Thursday preview: US ISM services PMI, Ted Baker in the spotlight

The spotlight on Thursday will shift towards the latest services sectors Purchasing Managers Indices on both sides of the Atlantic, with investors likely keen to assess to what extent economic weakness in manufacturing might be filtering into the remainder of the economy, whether in the US or in the euro area.

In the States, the Institute for Supply Management's services PMI is only expected to dip from a reading of 56.4 for August to 55.0 in September.

Nonetheless, if those analysts who are anticipating a slowdown in hiring by as soon as year-end 2019 are proven correct, then the risks to consumer confidence and spending would appear to be clear.

Across the Channel meanwhile, IHS Markit's services PMI for the euro area is expected to have held steady at August's level of 52.0, while in the UK, consensus is forecasting a further dip from 50.6 to 50.3.

Against that backdrop, Ted Baker is the main UK corporate that is set to publish results.

For Michael Hewson, chief market analyst at CMC Markets UK, despite the luxury fashion retailer's travails "there comes a time when investors start to ask how much bad news is priced in already."

Hewson points out the "positive longer term deals" inked over he past few months which, he said, over the longer-term "ought to be revenue accretive".

In April Ted Baker announced a joint venture with Shanghai LongShang Trading company, which is expected to enhance the Ted Baker brand into mainland China, Hong Kong and Macau and open up retail concessions as well as an online presence into what is likely to be one its biggest markets for years to come," Hewson explains.

And more recently, in August, the retailer announced a five-year partnership with Sojitz Infinity, which the analyst said was also expected to offer similar positive benefits.

Thursday October 03

INTERIMS

Ted Baker

INTERIM DIVIDEND PAYMENT DATE

Globaldata, Greggs, InterContinental Hotels Group

INTERIM EX-DIVIDEND DATE

AA , Anglo Asian Mining, Applegreen, Arena Events Group , Braime Group, Cello Health, Cenkos Securities, Central Asia Metals, Elecosoft, Fisher (James) & Sons, Flowtech Fluidpower, Hastings Group Holdings , Hunting, Johnson Service Group, Judges Scientific, Kaz Minerals , Keystone Law Group , Keywords Studios, Kingfisher, Mears Group, Mortgage Advice Bureau (Holdings) , Octagonal, Origo Partners , RBG Holdings, Restore, Rightmove, Rockrose Energy, SIG, Smith & Nephew, StatPro Group, Synthomer, Taylor Wimpey, TP ICAP, Travis Perkins, WPP, XLMedia

QUARTERLY EX-DIVIDEND DATE

Anglo Pacific Group, BMO Private Equity Trust, BMO UK High Income Trust , British American Tobacco, British Land Company, Merchants Trust, Scottish Inv Trust, Yew Grove Reit

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Continuing Claims (US) (13:30)

Factory Orders (US) (15:00)

Initial Jobless Claims (US) (13:30)

ISM Non-Manufacturing (US) (15:00)

PMI Composite (EU) (09:00)

PMI Composite (GER) (08:55)

PMI Composite (US) (14:45)

PMI Services (EU) (09:00)

PMI Services (GER) (08:51)

PMI Services (US) (14:45)

Producer Price Index (EU) (10:00)

Retail Sales (EU) (10:00)

FINALS

Genedrive

SPECIAL DIVIDEND PAYMENT DATE

Greggs

SPECIAL EX-DIVIDEND DATE

Bluefield Solar Income Fund Limited, Hays, Keystone Law Group

AGMS

Arcontech Group, Photo-Me International, Purplebricks Group

UK ECONOMIC ANNOUNCEMENTS

PMI Services (09:30)

FINAL DIVIDEND PAYMENT DATE

Diageo, PZ Cussons

FINAL EX-DIVIDEND DATE

Abbey, Avation, Daejan Holdings, Fulcrum Utility Services Ltd. (DI), Hansard Global, Hays, HML Holdings, K3 Capital Group , Mid Wynd International Inv Trust, Redde, Smith (DS), Standard Life UK Smaller Companies Trust, Tricorn Group