Week ahead: UK October employment report in focus

In the aftermath of Friday´s US jobs report, next Wednesday investors were set to turn to matters closer to home, with the release of the September employment report and October´s tally for the claimant count.

They were to be published alongside a raft of second-tier indicators on retail sales and house prices.

Nonetheless, and as Credit Suisse pointed out in a research report sent to clients on 6 November, the minutes of the last MPC meeting revealed that rate-setters in the UK were in no hurry to raise rates.

Quite the opposite, they were more than happy to remain a bit 'behind the curve'.

Analysts S.Jalinoos, D.Russell and N.Hill still expected the labour market to tighten rapidly and pay growth to accelerate.
However, "the MPC is likely to react in a dovish fashion as it prefers to be behind the curve," they said.

"The dovish reaction of the Bank of England to the hawkish Fed makes us believe that the Fed matters less for the Bank of England than we thought."

Notwithstanding those US non-farm payrolls figures, data on retail sales and consumer confidence on the other side of the Pond, on Friday, would still be closely scrutinised.

A rate rise come December was now judged by many as more likely - including by traders in Fed funds futures - but it remained to be seen if it was completely 'in the bag' yet.

Final consumer price data out of the Eurozone´s four largest economies on Thursday and Friday were likely to attract attention in so far as they might factor into expectations for possible further QE from the European Central Bank in December and hence into movements in foreign exchange markets - potentially an important piece of the puzzle for the Fed too.

Lastly, figures on Japanese machinery orders in September would arrive mid-week.

Monday 09 November

INTERIMS
Falanx Group Ltd, Redcentric

INTERIM DIVIDEND PAYMENT DATE
Manx Telecom , Morrison (Wm) Supermarkets, WPP

QUARTERLY EX-DIVIDEND DATE
IBM Corp.

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Trade (GER) (07:00)
Current Account (GER) (07:00)
Harmonised Competitiveness Indicators (EU) (09:00)
Retail Price Index (GER) (07:00)

Q3
OJSC Novolipetsk Steel GDS (Reg S)

FINALS
Carr's Group, Lonmin

ANNUAL REPORT
Bellway

IMSS
Aggreko, Hiscox Limited (DI), Redrow

AGMS
DX (Group), Prairie Mining Limited, TR European Growth Trust

Tuesday 10 November

INTERIMS
Aveva Group, BTG, DCC, Energy Assets Group, Experian, Hayward Tyler Group, Land Securities Group, Liontrust Asset Management, National Grid, Oxford Instruments, Penna Consulting, Premier Foods, Software Radio Technology, Speedy Hire, Trifast, Vodafone Group

INTERIM DIVIDEND PAYMENT DATE
Travis Perkins

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Import and Export Price Indexes (US) (13:30)
Wholesales Inventories (US) (00:00)

GMS
Hutchison China Meditech Ltd

IMSS
Wolseley

EGMS
International Public Partnerships Ltd., Societatea Commerciala De Distributie Si Furnizare A Energiei Electrice S.A. GDR (Reg S)

AGMS
A&J Mucklow Group, Redrow

TRADING ANNOUNCEMENTS
Capital & Counties Properties

UK ECONOMIC ANNOUNCEMENTS
BRC Sales Monitor (00:01)

Wednesday 11 November

INTERIMS
First Derivatives, Flybe Group, Great Portland Estates, Real Good Food , Sophos Group , SSE, Workspace Group

INTERIM DIVIDEND PAYMENT DATE
Exova Group

INTERIM EX-DIVIDEND DATE
CareTech Holding

Q3
Grupo Clarin SA GDR (Reg S)

GMS
Primary Health Properties, Sula Iron & Gold

FINALS
Applied Graphene Materials

IMSS
Barratt Developments, esure Group, G4S

AGMS
Avingtrans, Barratt Developments, Hays, Strategic Equity Capital, Unitech Corporate Parks

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

FINAL DIVIDEND PAYMENT DATE
Pacific Horizon Inv Trust

Thursday 12 November

INTERIMS
Atkins (WS), Burberry Group, FirstGroup, Halfords Group, Infinis Energy, Norcros, Volex

INTERIM DIVIDEND PAYMENT DATE
British American Inv Trust, Ladbrokes, Tullett Prebon, Zhejiang Expressway Co 'H' Shares

INTERIM EX-DIVIDEND DATE
CareTech Holding, Hargreave Hale AIM VCT 2, Home Retail Group, Marks & Spencer Group, Next Fifteen Communications, Octopus Apollo VCT, Panther Securities

QUARTERLY PAYMENT DATE
Merchants Trust

QUARTERLY EX-DIVIDEND DATE
Brunner Inv Trust, F&C Commercial Property Trust Ltd., GlaxoSmithKline, Picton Property Income Ltd, Royal Dutch Shell 'A', Royal Dutch Shell 'B'

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Continuing Claims (US) (13:30)
Crude Oil Inventories (US) (15:30)
Industrial Production (EU) (10:00)
Initial Jobless Claims (US) (13:30)
MBA Mortgage Applications (US) (12:00)
Treasury Budget Statement (US) (19:00)

Q3
PJSC Cherkizovo Group GDR (Reg S), TBC Bank Joint Stock Company GDR (REGS)

GMS
Finsbury Growth & Income Trust

FINALS
AB Dynamics, Punch Taverns

ANNUAL REPORT
AB Dynamics

IMSS
Beazley, Howden Joinery Group, IMI, Rolls-Royce Holdings

SPECIAL DIVIDEND PAYMENT DATE
JPMorgan Mid Cap Inv Trust, S&U

SPECIAL EX-DIVIDEND PAYMENT DATE
Tex Holdings

EGMS
X5 Retail Group NV GDR (Reg S)

AGMS
Asian Citrus Holding, Crown Place VCT, Digital Globe Services Ltd (DI), Hansard Global, Kier Group, Picton Property Income Ltd, Qatar Investment Fund, Swallowfield, Target Healthcare Reit Ltd, Thorpe (F.W.)

TRADING ANNOUNCEMENTS
Halfords Group, Restaurant Group, Tungsten Corporation

UK ECONOMIC ANNOUNCEMENTS
RICS Housing Market Survey (09:30)

FINAL DIVIDEND PAYMENT DATE
Ideagen, JPMorgan Mid Cap Inv Trust, Photo-Me International

FINAL EX-DIVIDEND DATE
Abcam, Finsbury Food Group, JPMorgan Overseas Inv Trust, JPMorgan Smaller Companies Inv Trust, Jupiter European Opportunities Trust, Just Retirement Group, Matchtech Group, Swallowfield

Friday 13 November

INTERIMS
Auto Trader Group , Castings, Enteq Upstream

INTERIM DIVIDEND PAYMENT DATE
Amati Vct 2, British Polythene Industries, Kerry Group 'A' Shares, Kingfisher, Lombard Risk Management, M&C Saatchi, Restore, Spectris, Staffline Group, Walker Greenbank

QUARTERLY PAYMENT DATE
Marsh & Mclennan Cos Inc.

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Trade (EU) (10:00)
Business Inventories (US) (15:00)
GDP (Flash Estimate) (EU) (10:00)
Producer Price Index (US) (13:30)
Retail Sales (US) (13:30)
Retail Sales Inventories (US) (14:00)

Q3
Fondul Proprietatea S.A. GDR (Reg S), Societatea Nationala De Gaze Naturale Romgaz S.A. GDR (Reg S)

GMS
Scientific Digital Imaging

EGMS
Eurasia Drilling Co Ltd GDR (Reg S)

AGMS
Base Resources Ltd , Galliford Try, Macau Property Opportunities Fund Ltd., Sefton Resources Inc.

TRADING ANNOUNCEMENTS
Alpha Pyrenees Trust Ltd., Hellermanntyton Group

FINAL DIVIDEND PAYMENT DATE
Daejan Holdings, Darty, Go-Ahead Group, Hays, Murgitroyd Group, Redrow, Ricardo