Thursday preview: Weekly US jobless claims, Beazley in focus

7th Aug 2024 13:50

(Sharecast News) - The economic calendar on Thursday will be very light.

However, the latest weekly unemployment claims data due out in the US may receive even more attention than usual in the wake of the soft July non-farm payrolls report published two days before.

Consensus is for a decline from the 249,000 initial jobless claims seen during the week before to 240,000 over the seven day stretch that ended on 3 August.

"With hardly any data coming in today, markets only have the jobless claims to gaze at," analysts at Rabobank said.

"However, after last Friday's weak labour report that indicated a cooling labour market, markets are likely to look for signs of further weakening. As such, while jobless claims usually do not have the potential to really move markets, higher than expected (continuing) jobless claims could spark renewed fears of a hard landing. With that in mind a lack of data for today does not necessarily imply a dull trading day."

Also scheduled, for 1530 BST and 1730 BST, were US Treasury auctions for four-week bills and 30-year bonds, respectively.

In company news, Beazley will update investors will release its first half results.

UBS analyst Will Hardcastle was anticipating interim profit before tax of $454m, putting him 8% ahead of the consensus.

The headline combined operating ratio for the half was pegged at 81.2% or 20 basis points ahead of the consensus.

Thursday 08 August

INTERIMS

Beazley, Derwent London, Entain, Harbour Energy , Helios Towers , Hikma Pharmaceuticals, Hostelworld Group , Impact Healthcare Reit , IRISH RESIDENTIAL PROPERTIES REIT P IRISH RESIDENTIAL PROPERTIES ORD SHS, Lancashire Holdings Limited, Lancashire Holdings Limited, Mears Group, Serco Group, Serco Group, Spirax Group, TI Fluid Systems, TT Electronics

INTERIM DIVIDEND PAYMENT DATE

Safestore Holdings

INTERIM EX-DIVIDEND DATE

Aberforth Smaller Companies Trust, Avon Protection, Baronsmead Second Venture Trust, Baronsmead Venture Trust, Foxtons Group , Fresnillo, IMI, Inchcape, Informa, Jupiter Fund Management , Man Group, Maven Income & Growth 3 VCT, Maven Income and Growth VCT 5, Melrose Industries, NATWEST GROUP, Pearson, Rentokil Initial, SEGRO, Standard Chartered, Taylor Maritime Investments Limited NPV, Vesuvius

QUARTERLY EX-DIVIDEND DATE

BP, Chenavari Toro Income Fund Limited NPV, Picton Property Income Ltd, Unilever

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Continuing Claims (US) (13:30)

Initial Jobless Claims (US) (13:30)

Wholesales Inventories (US) (15:00)

Q2

Allianz Technology Trust

GMS

Arecor Therapeutics

FINALS

Burford Capital NPV (DI)

AGMS

Harvest Minerals Limited (DI), Marks Electrical Group, Oracle Power , TwentyFour Select Monthly Income Fund Limited

UK ECONOMIC ANNOUNCEMENTS

RICS Housing Market Survey (00:01)

FINAL DIVIDEND PAYMENT DATE

Ninety One

FINAL EX-DIVIDEND DATE

Ashtead Group, BT Group, Calculus VCT , Creightons, CVC Income & Growth Limited NPV Euro, CVC Income & Growth Limited NPV GBP, Halfords Group, Lindsell Train Inv Trust, Monks Inv Trust, National World , Renold, Rockwood Strategic, Speedy Hire