Tuesday preview: UK employment, Wal Mart in the spotlight

All eyes on Tuesday will be on the June employment rate due out in the UK.

Unemployment is expected to be unchanged at 3.8%, but the quarterly year-on-year rate of growth in average weekly earnings is expected to have slowed from 6.2% to 5.2%.

The number of job vacancies is also expected to have declined, with Barclays Research pointing out that the Bank of England has explicitly stated that it will be watching the vacancy:unemployment ratio.

Across the Channel meanwhile, the ZEW Institute is scheduled to publish its gauge of economic expectations for Germany.

In the US, the market spotlight will be on the release of housing starts data for July and for industrial production in June.

Consensus is for the index to slip from -53.8 for July to -60.0 in August.

On the corporate side of things and in the US, retail giant Wal Mart is scheduled to publish its second quarter financials.

Year-to-date the company has been steadily reducing its forecasts for margins, even as it raised those for sales, on the back of higher costs, Michael Hewson, chief market analyst at CMC Markets UK pointed out.

And in July it said consumer spend on food and energy now accounted for a much higher share of the average retail basket of goods, leaving less to spend on higher value and margin ones.

Tuesday 16 August

INTERIMS

Impact Healthcare Reit , Tremor International LTD (DI), Tribal Group

INTERIM DIVIDEND PAYMENT DATE

Dewhurst Group, Dewhurst Group 'A'NON.VTG

INTERIM EX-DIVIDEND DATE

Coventry 12 1/8% Perm Int Bearing Shs #1000

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Balance of Trade (EU) (10:00)

Building Permits (US) (13:30)

Capacity Utilisation (US) (14:15)

Housing Starts (US) (13:30)

Industrial Production (US) (14:15)

ZEW Survey (EU) - Economic Sentiment (10:00)

ZEW Survey (GER) - Current Situation (10:00)

ZEW Survey (GER) - Economic Sentiment (10:00)

Q2

Bank of Georgia Group

FINALS

BHP Group Limited NPV (DI)

AGMS

RUA Life Sciences

TRADING ANNOUNCEMENTS

Softline Holding GDR (REG S) , Watches of Switzerland Group

UK ECONOMIC ANNOUNCEMENTS

Claimant Count Rate (07:00)

Unemployment Rate (07:00)