Friday preview: US jobs data, Bellway in the spotlight

The market spotlight at the end of the week will be firmly on the latest monthly US jobs data, which may help to put a floor under growth forecasts for 2020.

Economists at Morgan Stanley were anticipating a 155,000 increase in non-farm payrolls for January, alongside a 0.3% month-on-month jump in average hourly earnings.

But following the latest private sector payrolls data from consultancy ADP, some analysts had bumped up their forecast for payrolls to 200,000.

To take note of as well, according to Morgan Stanley, the annual benchmark revisions were likely to result in a 42,000 person decline in the average monthly pace of job gains for 2019 to approximately 210,000.

The jobs data is due out at 1330 GMT, followed by the Federal Reserve's semi-annual report to Congress at 1600 GMT.

Back on home turf, mortgage lender Halifax is scheduled to release its monthly House Price Index for January at 0830 GMT.

That will be preceded overnight by the Recruitment and Employment Confederation's Permanent Staff Placements and Salaries indices for January.

Across the Channel meanwhile, reports on industrial production in France, Germany and Spain are expected.

Among the few corporate updates expected at the end of the week is one from homebuilder Bellway.

UBS's Anastasia Solonitsyna is anticipating a 2.5% rise in completions for over the first half to reach 5,134 units, but alongside a 2.0% dip in average selling prices to £288,000.

Housing revenues are therefore seen up by 0.6% to £1,480m and pre-tax profits 6.1% lower to £285.0m.

In particular, Solonitsyna was looking for greater detail on the builder's outlook for operating margins in 2020, with her own estimate being for a 150 basis point decline to 19.5%.

Friday 07 February

INTERIM DIVIDEND PAYMENT DATE

Aveva Group, QinetiQ Group, Vodafone Group

QUARTERLY PAYMENT DATE

BMO UK High Income Trust , British Land Company, Supermarket Income Reit

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Balance of Trade (GER) (07:00)

Current Account (GER) (07:00)

Industrial Production (GER) (07:00)

Non-Farm Payrolls (US) (13:30)

Unemployment Rate (US) (13:30)

Wholesales Inventories (US) (15:00)

SPECIAL DIVIDEND PAYMENT DATE

BMO UK High Income Trust B Shares

AGMS

Autins Group, Brewin Dolphin Holdings, Cerillion

UK ECONOMIC ANNOUNCEMENTS

Halifax House Price Index (08:30)

FINAL DIVIDEND PAYMENT DATE

Blackrock Frontiers Investment Trust, Countryside Properties, Daily Mail and General Trust A (Non.V), Henderson European Focus Trust, Numis Corporation, Sherborne Investors (Guernsey) 'B' Limited, Zytronic