Tuesday preview: UK employment, Vodafone in the spotlight

The focus on Tuesday will be on the latest UK employment report to see how the jobs is starting to benefit from the easing of lockdowns.
Although it is the March report, data for the claimant count, PAYE payrolls and vacancies will all be referencing the month of April.

Unemployment meanwhile is expected to have held steady over the three months to the end of March at 4.5%, while headline average weekly earnings are forecast to have grown at a clip of 4.5%, the same as for the three months ending in February.

Stateside, the spotlight will be on existing home sales data for April.

Across the Channel meanwhile, European Central Bank chief economist, Philip Lane, is due to speak at 1650 BST at the Dublin Climate Dialogues.

Also due out in the euro area is a final reading on consumer prices for the month of April.

For Vodafone’s full-year numbers, CMC Markets UK’s Michael Hewson says investors focus over the past 12 months has been on the company’s ability to address its cash-flow and debt issues, even as it invests in 5G.

At the half-year stage, management bumped-up its full-year guidance for earning to 14.0-14.6bn.

To take note of, in March it floated its Vantage Towers business, raising 2.3bn which Vodafone said it would use to lower its gearing.

The shares are trading near 11-month highs going into the results, but remain below their pre-pandemic highs.

Tuesday 18 May

INTERIMS

Benchmark Holdings , Hyve Group, Imperial Brands , Sureserve Group, Tritax Eurobox (GBP), Watkin Jones

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Balance of Trade (EU) (10:00)

Building Permits (US) (13:30)

Housing Starts (US) (13:30)

Q2

Benchmark Holdings

FINALS

Assura , First Derivatives, Homeserve, Land Securities Group, Mckay Securities, Minds + Machines Group Limited (DI), Sanderson Design Group, Trinity Exploration & Production, Vodafone Group

AGMS

4Imprint Group, Accesso Technology Group, Burford Capital NPV (DI), Cairn Homes (CDI), Chaarat Gold Holdings Ltd. (DI), Chesnara, Forterra, Greggs, Kakuzi Ltd., Metro Bank, Mobeus Income & Growth 4 Vct, Myanmar Strategic Holdings Limited NPV (DI), Myanmar Strategic Holdings Limited NPV (DI), Royal Dutch Shell ‘A’, Standard Life Aberdeen, US Solar Fund, Vivo Energy

TRADING ANNOUNCEMENTS

DP Eurasia N.V. (DI)

UK ECONOMIC ANNOUNCEMENTS

Claimant Count Rate (07:00)

Unemployment Rate (07:00)

FINAL DIVIDEND PAYMENT DATE

Fidelity European Trust, Merchants Trust, Phoenix Group Holdings , Savills, TP Icap Group

Q1

Georgia Capital

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