Thursday preview: US producer prices, J.P.Morgan in focus

All eyes on Thursday will continue to be on the US inflation picture as the Department of Labor releases wholesale price data for June.

Consensus is for a decline in the annual rate of producer prices from the 10.8% seen in May to 10.4% last month.

Following the previous day's worse than expected on consumer prices for the same month, investors and policymakers would likely be relieved not to see a repeat in the PPI numbers.

Also due out are the latest weekly initial unemployment claims figures.

On home shores, overnight the Royal Institute of Chartered Surveyors will publish its house price balance, also for the month of June.

Over on the Continent meanwhile, the data calendar will again be quite light with only consumer price data for June due out in Finland, Ireland and Sweden.

On the corporate side of things, the US second quarter earnings season will get into full swing with an update out of banking giant J.P.Morgan.

Michael Hewson, chief market analyst at CMC Markets UK, thinks expenses will be a "major theme" due to cost of retaining staff.

Furthermore, with the country's Consumer Price Index now much higher than during the preceding quarter, further loan loss provisions on accounting of rising inflation risks were a possibility.

Consensus was for quarterly earnings per share of $2.88.

Thursday 14 July

INTERIM EX-DIVIDEND DATE

Character Group, Kitwave Group, Leeds Building Society 13 3/8% Bearing Shares, Schroder UK Mid Cap Fund, Shoe Zone, Unicorn AIM VCT

QUARTERLY PAYMENT DATE

Aberdeen Diversified Income and Growth Trust , XP Power Ltd. (DI), Yamana Gold Inc. NPV (CDI)

QUARTERLY EX-DIVIDEND DATE

BlackRock Latin American Inv Trust, Ediston Property Investment Company, I3 Energy , JPMorgan Asia Growth & Income, JPMorgan Japan Small Cap Growth & Income, Middlefield Canadian Income PCC

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Continuing Claims (US) (13:30)

Initial Jobless Claims (US) (13:30)

Producer Price Index (US) (13:30)

FINALS

DSW Capital

SPECIAL EX-DIVIDEND DATE

Gulf Keystone Petroleum Ltd Com Shs (DI), ProVen Growth & Income VCT, ProVen VCT, Schroder European Real Estate Investment Trust, Unicorn AIM VCT

AGMS

BT Group, Dr. Martens , Falcon Oil & Gas Ltd., Great Western Mining Corporation (CDI), Great Western Mining Corporation (CDI), Helical, Mind Gym, Randall & Quilter Investment Holdings (DI), Renewi , RS Group, Templeton Emerging Markets Inv Trust, Triple Point Vct 2011 A, Vietnam Enterprise Investments (DI)

TRADING ANNOUNCEMENTS

Ashmore Group, Experian, Hays, Severn Trent

UK ECONOMIC ANNOUNCEMENTS

RICS Housing Market Survey (00:01)

FINAL DIVIDEND PAYMENT DATE

Bank of Georgia Group

FINAL EX-DIVIDEND DATE

Anpario, Aquila Services Group, CMC Markets, D4T4 Solutions, Elixirr International , FirstGroup, Halma, Marks Electrical Group, MS International, Ninety One , Oxford Instruments, ProVen Growth & Income VCT, ProVen VCT, Sanderson Design Group, Telecom Plus, The Mission Group, Wincanton