Wednesday preview: US ADP jobs report, Sainsbury's in focus

The focus on Wednesday will revert to the US, where a slew of first-tier economic indicators are scheduled for release, including key data linked to the jobs market.

In particular, market participants will be waiting on the results of consultancy ADP's private sector jobs report for the month of June, with the consensus forecast being for a rise from 27,000 for May to 140,000 in June.

Nevertheless, the survey's results, which are typically pubished two days before the official monthly payrolls report, do not always correlate closely.

Indeed, sometimes they can differ markedly.

In any case, the holiday-shortened session on account of the 4 July holiday means that the market reaction may be subdued.

Also due out will be readings on the US foreign trade balance for May, on weekly jobless claims and on the ISM institute's non-manufacturing sector Purchasing Managers' Index for the month of June.

Across the Channel meanwhile, rate-setters in Sweden are set to meet to decide on interest rates.

On the corporate side of things meanwhile, grocer Sainsbury's will be in the market spotlight as it delivers a trading update.

According to CMC Markets UK's Michael Hewson, given the ongoing pressure on the company's margins from discounters Aldi and Lidl and the generally tough retail environment, cost control "is likely to gain a much bigger focus, particularly if sales contiue to struggle".

Wednesday July 03

INTERIM DIVIDEND PAYMENT DATE

Greencore Group, Inland Homes

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Auto Sales (US) (20:30)

Balance of Trade (US) (13:30)

Factory Orders (US) (15:00)

ISM Non-Manufacturing (US) (15:00)

MBA Mortgage Applications (US) (12:00)

PMI Composite (EU) (09:00)

PMI Composite (GER) (08:55)

PMI Composite (US) (14:45)

PMI Services (EU) (09:00)

PMI Services (GER) (08:55)

PMI Services (US) (14:45)

FINALS

Purplebricks Group

AGMS

Braemar Shipping Services, Carador Income Fund USD Shares, JD Sports Fashion, Oxford Technology 2 VCT, Oxford Technology 3 VCT, Oxford Technology 4 Venture Capital Trust, Oxford Technology VCT, ProVen Growth & Income VCT, ProVen VCT, Third Point Offshore Investors Limited

TRADING ANNOUNCEMENTS

Electrocomponents

UK ECONOMIC ANNOUNCEMENTS

PMI Services (09:30)

FINAL DIVIDEND PAYMENT DATE

LXI Reit , Ra International Group, RHI Magnesita N.V. (DI), Tandem Group