Friday preview: Eurozone Q3 GDP flash estimate, Rotork update eyed

Investors will have a slew of data releases to sink their teeth into on Friday, although the corporate calendar is looking pretty light.

Rotork

317.20p

15:45 15/11/24

-0.50%

-1.60p

The flash estimate of third quarter Eurozone gross domestic product is at 1000 GMT, along with trade balance figures for the bloc, while UK construction output is at 0930 GMT.

HSBC said the preliminary Q3 GDP release showed that the construction sector in the UK contracted 2.2% quarter-on-quarter. This included an estimate of 1.3% month-on-month growth in September.

“Based on surveys and the recent pattern of the official data, we think construction growth may have been slightly stronger in September at 1.9% month-on-month,” it said.

In the US, retail sales for October and PPI are at 1330 GMT, while business inventories and University of Michigan consumer confidence are at 1500 GMT.

HSBC estimates total US retail sales rose 0.4% month-on-month in October, with ex-auto sales also up 0.4%

It will be a much quieter affair on the corporate front, with a third quarter trading statement from industrial valve maker Rotork the highlight.

Numis said the update will hopefully confirm full year numbers remain on track i.e no further deferrals being seen, but added that good news is likely to be sparse with stabilisation at best given peers' comments.

“Guidance with the September warning was relatively wide (EBIT £120m-£130m). Confirmation that expectations are still in this range would provide a relief and anywhere apart from the lower end arguably a positive surprise,” the brokerage said.

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