Friday preview: US, euro area inflation data in focus

All eyes at the end of the week will be on the latest inflation data out of the States, not least given the ongoing grind higher in government bond yields.

That is because a chief contributor to the latter has been what some market commentary has described as an apparent lack of progress in returning inflation back down towards the Federal Reserve's 2.0% target.

The year-on-year rate of increase in the headline Consumer Price Index fell to 3.0% in June 2023, having peaked at 9.1% 12 months earlier, but was at 3.4% last April.

However, the Fed's preferred inflation gauge, the price deflator for personal consumption expenditures, or PCE, had continued to drift gradually lower, slowing to 2.8% in March.

Consensus was that core PCE prices were steady in April, in annual terms, at 2.8%, although but some economists were forecasting that they would tick lower again, to 2.7%.

Inflation would also be in focus on the other side of the Atlantic, in the single currency bloc.

At 0900 BST Eurostat was expected to announce that headline CPI edged up from a year-on-year rate of 2.7% for April to 2.8% in May.

Also due out, at 0600 BST, were German import price and retail sales figures for April.

On home shores, at 0600 BST Nationwide was scheduled to release its house price survey results for May, followed consumer credit data out of ONS at 0830 BST.

Friday 31 May

INTERIM DIVIDEND PAYMENT DATE

Kier Group, Mobeus Income & Growth Vct, Natwest Group 11% Cum Non-Red Prf Gbp1 , Natwest Group 5.5% Cum Non-Red Prf Gbp1

QUARTERLY PAYMENT DATE

City of London Inv Trust, Custodian Property Income Reit, Octopus Renewables Infrastructure Trust , Picton Property Income Ltd, TwentyFour Select Monthly Income Fund Limited

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Chicago PMI (US) (14:45)

Import Price Index (GER) (07:00)

Personal Consumption Expenditures (US) (13:30)

Retail Sales (GER) (07:00)

Unemployment Rate (GER) (08:55)

GMS

Genedrive

FINALS

CMO Group

SPECIAL DIVIDEND PAYMENT DATE

Custodian Property Income Reit

AGMS

Afarak Group SE (DI), Alba Mineral Resources, Barr (A.G.), Dianomi , Frenkel Topping Group, Hon Hai Precision Industry Co. Ltd. GDR (Reg S), Light Science Technologies Holdings, NB Global Monthly Income Fund Limited Red Ord Shs NPV £, Old Mutual Limited NPV (DI), Pulsar Group

UK ECONOMIC ANNOUNCEMENTS

Consumer Credit (09:30)

M4 Money Supply (09:30)

Mortgage Approvals (09:30)

FINAL DIVIDEND PAYMENT DATE

Arbuthnot Banking Group, Bellevue Healthcare Trust (Red), CVC Income & Growth Limited NPV Euro, CVC Income & Growth Limited NPV GBP, Derwent London, Dunedin Income Growth Inv Trust, Elementis, Global Opportunities Trust, Henry Boot, Ibstock , IWG , JPMorgan American Inv Trust, LLoyds Banking Group 9.25% Non-Cum Irredeemable Pref Shares, LLoyds Banking Group 9.75% Non-Cum Irredeemable Pref Shares, Portmeirion Group, PPHE Hotel Group Ltd, Reach, Robert Walters, Senior, Shaftesbury Capital, STV Group, Vesuvius, Weir Group

Q1

Nostrum Oil & Gas