Thursday preview: UK jobs, Asos in the spotlight

Investors' focus on Thursday will be on the latest UK jobs data which according to some economists might surprise to the upside, even if only on account of methodological changes.

At 0700 BST, the Office for National Statistics is due to publish the UK May employment report.

Economists' forecasts are calling for the unemployment rate to have remained at 4.7% over the three months to May.

The annual rate of increase in average weekly earnings on the other hand is expected to have accelerated from 5.6% to 7.1%.

"Only over the summer, as the furlough scheme is tapered off, should we see unemployment grind higher over time," said economists at Barclays Research.

"Risk are however to the upside as the ONS will introduce a new methodology leading to lower employment rates and slightly higher unemployment rates."

Against that backdrop, a slew of economic data are scheduled for release in the US, including the latest weekly jobless claims figures and the Philly Fed manufacturing index.

Both US indicators are to be published at 1330 BST.

Across the Channel meanwhile, European Central Bank governing council member, Frank Elderson, is due to deliver a speech at 0900 BST.

A batch of Italian economic data is also due out, referencing consumer prices in June and general government debt in May.

On the corporate side of things meanwhile, investors will be sifting through Asos's third quarter update.

According to Michael Hewson, chief market analyst at CMC Markets UK, trading at the online fashion retailer likely continued to be impacted by the reopening of the UK economy and improved weather.

"Part of the reason for the lack of upside [in the share price] could well be down to the fact that most of its business is online and with the UK economy on a reopening trajectory more people are likely to be keen to go out and shop having spent all the winter indoors," Hewson said in a note sent to clients.

"This may well affect trading for Q3 although management remained confident that despite the easing of restrictions full year forecasts were still in line with expectations."

Thursday 15 July

INTERIM DIVIDEND PAYMENT DATE

Renew Holdings, Witan Investment Trust Plc

INTERIM EX-DIVIDEND DATE

Character Group, Leeds Building Society 13 3/8% Bearing Shares, Triple Point Income VCT C, Triple Point Income VCT D, Triple Point Income VCT E, Triple Point VCT 2011 Venture, Unicorn AIM VCT

QUARTERLY PAYMENT DATE

Aberdeen Diversified Income and Growth Trust

QUARTERLY EX-DIVIDEND DATE

Ediston Property Investment Company, Merchants Trust, Supermarket Income Reit, TwentyFour Select Monthly Income Fund Limited

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Capacity Utilisation (US) (14:15)

Consumer Price Index (GER) (07:00)

Continuing Claims (US) (13:30)

Import and Export Price Indices (US) (13:30)

Industrial Production (US) (13:30)

Initial Jobless Claims (US) (13:30)

Philadelphia Fed Index (US) (13:30)

Producer Price Index (US) (13:30)

Wholesale Price Index (GER) (07:00)

GMS

Dukemount Capital

FINALS

Gore Street Energy Storage Fund , Polar Capital Technology Trust, Redcentric

SPECIAL EX-DIVIDEND DATE

I3 Energy

AGMS

Airtel Africa , BT Group, Distil, Electrocomponents, French Connection Group, Helical, Mind Gym, Renewi , Starcom, Water Intelligence

TRADING ANNOUNCEMENTS

Costain Group, Experian, Galliford Try, Hays, Johnson Service Group

UK ECONOMIC ANNOUNCEMENTS

Claimant Count Rate (07:00)

Unemployment Rate (07:00)

FINAL DIVIDEND PAYMENT DATE

Air Partner, Templeton Emerging Markets Inv Trust

FINAL EX-DIVIDEND DATE

Anpario, Aquila Services Group, Baillie Gifford UK Growth Trust, BMO Global Smaller Companies, Cake Box Holdings, Circle Property , Elixirr International , Heath (Samuel) & Sons, Manx Financial Group, MS International, Riverfort Global Opportunities , Steppe Cement Ltd, Volex