Friday preview: US retail sales, eurozone GDP

Economic data dominates Friday’s agenda with the release of eurozone gross domestic product and US retail sales in focus.

The second estimate of second quarter eurozone GDP is expected to be confirmed at growth of 0.3% quarter-on-quarter and 1.6% year-on-year.

GDP rose 0.6% in the first three months of the year, compared to the previous quarter, and climbed 1.7% compared to the same period a year ago.

The European Central Bank has cut interest rates to record lows and expanded its asset purchase programme to try to turn the eurozone economy around but the UK’s vote to leave the European Union has put a spanner in the works. The ECB is now widely expected to extend its asset purchase programme at next month’s meeting.

Meanwhile, US retail sales figures will be closely eyed on Friday as the Federal Reserve considers its next move on interest rates. Analysts estimate sales rose 0.4% in July, compared to 0.6% in June.

“Gasoline prices declined in July, and this likely depressed the nominal value of sales at gasoline stations,” HSBC analysts said.

“But we expect that most other categories saw increased sales in July.”

The US also sees the release of the University of Michigan’s consumer confidence index which is expected to rise to 91.5 in August from 90 in July.

Elsewhere, Chinse industrial and retail sales data is due along with German GDP and inflation, eurozone industrial production and UK construction output figures.

Friday 12 August

INTERIMS
FBD Holdings

INTERIM DIVIDEND PAYMENT DATE
Safestore Holdings, Secure Income Reit

QUARTERLY PAYMENT DATE
Merchants Trust

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Business Inventories (US) (15:00)
Consumer Price Index (GER) (07:00)
Industrial Production (EU) (10:00)
Producer Price Index (US) (13:30)
Retail Sales (US) (13:30)
Retail Sales Less Autos (US) (13:30)
U. of Michigan Confidence (Prelim) (US) (15:00)

ANNUAL REPORT
Dart Group

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PPHE Hotel Group Ltd

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Central Rand Gold Ltd, China Nonferrous Gold Limited (DI), iEnergizer Ltd., Taihua

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Volution Group (WI)

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Amati VCT , Aquatic Foods Group , Babcock International Group, Cropper (James), D4T4 Solutions, Downing One VCT , F&C Global Smaller Companies, Invesco Asia Trust, Martin Currie Asia Unconstrained Trust , SABMiller, Speedy Hire, Vedanta Resources, Walker Crips Group