Week ahead: Huawei, Jackson Hole symposium in focus
The economic calendar will be exceedingly thin over the coming week and back-end loaded but with several potential key risk events strewn across investors's paths.
The first potential hurdle for markets would come on Monday, according to strategists at Bank of America-Merrill Lynch, with the US administration set to announce whether or not to grant waivers to American firms to trade with Chinese technology champion Huawei.
Coincidentally, on 15 August the US President said he had a call scheduled soon with his Chinese counterpart.
On the next day, a no-confidence vote is scheduled against the government in Rome.
Against that backdrop, on Friday, Fed chair Jerome Powell is due to deliver the keynote speech at the Jackson Hole central banking symposium, entitled "Challenges for Monetary Policy", and investors will be particularly attuned to any insights into rate-setters' thinking going into the September Federal Open Market Committee meeting.
In particular, they will be hoping for hints that policymakers in the US might decide on a 50 basis point rate cut on 18 September, instead of the 25 basis point reduction that Fed funds futures were currently predicting.
On home turf, on Wednesday the Office for National Statistics will release public sector net borrowing data for July followed by the Confederation of British Industry's Distributive Trades survey for August during the following session.
Also on Thursday, across the Channel, IHS Markit will publish its preliminary factory and services sector Purchasing Managers' Indices for August.
As for the G7 summit scheduled for the end of the week, on 24-25 August, BofA-ML highlighted the fact that Beijing had not been invited.
Monday August 19
INTERIMS
BATM Advanced Communications Ltd.
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Price Index (EU) (10:00)
Current Account (EU) (09:00)
Wholesale Price Index (GER) (07:00)
FINALS
BHP Group, Omega Diagnostics Group
EGMS
Orascom Investment Holding SAE (REG S)
AGMS
Aortech International, Castleton Technology, Northern Bear, Richland Resources Ltd
FINAL DIVIDEND PAYMENT DATE
Crystal Amber Fund Ltd.
Tuesday August 20
INTERIMS
Empiric Student Property , Finablr , Global Ports Holding, Kenmare Resources, Persimmon, Wood Group (John)
INTERIM DIVIDEND PAYMENT DATE
Dewhurst, Dewhurst (Non-Voting)
QUARTERLY PAYMENT DATE
Merchants Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Producer Price Index (GER) (07:00)
FINALS
Scancell Holdings
AGMS
Circle Property , Gail (India) Ltd GDR (Reg S)
UK ECONOMIC ANNOUNCEMENTS
CBI Industrial Trends Surveys (11:00)
Wednesday August 21
INTERIMS
Charter Court Financial Services Group , Costain Group, Empresaria Group, Hansteen Holdings
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Crude Oil Inventories (US) (15:30)
Existing Home Sales (US) (15:00)
MBA Mortgage Applications (US) (12:00)
SPECIAL DIVIDEND PAYMENT DATE
Ventus VCT, Ventus VCT 'C' Shares
AGMS
Albion Venture Capital Trust, IDE Group Holdings, Latham (James), Tekmar Group, TP Group
TRADING ANNOUNCEMENTS
Pets at Home Group
UK ECONOMIC ANNOUNCEMENTS
Public Sector Net Borrowing (09:30)
FINAL DIVIDEND PAYMENT DATE
Ventus VCT D Shs, Ventus VCT, Ventus VCT 'C' Shares
Thursday August 22
INTERIMS
Anglo Pacific Group, Antofagasta, CRH, Foresight Solar Fund Limited, John Laing Group , Macfarlane Group, NMC Health, Playtech, Premier Oil, Sopheon , Sportech
INTERIM EX-DIVIDEND DATE
Apax Global Alpha Limited , British Smaller Companies VCT 2, CLS Holdings, Croda International, Dairy Farm International Holdings Ltd. (Singapore), Devro, FDM Group (Holdings), Glanbia, GVC Holdings, Hikma Pharmaceuticals, Hongkong Land Holding Ltd. (Sing.Reg), Jardine Matheson Holdings Ltd (Singapore Reg), Jardine Matheson Holdings Ltd. (Bermuda), Jardine Matheson Holdings Ltd. (Jersey), Jardine Strategic Holdingd Ltd. (Bermuda), Jardine Strategic Holdingd Ltd. (Jersey REG), Jardine Strategic Holdings Ltd. (Singapore), Keller Group, London Stock Exchange Group, Mandarin Oriental International (Singapore), Marshall Motor Holdings, Mobeus Income & Growth 2 Vct, Mobeus Income & Growth 4 Vct, Mobeus Income & Growth Vct, Reckitt Benckiser Group, Sabre Insurance Group, Schroders, Schroders (Non-Voting), Synectics, Vivo Energy
QUARTERLY PAYMENT DATE
Fair Oaks Income Limited 2017 Shs NPV, M Winkworth
QUARTERLY EX-DIVIDEND DATE
Blackrock North American Income Trust , Carnival, NextEnergy Solar Fund Limited Red, Pershing Square Holdings Ltd NPV, Pershing Square Holdings Ltd NPV (USD), Premier Global Infrastructure Trust, Real Estate Credit Investments Ltd
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Continuing Claims (US) (13:30)
Gross Domestic Product (GER) (07:00)
Initial Jobless Claims (US) (13:30)
FINALS
Arcontech Group, Ashley (Laura) Holding, Rank Group
AGMS
Blue Planet Investment Trust, Oakley Capital Investments Ltd. (DI)
FINAL DIVIDEND PAYMENT DATE
Circle Property , Sirius Real Estate Ltd.
FINAL EX-DIVIDEND DATE
Berkeley Group Holdings (The), Castleton Technology, Cohort, Creightons, First Property Group, JPMorgan Brazil Inv Trust , Miton UK Microcap Trust, Park Group, Ramsdens Holdings , Stagecoach Group, Walker Crips Group
Friday August 23
INTERIMS
Ashmore Global Opportunities Limited GBP , Computacenter, Glenveagh Properties, Henry Boot
INTERIM DIVIDEND PAYMENT DATE
Independent Inv Trust, M & G Credit Income Investment Trust
QUARTERLY PAYMENT DATE
APQ Global Limited, Primary Health Properties, SME Credit Realisation Fund Limited NPV, Tufton Oceanic Assets Limited NPV
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
New Homes Sales (US) (15:00)
Q2
Afarak Group (DI)
AGMS
Ashmore Global Opportunities Limited GBP , Mortice Ltd. (DI), Naspers Ltd. ADR
UK ECONOMIC ANNOUNCEMENTS
BBA Mortgage Lending Figures (09:30)
CBI Distributive Trades Surveys (11:00)
FINAL DIVIDEND PAYMENT DATE
Bloomsbury Publishing, GB Group, Latham (James), Scapa Group, Triad Group