Monday 14 August
- Trading statement from Lok’nStore
- German wholesale price inflation
- In Japan, quarterly results from Dentsu
- In Asia, quarterly results from Hon Hai Precision
Tuesday 15 August
- First-half results from Just Group and 888
- Japanese Q2 GDP growth
- UK wage growth
- Legal & General first-half results
Wealth manager L&G will release its half-year results on Tuesday.
In the first six months of last year, L&G made £1.4bn operating profit, which AJ Bell investment director Russ Mould and head of financial analysis Danni Hewson describe as the “benchmark” for its upcoming first-half results.
They said: “Shares in the life insurance, pensions and investment giant have not done much over the past year, falling by some 15%, despite the ambitious five-year capital generation and earnings growth plan laid out by chief executive Sir Nigel Wilson and the board for 2020 to 2024.
“Sir Nigel steps down at the end of this year, before the end of the five-year spell, but he will presumably be looking to go out on a high after almost twelve years in charge and these interim results will be initially benchmarked against the 2020-24 plan.
“Remember that its key tenets are: Capital generation of £8bn to £9bn; dividend per share growth of 3% to 6% per year; growth in earnings per share, or EPS, to exceed growth in the dividend.”
- German ZEW economic sentiment survey
- US retail sales
- US NAHB housebuilding sentiment survey
- US mortgage delinquencies
- In Asia, quarterly results from Sea and Tencent Music
- In Europe, quarterly results from Pandora and SeaDrill
- In the US, quarterly results from Home Depot and Agilent
Wednesday 16 August
- First-half results from Aviva, Essentra, Balfour Beatty and Restore
- UK Consumer Price Inflation (CPI) data
In a week of economic data releases from the Office for National Statistics, Wednesday will see the announcement of the UK’s latest CPI print.
Back in June, inflation slowed to 7.9% from the previous month’s 8.7%.
Tomasz Wieladek, chief European economist at T. Rowe Price, said: “Headline CPI inflation will likely come down, but given the recent volatility in UK CPI inflation data, it is very hard to predict core CPI inflation data with any degree of confidence. It could surprise expectations and the Bank of England to the upside or downside.
“However, I believe that wage growth data for June will surprise the Bank of England to the upside next week. In its monetary policy report, the Bank of England said it expects regular pay growth to decelerate from 7.7% on the three month year-on-year measure in May to 7.6% in June.”
- Interest rate decision from the Reserve Bank of New Zealand
- US new building permits
- US new housing starts
- US industrial production and capacity utilisation rate
- US oil inventories
- In Asia, quarterly results from Tencent, JD.com, Hong Kong Exchanges and Hyundai Motor
- In Europe, quarterly results from Carlsberg
- In the US, quarterly results from Cisco, Target and Wolfspeed
Thursday 17 August
- Full-year results from Rank
- First-half results from Hochschild Mining
- US weekly initial unemployment claims
- In Australia, quarterly results from Telstra
- In Asia, quarterly resultsfrom Lenovo
- In Europe, quarterly results from Coloplast
- In the US, quarterly results from Wal-Mart, Applied Materials and Tapestry
Friday 18 August
- First-half results from Capital and Kingspan
- UK retail sales figures
- Japanese inflation
- EU inflation
- In the US, quarterly results from John Deere, Palo Alto Networks and Estee Lauder
