Thursday preview: US GDP, Federal Reserve speakers

US gross domestic product growth in the second quarter is expected to be revised higher in the third and final estimate on Thursday.

Economists expect the Commerce Department to reveal GDP expanded an annualised 1.5% in the second quarter, compared its second estimate of 1.1%.

The economy grew 0.8% in the first quarter.

The second estimate of second quarter GDP had been revised slightly lower from the initial expectation of 1.2%, reflecting more imports than previously forecast and weak spending by state and local governments.

The US will also see the release of US personal consumption data while a batch of Federal Reserve officials are due to speak.

Philadelphia Fed President Patrick Harker will speak in Dublin in the morning while Atlanta Fed President Dennis Lockhart speaks at a forum in Florida, Fed governor Jerome Powell speaks on community banking St. Louis and Minneapolis Fed President Neel Kashkari speaks at the Town Hall in South Dakota later in the session.

Fed chair Janet Yellen also addresses a minority banking conference via video link, a day after her testimony before the House Financial Services Committee.

Any remarks on monetary policy will be carefully scrutinised in the wake of the Fed’s decision to keep interest rates unchanged. The Fed last Wednesday said inflation was on track to reach its 2% target and near-term risks were “balanced” but it would stand pat on interest rates until it sees further evidence of progress toward its objectives.

While the Fed cut its expectations for rate hikes this year from two to one, the US central bank signalled that the case for hike has strengthened.

Thursday September 29

INTERIMS
Air Partner, Harvey Nash Group, Northbridge Industrial Services, Porta Communications

INTERIM DIVIDEND PAYMENT DATE
Prudential, Reckitt Benckiser Group

INTERIM EX-DIVIDEND DATE
32Red, Advanced Medical Solutions Group, BrainJuicer Group, Capital & Regional, Essentra, Fairpoint Group, Flowtech Fluidpower, Foresight VCT Planned Exit Shares, Forterra, Huntsworth, Intertek Group, John Laing Group , JPMorgan Russian Securities, Lighthouse Group, Maintel Holdings, Maven Income & Growth 2 VCT, Morrison (Wm) Supermarkets, NAHL Group, Phoenix Spree Deutschland Limited SHS NPV , Puma Vct VII, SafeCharge International Group Limited (DI), Safestyle UK , Servelec Group , Smurfit Kappa Group, Soco International, Somero Enterprises Inc. (DI), STM Group, Wynnstay Group

QUARTERLY EX-DIVIDEND DATE
Funding Circle SME Income Fund, Real Estate Investors

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Trade (US) (13:30)
Business Climate Indicator (EU) (10:00)
Consumer Confidence (EU) (10:00)
Continuing Claims (US) (13:30)
Economic Sentiment Indicator (EU) (10:00)
Gross Domestic Product (US) (13:30)
Industrial Confidence (EU) (10:00)
Initial Jobless Claims (US) (13:30)
Pending Homes Sales (US) (15:00)
Personal Consumption Expenditures (US) (13:30)
Unemployment Rate (GER) (08:55)

GMS
Auto Trader Group , International Biotech Trust

FINALS
Vernalis plc

AGMS
Aurum Mining, Castleton Technology, Eckoh, Filtronic, Galileo Resources, Ilika, KSK Power Ventur, Mirada, Miton UK Microcap Trust, New World Oil And Gas, NWF Group

TRADING ANNOUNCEMENTS
Euromoney Institutional Investor, Merlin Entertainments

UK ECONOMIC ANNOUNCEMENTS
M4 Money Supply (09:30)
Mortgage Approvals (09:30)

FINAL DIVIDEND PAYMENT DATE
CMC Markets

FINAL EX-DIVIDEND DATE
Avation, Brooks Macdonald Group, Diverse Income Trust (The), Fulcrum Utility Services Ltd. (DI), Hansard Global, ICBC Standard Bank, IG Group Holdings, Kainos Group , Kier Group, Norish Units, Pembroke Vct, Pembroke Vct B, Smith (DS), United Carpets Group