Tuesday preview: US GDP in focus amid interest rate speculation

US economic growth data on Tuesday will be in focus amid speculation that there may be a strong case for raising interest rates in December.

Gross domestic product is expected to be revised to an annualised 2.1% in the third quarter, up from a previous estimate 1.5%.

“A smaller drag in inventory accumulation should account for most of the upward revision to GDP. Consumer spending growth may be revised higher to 3.3% from 3.2%,” according to HSBC analysts.

A report on US consumer confidence is also due, with analysts predicting an improvement in sentiment in November. The confidence index is forecast to rise to 99.5 from 97.6 in October.

The US S&P/Case-Shiller Composite-20 will be closely followed and economists have pencilled in a 5.15% year-on-year rise in September following a 5.09% a month earlier.

Following a recent batch of positive economic data, Federal Reserve Bank of San Francisco president John Williams said over the weekend that there is likely to be a “strong case” for raising interest rates next month.

"The data I think have been overall encouraging, especially on the labour market. Assuming that we continue to get good data on the economy, continue to get signs that we are moving closer to achieving our goals" and gaining confidence of getting back to 2% inflation, then "there´s a strong case that can be made in December to raise rates". The Fed meeting is due to take place on 15-16 December.

Tuesday 24 November

INTERIMS
AO World, CML Microsystems, Creston, De La Rue, Immunodiagnostic Systems Holdings, Pets at Home Group , Record, Scapa Group, Severfield, Solid State, Telecom Plus

INTERIM DIVIDEND PAYMENT DATE
Intu Properties

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Confidence (US) (15:00)
Durable Goods Orders (US) (13:30)
GDP (Preliminary) (US) (13:30)
IFO Business Climate (GER) (09:00)
IFO Current Assessment (GER) (09:00)
IFO Expectations (GER) (09:00)

Q3
Nostrum Oil & Gas , Signet Jewelers Ltd.

GMS
Camco Clean Energy, Cenkos Securities, Strat Aero

FINALS
Cambria Automobiles, Greencore Group, Mitchells & Butlers, Paragon Group Of Companies, Renew Holdings, Shaftesbury, UDG Healthcare Public Limited Company

SPECIAL DIVIDEND PAYMENT DATE
Tex Holdings

EGMS
VinaLand Ltd, VinaLand ZDP Ltd

AGMS
Avanti Communications Group, Dunelm Group, Pantheon International Participations, Surface Transforms, Vietnam Infrastructure Limited Private Eqty Shs , VinaLand Ltd, VinaLand ZDP Ltd

TRADING ANNOUNCEMENTS
Cineworld Group, Hill & Smith Holdings, Kingfisher

UK ECONOMIC ANNOUNCEMENTS
CBI Distributive Trades Surveys (11:00)

FINAL DIVIDEND PAYMENT DATE
Close Brothers Group, JPMorgan Emerging Markets Inv Trust