilities Group

FINAL EX-DIVIDEND DATE

CML Microsystems, Latham (James), Telecom Plus, Triad Group

Q1

Wizz Air Holdings