Thursday preview: UK PMIs, Homeserve in the spotlight

The focus on Thursday will remain firmly on the UK where two closely-followed surveys are expected to show a substantial slowdown in the pace of economic contraction, although both should remain well in recession territory.

Survey compiler IHS Markit is due to release its manufacturing and services sector Purchasing Managers Indices at 0930 GMT.

Economists anticipate an improvement in the former from April's level of 32.6 to 40.0 in May and from 13.4 to 35.0 in the latter.

Key activity indicators are also due out in the States, with a reading on initial weekly jobless claims and the Philly Fed factory sector index referencing the month of May both scheduled for release.

In Asia-Pacific meanwhile, South Korean export figures for May are due out, alongside foreign trade in Japan for April.

No major economic reports are due out in the euro area.

Homeserve is among the corporate names that is due to update financial markets on Thursday.

UBS analyst Nicole Manion expects the home emergency repairs and improvement outfit's full-year earnings will confirm a strond end to the year.

Profit before tax and amortisation meanwhile is seen coming in at £180.8m (consensus: £179m), for earnings per share of 42.5p (consensus: 41.4p) and sales of £1,142m.

And given the pandemic, investors will be paying especial attention to the firm's outlook.

In particular, the analyst was looking for an update on the company's ability to retain policies post year-end, in April and May.

At its more cyclical Home Experts unit, the focus would be on the impact of the 50% membership discount rolled out in April and May at Checkatrade, with March having seen 39,000 active trades.

Thursday 21 May

INTERIMS

Euromoney Institutional Investor, IntegraFin Holding, Oxford Metrics

INTERIM EX-DIVIDEND DATE

Aurora Investment Trust, Brewin Dolphin Holdings, Ecclesiastical Insurance 8.625% Non-Cum Irr Pref Shares, Mobeus Income & Growth 2 Vct, Numis Corporation, Sage Group

QUARTERLY PAYMENT DATE

M Winkworth

QUARTERLY EX-DIVIDEND DATE

Blackrock North American Income Trust , NextEnergy Solar Fund Limited Red, Pershing Square Holdings Ltd NPV, TwentyFour Select Monthly Income Fund Limited , Volta Finance Limited, Volta Finance Limited NPV (GBP)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Continuing Claims (US) (13:30)

Initial Jobless Claims (US) (13:30)

GMS

Aura Energy Limited NPV (DI), Jupiter Fund Management

FINALS

Mediclinic International , Pets at Home Group , System1 Group, Tate & Lyle, Universe Group

ANNUAL REPORT

Sumo Group

AGMS

Avast, Belvoir Group, Bigblu Broadband , Catco Reinsurance Opportunities Fund Ltd (DI), Central Asia Metals, Dunedin Income Growth Inv Trust, Dunedin Income Growth Inv Trust, Energean Oil & Gas , EnQuest, Essentra, GCP Asset Backed Income Fund Limited, Hastings Group Holdings , Henry Boot, Henry Boot, Henry Boot, Hilton Food Group, Hochschild Mining, Hochschild Mining, Ibstock , Impax Environmental Markets, Inchcape, Intertek Group, Jupiter Fund Management , Kape Technologies, Legal & General Group, Lloyds Banking Group, Marshall Motor Holdings, Maven Income & Growth 4 VCT, Polypipe Group , Regional REIT Limited, Resolute Mining Limited NPV (DI), Restore, Riverstone Credit Opportunities Income, Secure Income Reit , Yu Group

TRADING ANNOUNCEMENTS

Essentra, Intertek Group, Kingfisher, Regional REIT Limited

FINAL DIVIDEND PAYMENT DATE

Gresham Technologies

FINAL EX-DIVIDEND DATE

Avast, Intertek Group, Morrison (Wm) Supermarkets, Tesco, Weiss Korea Opportunity Fund Ltd