Thursday preview: Eurozone inflation expected to slow

Economic data is once again likely to dominate newsflow on Thursday with a host of indicators expected from Europe and the US.

The Eurozone flash consumer price index (CPI) for August is expected to show that annual price growth slowed to 5.1% from 5.3% in July.

However, analyst Michael Hewson from CMC Markets said markets will likely not read too much into July’s figures and what they mean for future policy decisions by the European Central Bank.

“This week’s August CPI may well not be the best guide for further weakness in price trends given that Europe tends to vacation during August, however concerns are increasing that the ECB is going too fast and a pause might be a useful exercise,” he said.

The Eurozone unemployment rate is also due out, but is forecast to remain unchanged at 6.4% for July.

In the US, consumer income and spending stats are expected to show an improvement for July, with incomes seen up 0.3% (June: +0.3%) and spending up 0.7% (June: +0.5%).

US weekly jobless claims, meanwhile, are forecast to have risen to 235,000 last week up from 230,000 the week before.

Back on home shores, Nationwide’s home price index will be released and will make for interesting reading given the long-term path for mortgage rates continues to stay elevated.

Nationwide’s last release showed that house prices fell 0.2% in July, while annual house price growth fell to -3.8% – the lowest reading since July 2009.

On the company front in London, no blue-chip companies are on the agenda to report results, but a number of heavyweight stocks will be trading ex-dividend and likely providing a drag on markets. These include InterContinental Hotels, Centamin, Antofagasta, Endeavour Mining, PageGroup and Glencore.

Thursday 31 August

FINALS

Revolution Beauty Group, Oxford Cannabinoid Technologies Holdings

INTERIMS

Grafton Group Ut (CDI), Gem Diamonds Ltd. (DI), PensionBee Group, PPHE Hotel Group Ltd, BBGI Global Infrastructure S.A. NPV (DI)

TRADING ANNOUNCEMENTS

Kainos Group

AGMs

Global Ports Holding, Carclo, Watches of Switzerland Group, Ajax Resources, Triple Point Energy Transition

EGMs

Cairn Homes (CDI)

FINAL EX-DIVIDEND DATE

Knights Group Holdings, STM Group, Supreme, Thames Ventures Vct 2 Ventures, Thames Ventures Vct 2 Healthcare, Redde Northgate

INTERIM EX-DIVIDEND DATE

Clarkson, Pagegroup, Utilico Emerging Markets Ltd (DI), Secure Trust Bank, Capital & Regional, Genuit Group, Tclarke, Centamin (DI), International Personal Finance, Jlen Environmental Assets Group Limited NPV, Alliance Trust, Abrdn Equity Income Trust, Henderson Diversified Income Ltd., Endeavour Mining, Croda International, InterContinental Hotels Group, LondonMetric Property, Woodside Energy Group Ltd NPV (DI), JPMorgan American Inv Trust, Savills, Capital Limited (DI), JPMorgan Global Growth & Income, Glencore, Abrdn European Logistics Income, Antofagasta, Robert Walters, Quilter

INTERIM DIVIDEND PAYMENT DATE

CQS Natural Resources Growth and Income, Polar Capital Global Financials Trust, UK Commercial Property Reit Limited, Tritax Big Box Reit, CQS New City High Yield Fund Limited, Abrdn Property Income Trust Limited, Albion Enterprise VCT, Ediston Property Investment Company, NB Private Equity Partners Ltd., Aew UK Reit, Polar Capital Global Healthcare Trust, Ecofin Global Utilities and Infrastructure Trust, Diverse Income Trust (The), EJF Investments Ltd NPV, Bankers Inv Trust, Balanced Commercial Property Trust Limited, Henderson International Income Trust, Aberforth Split Level Income Trust

SPECIAL EX-DIVIDEND DATE

Pagegroup, Glencore

QUARTERLY EX-DIVIDEND DATE

Downing Renewables & Infrastructure Trust, Diversified Energy Company, Premier Miton Global Renewables Trust

QUARTERLY PAYMENT DATE

Picton Property Income Ltd, City of London Inv Trust, Custodian Property Income Reit, Unilever

UK ECONOMIC ANNOUNCEMENTS

Nationwide House Price Index (07:00)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Import Price Index (GER) (07:00)

Retail Sales (GER) (07:00)

Unemployment Rate (GER) (08:55)

Harmonised Index of Consumer Prices (EU) (10:00)

Unemployment Rate (EU) (10:00)

Continuing Claims (US) (13:30)

Personal Consumption Expenditures (US) (13:30)

Initial Jobless Claims (US) (13:30)

Personal Income (US) (13:30)

Personal Spending (US) (13:30)

Chicago PMI (US) (14:45)