Tuesday preview: Global PMIs, CBI Industrial Trends survey in focus

Investors' focus on Tuesday will be on the release of a barrage of Purchasing Managers survey results covering activity in manufacturing and services in the euro area, UK and US during the month of August.

Consensus is for those surveys covering the former two regions to reveal a decline in both sectors, whereas in the US services PMI is expected to rebound following a sharp surprise drop in July that rattled financial markets.

The PMIs for the euro area and Uk are scheduled for release at 0900 BST and 0930 BST, respectively, and those on the other side of the Pond are due out at 1445 BST.

Also due out in the US, at 1500 BST, are figures covering new home sales in July.

Economists at Barclays Research are anticipating a modest decline in the annualised rate of sales from 590,000 in June to 575,000 this time around, on the back of higher mortgage rates and falls in housing starts.

The Confederation of British Industry will publish the results of its industrial trends survey for August at 1100 BST.

Aross the Channel meanwhile, the European Commission is expected to release a preliminary reading for consumer confidence across the single currency bloc for August at 1500 BST.

Further afield, overnight rate-setters in Indonesia will meet to decide on interest rates with forecasts pointing to no change in its seven-day reverse repurchase rate which was at 3.50%.

Tuesday 23 August

INTERIMS

AB Ignitis Grupe GDR (Reg S), Aferian, RM

QUARTERLY EX-DIVIDEND DATE

Vaalco Energy, Inc (DI)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

New Homes Sales (US) (15:00)

AGMS

African Pioneer NPV, Bezant Resources, Edge Performance VCT 'H' Shares, Kendrick Resources, Livermore Investments Group Ltd., Xtract Resources

FINAL DIVIDEND PAYMENT DATE

Oxford Instruments