By David Papier

We start the week with potentially market-moving data from Europe and the US as they offer their PMI releases on Tuesday morning. The data will reveal just how strong the manufacturing and services industries are in the world’s largest economies, and to what extent economic activity is gaining traction. With the Federal Reserve due to raise rates again this year and the US dollar maintaining its upward momentum, these figures will be closely watched.

Commodity traders will be paying close attention to the midweek release of the Crude Oil numbers. Global prices have dropped from recent peaks so we’ll be waiting to see if their numbers support the current market sentiment.

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The European Central Bank (ECB) is due to report again with markets poised for any further news on future rate policy. Last month’s meeting contained a few market surprises, in particular, the confirmation that asset purchasing will conclude by the end of the year, and the change in forward guidance which effectively pushed back any rate hikes.

The end of the week brings the biggest data releases as we see the first estimate of US GDP for Q2. This usually volatile estimate will give the markets their first impression on how Q2 has developed. Previous readings were coming in at 2.2% annualised with estimates for the rate to increase only a modest 2.3%.

Keep an eye on your inbox for more market news as we venture into the week ahead.

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Economic Calendar

(All times are in BST)

Monday, 23rd July

15:00 EU Consumer Confidence Index –Flash
15:00 US Existing Home Sales –Total Sales

Tuesday, 24th July

01:30 JPN PMI – Flash Estimates -Manufacturing
07:45 FR Business Sentiment Index
08:00 FR PMI Flash Estimates –Manufacturing
08:30 DE PMI Flash Estimates –Manufacturing
09:00 EU PMI Flash Estimates –Manufacturing
09:00 EU PMI Flash Estimates –Composite
09:00 EU PMI Flash Estimates –Services

Wednesday, 25th July

02:30 AUD CPI –Index Number
02:30 AUD CPI –MoM
02:30 AUD CPI –YoY
15:00 US New Home Sales – Overall Sales –MoM
15:30 EIA Crude Oil Stocks –Net Change

Thursday, 26th July

12:45 EU Interest Rate Announcement –Refinancing rate
13:30 US Unemployment Claims- WoW

Friday, 27th July

00:30 JPN CPI – Tokyo - YoY
00:30 JPN CPI – Tokyo Core – YoY
06:30 FR GDP Preliminary QoQ
07:00 UK House Price –Nationwide – MoM
07:00 UK House Price –Nationwide – YoY
08:30 SW Retail Sales -YoY
13:30 US GDP –Advanced
15:00 US Consumer Sentiment Survey -Final

Corporate Calendar

Monday, 23rd July

Tungsten Corp – Final Results
Marstons PLC – Trading Statement
Alphabet Inc –Earnings Announcement
Halliburton Inc –Earnings Announcement
Hasbro Inc –Earnings Announcement

Tuesday, 24th July

Britvic PLC –Trading Statement
Hammerson PLC - Interim Results
Drax Group PLC - Interim Results
Gresham Technologies PLC - Interim Results
Spectris PLC - Interim Results
Unite Group PLC - Interim Results
IG Group Holdings PLC – Final Results
PZ Cussons– Final Results
3m Company –Earnings Announcement
AT&T Inc –Earnings Announcement
Chubb Inc –Earnings Announcement
Eli Lilley and Company –Earnings Announcement
Harley Davidson Inc –Earnings Announcement
Jet Blue Airways Corp–Earnings Announcement#
Lockheed Martin Corp –Earnings Announcement
Texas Instruments Inc –Earnings Announcement
UBS AG –Earnings Announcement
Verizon Communications Inc –Earnings Announcement

Wednesday, 25th July

Croda International PLC - Interim Results
Glaxo SmithKline PLC - Interim Results                                                       
Informa PLC - Interim Results
ITV PLC - Interim Results
Rathbone PLC - Interim Results
Tullow Oil PLC - Interim Results
Wizz Air PLC - Interim Results
Brewin Dolphin Holdings PLC – Trading Statement
3i Group PLC – Trading Statement
Vodaphone PLC – Trading Statement
Barrick Gold Inc –Earnings Announcement
Boeing Company Inc –Earnings Announcement
Coca Cola Company Inc –Earnings Announcement
Deutsche Bank AG –Earnings Announcement
Facebook Inc –Earnings Announcement
Ford Motor Company –Earnings Announcement
Freeport McMoran Inc –Earnings Announcement
Imax Corp–Earnings Announcement
Mattel Inc –Earnings Announcement
Visa Inc –Earnings Announcement

Thursday, 26th July

Anglo American PLC – Interim Results
Astra Zeneca PLC – Interim Results
British American Tabacco PLC – Interim Results
Countrywide PLC – Interim Results
GKN PLC – Interim Results
Intu Properties PLC – Interim Results
Jardine Lloyd Thompson PLC – Interim Results
Royal Dutch Shell PLC – Interim Results
Schroders PLC – Interim Results
Smith and Nephew PLC – Interim Results
Telefonica SA– Interim Results
Diageo PLC –Final Result
Renishaw PLC –Final Result
Sky PLC –Final Result
CMC Markets PLC –Trading Statement
Compass Group CMC Markets PLC –Trading Statement
Daily Mail General Trust PLC–Trading Statement
Johnson Matthey PLC–Trading Statement
Tate and Lyle PLC–Trading Statement
Allergan Inc –Earnings Announcement
Amazon Inc –Earnings Announcement
Ambev Inc –Earnings Announcement
American Airlines Inc –Earnings Announcement
Anheuser Busch Inbev Inc –Earnings Announcement
Canon Inc –Earnings Announcement
Chipotle Inc –Earnings Announcement
Comcast Inc –Earnings Announcement
Electronic Arts Inc –Earnings Announcement
Mastercard Inc –Earnings Announcement
McDonalds Inc –Earnings Announcement
Nokia Corp–Earnings Announcement
Spotify Inc –Earnings Announcement

Companies paying dividends 

Bb Healthcare Trust Plc Red Ord 1p [BBH] (2 p)
Bloomsbury Publishing PLC [BMY] (6.36 p)
Blackrock Income & Growth Inv Trust [BRIG] (2.5 p)
Custodian Reit Plc [CREI] (1.64 p)
Halfords Group PLC [HFD] (12.03 p)
Investec PLC [INVP] (13.5 p)
Porvair PLC [PRV] (1.6 p)
Royal Mail Plc [RMG] (16.3 p)
Sanderson Group PLC [SND] (1.25 p)
SSE PLC [SSE] (66.3 p)
Stenprop Limited [STP] (4 p)

Friday 27th July

BT Group PLC – Interim Results
Pearson PLC – Interim Results
Reckitt Benkiser - PLC – Interim Results
Rightmove PLC – Interim Results
Colgate Palmolive Inc –Earnings Announcement
Exxon Mobil Corp –Earnings Announcement
Twitter Inc –Earnings Announcement

Index Divis Jul 18 to 24

Estox (1.5 July 23rd) Eurex Euro Stoxx
Italy 40 (66.1 July 23rd) IDEM RD
Dow (10.7 July 20th) CBOT Index RD
SP (0.29 July 19th) (0.12 July 20th) (0.14 July 24th) CME Index Cash
Nasdaq (0.1 July 24th) CME NDX Cash

Sources: Bloomberg/Companies

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