Wednesday preview: UK CPI, Ashmore Group in the spotlight

Financial markets' focus in the middle of the week will continue to be on inflation, but on this side of the Pond this time around.

At 0700 BST, the Office for National Statistics will publish a reading on UK consumer prices for June.

Economists at Barclays Research anticipate that the annual rate of change in CPI will edge up by one tenth of a percentage point from May to 2.2%.

Core CPI meanwhile is seen coming in at 2.0%, the same level as in the month before.

Stateside, the spotlight will be on Federal Reserve chairman, Jerome Powell's semi-annual testimony before the House Financial Services Committee at 1700 BST.

Before that, the Department of Labor will release factory gate price data for June.

They are likely to be closely scrutinised by market participants for signs of further price pressures in the pipeline.

Across the Channel, European Central Bank governing council member, Isabel Schnabel will take to the podium at 1345 BST.

Euro area industrial production for May are also due out, at 100 BST.

On the other side of the world, overnight rate-setters in New Zealand will meet to decide on policy.

Fund manager Ashmore will issue a trading update for its fiscal fourth quarter.

According to UBS's Michael Werner, investors' focus will be on the firm's quarterly net flows, excluding the impact of its low-margin Overlay product.

Werner's own estimate was for net flows of $0.5bn, versus consensus on $0.2bn.

The analyst meanwhile pegged Ashmore's market performance for the three months to June at $1.4bn (consensus: $2.2bn) for assets under management of $91.8bn (consensus: $92.3bn).

Wednesday 14 July

QUARTERLY PAYMENT DATE

Assura , XP Power Ltd. (DI), Yamana Gold Inc. NPV (CDI)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Crude Oil Inventories (US) (15:30)

Industrial Production (EU) (10:00)

MBA Mortgage Applications (US) (12:00)

Q2

Pagegroup

Q4

Dunelm Group

FINALS

Accrol Group Holdings, Great Eastern Energy Corp Ltd. GDR, Knights Group Holdings , Kromek Group, System1 Group

AGMS

B.P. Marsh & Partners, Biotech Growth Trust (The), Braveheart Investment Group, Burberry Group, DP Eurasia N.V. (DI) , India Capital Growth Fund Ltd., LXI Reit , ProVen Growth & Income VCT, ProVen VCT, Trackwise Designs

TRADING ANNOUNCEMENTS

Ashmore Group, Barratt Developments, Dunelm Group

UK ECONOMIC ANNOUNCEMENTS

Consumer Price Index (07:00)

Producer Price Index (07:00)

Retail Price Index (07:00)

FINAL DIVIDEND PAYMENT DATE

Michelmersh Brick Holdings