Thursday preview: UK GDP, Burberry in focus

The market spotlight on Thursday will be on UK gross domestic product data covering the third quarter.

Consensus is for the rate of expansion to have cooled from the quarter-on-quarter clip of 5.5% observed over the three months ending in September to 1.5%.

Across the Channel meanwhile, the European Central Bank will release its latest monthly bulletin.

ECB chief economist is also scheduled to speak, at 1215 GMT, at a conference hosted by the ECB and the New York Fed on the topic of expectations surveys.

In the States, no major economic announcements are scheduled, while corporate and government bond markets will remain closed in observance of Veterans' Day.

For Burberry's first half numbers, UBS analyst Zuzanna Pusz anticipates that investor focus will be on current trading and retail like-for-likes - as usual - given that the fashion retailer is at an important stage of its turnaround story.

Sales trends in the US and China would likely drive investor sentiment, she added.

Investors were also likely to be keen for an explanation of the rationale behind the decision to switch chief executive officers.

Nonetheless, she said that her reverse discounted cash flow valuation suggested that the market was not pricing in success for Burberry in its turnaround efforts.

Instead, markets were discounting a low single digit rate of sales growth and terminal margin on an earnings before interest and taxes basis of below 20%.

Thursday 11 November

INTERIMS

Assura , Auto Trader Group , B&M European Value Retail S.A. (DI), Burberry Group, Great Eastern Energy Corp Ltd. GDR, Manolete Partners, Mediclinic International , Norcros, QinetiQ Group, Syncona Limited NPV, Volex

INTERIM DIVIDEND PAYMENT DATE

Plus500 Ltd (DI)

INTERIM EX-DIVIDEND DATE

Airtel Africa , Anpario, BlackRock Smaller Companies Trust, Braemar Shipping Services, Burford Capital NPV (DI), Coral Products, Empiric Student Property , Genel Energy, Sainsbury (J), VH Global Sustainable Energy Opportunities , Warpaint London

QUARTERLY PAYMENT DATE

British American Tobacco, Merchants Trust

QUARTERLY EX-DIVIDEND DATE

BMO Commercial Property Trust Limited, Custodian Reit , Honeywell International Inc., ICG Enterprise Trust, Octopus Renewables Infrastructure Trust , Royal Dutch Shell 'A', Royal Dutch Shell 'B', The Renewables Infrastructure Group Limited

Q3

Bank of Georgia Group, Telecom Egypt SAE GDS (Regs)

SPECIAL EX-DIVIDEND DATE

Softcat, Thinksmart Limited (DI)

AGMS

Fonix Mobile

TRADING ANNOUNCEMENTS

Taylor Wimpey

UK ECONOMIC ANNOUNCEMENTS

Balance of Trade (07:00)

GDP (Preliminary) (07:00)

Gross Domestic Product (07:00)

Index of Services (07:00)

Industrial Production (07:00)

Manufacturing Production (07:00)

RICS Housing Market Survey (00:01)

FINAL DIVIDEND PAYMENT DATE

Hansard Global

FINAL EX-DIVIDEND DATE

Baillie Gifford Japan Trust, Coral Products, Croma Security Solutions Group, Fidelity Emerging Markets Limited Ptg NPV, Galliford Try, Gattaca, SCS Group , Softcat