Wednesday preview: All eyes on US Presidential debate
All eyes at the end of the third quarter will be on the result of the televised debate overnight between the two hopefuls to the White House, the incumbent Donald Trump and his Democratic contender, Joe Biden.
Boohoo Group
34.62p
12:34 24/12/24
FTSE AIM 100
3,464.93
13:14 24/12/24
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717.40
13:14 24/12/24
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Asian markets will get the first chance to react with investors likely to be closely scrutinising polling results for any signs of a shift in voters' intentions.
"Joe Biden still has a healthy lead and therefore everything to lose, while the debating stage surely benefits President Trump as he looks to close the gap," said Craig Erlam, senior market analyst at Oanda.
"The New York Times expose on Trump's tax affairs will certainly add extra spice to the evening, with the President going into the debate on the backfoot, meaning he'll probably come out all guns blazing."
According to Real Clear Politics, a national average of polls had Biden well out in front by a margin 6.1 points with 49.3% support the day before the debate, but in the so-called 'top battleground' states he was sporting a narrower lead of 3.6 points.
Also due out overnight will be the result of Caixin's Chinese manufacturing sector survey, which in itself can easily move markets.
It will be followed in the afternoon by consultancy ADP's monthly private sector payrolls report.
Given some analysts' forecasts for the official non-farm payrolls number, which is published two days afterwards, to reveal a slowdown in hiring in September, this time around the ADP report may garner more attention than usual.
On the corporate side of things meanwhile, investors will have Boohoo in their sights as the popular online fashion retailer posts its latest interims.
The firm has been dogged of late by allegations of working practices not being up to scratch at some of its suppliers.
Nonetheless, the company's share price has mostly recovered since then.
"However the damage done to its reputation, along with the loss of a number of key social media influencers pulling their support for the brand has stunted the appeal of the shares," said Michael Hewson, chief market analyst at CMC Markets UK.
"An update on the findings of the independent review was announced last week, and it didn’t paint a particularly positive picture, highlighting significant shortcomings in the company’s supply chain."
Against that backdrop, Hewson said the outfit's latest sales numbers would be an 'acid test' as to "how much damage July’s events have had on overall sales".
Wednesday 30 September
INTERIMS
1Spatial, 888 Holdings, Block Energy , Boohoo Group, Bushveld Minerals Limited, Distribution Finance Capital Holdings, GETECH Group, Minds + Machines Group Limited (DI), Quixant, S&U, Sumo Group , Triple Point Social Housing Reit, Xaar, Yu Group
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Aviva 8 3/8% Cumulative Irrd Preference 1, Chrysalis VCT, Henry Boot Prf, Keystone Inv Trust 5% Cumulative Preference 1, M&G, Northern Electricity Prf, S and U 6% Cumulative Prf. £1
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Chicago PMI (US) (14:45)
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Chenavari Capital Solutions Limited Red, IntegraFin Holding
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Avingtrans, Bezant Resources, BION NPV, InnovaDerma, Itaconix , Premier African Minerals Ltd, Sensyne Health
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BION NPV, Immedia Group, Itaconix , ProPhotonix (DI), Victoria Oil & Gas
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Active Energy Group, Anglesey Mining, Catena Group , City of London Group, Clipper Logistics , Creightons, daVictus, Distribution Finance Capital Holdings, HML Holdings, Marlowe, Mobile Tornado Group, Motif Bio, Panthera Resources , Pennpetro Energy , PHSC, Powerhouse Energy Group, Purplebricks Group, Renishaw, San Leon Energy, Scholium Group, Tekmar Group, TheWorks.Co.Uk, UniVision Engineering Ltd., Volga Gas
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