Wednesday preview: UK jobs data, Chinese inflation, US retail sales

The UK labour market report on Wednesday is expected to show accelerated jobs growth and a pick-up in wages in the three months to August.

Analysts predict the UK added 140,000 jobs during the period, compared to 42,000 in the previous three months. Average weekly earnings are estimated to have climbed 3.1% following a 2.9% gain the prior quarter when it reached a six-year high.

The unemployment rate is forecast to hold at 5.5%.

Jobless claims in September are projected to have fallen 2,200 after a 1,200 increase in August.

The Bank of England is closely monitoring the jobs market, particularly wage growth, as policymakers weigh the best timing for an interest rate hike.

Last week the central bank said in its policy meeting minutes that costs pressures in the labour market were rising too slowly for inflation to return to the Bank’s 2% target. The central bank expects inflation will stay below 1% until spring 2016.

Also high on Wednesday’s agenda will be the release of China inflation figures. The consumer price index may have risen 1.8% in September compared to the same month a year ago, following a 2% increase in August, according to analysts’ forecasts. The producer price index is estimated to fall 5.9% year-on-year in September, the same as August.

US retail sales figures will be released in afternoon trade and are expected to reveal a 0.2% increase in September, the same rate of growth as the previous month. The report is an important indicator of consumer spending which is a major contributor to gross domestic product.

Wednesday 14 October

INTERIMS
Brown (N.) Group, Vertu Motors, Walker Greenbank

INTERIM DIVIDEND PAYMENT DATE
Acencia Debt Strategies Ltd., Dairy Farm International Holdings Ltd (Bermuda), Dairy Farm International Holdings Ltd. (Jersey), Dairy Farm International Holdings Ltd. (Singapore), Hellermanntyton Group, Hongkong Land Holding Ltd. (Bermuda), Hongkong Land Holding Ltd. (Jersey), Hongkong Land Holding Ltd. (Sing.Reg), IDOX, Jardine Matheson Holdings Ltd (Singapore Reg), Jardine Matheson Holdings Ltd. (Bermuda), Jardine Matheson Holdings Ltd. (Jersey), Jardine Strategic Holdingd Ltd. (Bermuda), Jardine Strategic Holdings Ltd. (Singapore), Mandarin Oriental International (Bermuda), Mandarin Oriental International (Jersey), Mandarin Oriental International (Singapore), Neptune-Calculus Income & Growth VCT

QUARTERLY EX-DIVIDEND DATE
Abbott Laboratories

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Beige Book Fed Survey (US) (19:00)
Business Inventories (US) (00:00)
Crude Oil Inventories (US) (15:30)
Industrial Production (EU) (10:00)
MBA Mortgage Applications (US) (12:00)
Producer Price Index (US) (13:30)
Retail Sales (US) (13:30)
Retail Sales Inventories (US) (15:00)

FINALS
Animalcare Group, Connect Group, Imperial Innovations Group

IMSS
Hargreaves Lansdown

EGMS
Ultima Networks

AGMS
Diverse Income Trust (The)

TRADING ANNOUNCEMENTS
Domino's Pizza Group

UK ECONOMIC ANNOUNCEMENTS
Claimant Count Rate (09:30)
Unemployment Rate (09:30)