Friday preview: Euro area Q2 GDP, IAG in the spotlight

by | Jul 29, 2021

Financial markets’ focus at the of the week will pivot to the Continent, where preliminary readings for second quarter gross domestic product are scheduled in several countries, including in the European Union’s four largest economies.
They will be followed at 1000 BST by a reading on euro area-wide GDP.

A raft of economic data is also due out across the Pond.

They include figures on personal incomes and spending in June and a final reading on consumer confidence in July, the latter courtesy of the University of Michigan.

On home shores meanwhile, the sole new data point due out is Lloyds’s UK business barometer for July.

For IAG’s first half, UBS’s Jarrod Castle has penciled second quarter revenues of €1.3bn on the back of improved traffic levels and up from €1.0bn in the prior quarter.

Losses before interest and taxes meanwhile are expected to have narrowed from -€1.4bn one year back to -€1.1bn this time around.

According to Castle, investors will be focus on the group’s forward bookings, the impact of the traffic light system, the potential for a further reopening of the market, especially the North Atlantic routes, cash burn and any financial building blocks for the back half of 2021.

Friday 30 July

INTERIMS

Essentra, IMI, International Consolidated Airlines Group SA (CDI), Intertek Group, Jupiter Fund Management , Man Group, NATWEST GROUP PLC ORD 100P, Rightmove

INTERIM DIVIDEND PAYMENT DATE

BP 8% Cum 1st Prf, BP 9% 2nd Prf, Character Group, Gooch & Housego, Hargreave Hale AIM VCT , S and U 31.5% Prf. Cum. Prf 12.5P, Smiths News , Triple Point Income VCT C, Triple Point Income VCT D, Triple Point Income VCT E, Triple Point VCT 2011 Venture, Up Global Sourcing Holdings

QUARTERLY PAYMENT DATE

BMO Private Equity Trust, Ediston Property Investment Company, Marble Point Loan Financing Limited NPV, Middlefield Canadian Income PCC, Real Estate Credit Investments Ltd, Standard Life Private Equity Trust, TwentyFour Select Monthly Income Fund Limited , Value and Indexed Property Income Trust

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Chicago PMI (US) (14:45)

GDP (Preliminary) (EU) (10:00)

GDP (Preliminary) (GER) (07:00)

Import Price Index (GER) (07:00)

Personal Consumption Expenditures (US) (13:30)

Personal Income (US) (13:30)

Personal Spending (US) (13:30)

U. of Michigan Confidence (US) (15:00)

Unemployment Rate (EU) (10:00)

Q2

NATWEST GROUP PLC ORD 100P

GMS

Sutton Harbour Group

FINALS

Victoria

IMSS

Kerry Group ‘A’ Shares (CDI)

SPECIAL DIVIDEND PAYMENT DATE

Albion Venture Capital Trust

EGMS

Castillo Copper Limited NPV (DI)

AGMS

Advanced Oncotherapy, Bezant Resources, Danakali Limited NPV, DP Poland, Edenville Energy , Puma Vct 13, Supply@Me Capital

TRADING ANNOUNCEMENTS

Glencore , Paragon Banking Group, Vodafone Group, Yamana Gold Inc. NPV (CDI)

FINAL DIVIDEND PAYMENT DATE

Anpario, B.P. Marsh & Partners, Big Yellow Group, Calculus VCT , Hibernia Reit (CDI), iEnergizer Ltd., Inspiration Healthcare Group , JPMorgan European Discovery Trust, Mobeus Income & Growth 2 Vct, Morses Club , Norcros, Premier Foods, ProVen Growth & Income VCT, ProVen VCT, Riverfort Global Opportunities , Steppe Cement Ltd, Telecom Plus

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