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Thursday preview: US Q2 GDP, Barclays in focus

By Alexander Bueso

Investors’ attention on Thursday will be on whether the US entered a so-called ‘technical’ recession, widely defined as two consecutive quarters of negative growth, during the second quarter.
At 1330 BST the Department of Commerce was expected to report a 0.5% annualised rise in gross domestic product for the three months to June, although some economists were anticipating a second successive drop in activity.

Inflation indicators contained in the same report will likely also be closely scrutinised.

Across the Channel, the market spotlight will fall on preliminary German consumer price data for July at 1300 BST.

Consensus is for a dip in the annual rate of CPI from 8.2% for June to 8.1% this time around.

Readings on euro area consumer and industrial confidence, also covering the month of July, at 1000 BST may also prove to be a talking point.

On home shores, the sole economic report due out was the Society of Motor Manufacturers and Traders’ car, CV and manufacturing figures for June.

For Barclays’s first half numbers, analysts were focusing on the potential for further costs to the lender on account of the regulatory investigation into some of its trading products in the US.

And despite the improved interest rate environment, the impact of the cost-of-living squeeze, not least in the UK, meant that the risk of rising credit card arrears was also on analysts’ radar.

All told, analysts were not expecting a further share buyback announcement.

Thursday 28 July

INTERIMS

Barclays, Centrica, Hammerson, Inchcape, Rathbones Group, Relx plc, Rentokil Initial, Restore, Robert Walters, SEGRO, Shell ‘A’, Shell ‘B’, Smith & Nephew, St James’s Place

INTERIM DIVIDEND PAYMENT DATE

Compass Group

INTERIM EX-DIVIDEND DATE

Blackrock Throgmorton Trust, Independent Inv Trust, Maven Income & Growth 3 VCT, Maven Income and Growth VCT 5, Moneysupermarket.com Group

QUARTERLY EX-DIVIDEND DATE

NB Global Monthly Income Fund Limited Red Ord Shs NPV £, Tufton Oceanic Assets Limited NPV

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Business Climate Indicator (EU) (10:00)

Consumer Confidence (EU) (10:00)

Continuing Claims (US) (13:30)

Economic Sentiment Indicator (EU) (10:00)

GDP (Preliminary) (US) (13:30)

Industrial Confidence (EU) (10:00)

Initial Jobless Claims (US) (13:30)

Services Sentiment (EU) (10:00)

Q2

Samsung Electronics Co Ltd (ATT) GDR (Reg S), Shell , Shell ‘A’, Shell ‘B’, Smith & Nephew

FINALS

SRT Marine Systems

SPECIAL EX-DIVIDEND DATE

Bytes Technology Group , Tristel

AGMS

Alien Metals Limited NPV (DI), B&M European Value Retail S.A. (DI), CMC Markets, Cyba, Discoverie Group, Eurasia Mining, GB Group, Graft Polymer (UK) , Ingenta, Ingenta, Mediclinic International , Oxford Instruments, Seen, Tate & Lyle, Ted Baker, The Global Smaller Companies Trust

TRADING ANNOUNCEMENTS

Aveva Group, Sage Group, Virgin Wines UK

FINAL DIVIDEND PAYMENT DATE

Anglo Asian Mining, Templeton Emerging Markets Inv Trust, Tribal Group

FINAL EX-DIVIDEND DATE

Bloomsbury Publishing, Bytes Technology Group , Celtic 6% Cnv Cum Prf, Downing One VCT , Heath (Samuel) & Sons, Monks Inv Trust, NewRiver REIT, Northern 2 VCT, Octopus AIM VCT, QinetiQ Group, Quixant, Redcentric, Royal Mail, SSE, Triad Group

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