Thursday preview: US Q2 GDP, CRH in the spotlight

by | Aug 25, 2021

Investors’ focus on Thursday will be on gross domestic product data in the US that will offer investors a first glimpse into how the economy fared over the three months to June.
Forecasts are for GDP growth of approximately 6.9% quarter-on-quarter, which would mark a small acceleration from the pace observed over the first quarter.

Across the Channel meanwhile, the European Central Bank meanwhile will release the minutes of its most recent policy meeting.

Also due out is a reading on money supply growth in July across the euro area, which can sometimes provide important clues about the outlook for growth.

On home shores, car and engine manufacturing figures for July are scheduled for release.

Across the globe, in Asia, rate-setters in South Korea will meet to decide on interest rates.

On the corporate side of things, the market spotlight will fall on CRH.

For the building materials supplier’s first half, UBS analyst Gregor Kuglitsch has penciled-in a 12% jump in sales to $13.7bn.

Earnings before interest, taxes, depreciation and amortisation are seen 20% higher to $1.91bn, for an 80% surge in earnings per share to 51 US cents.

Like-for-like sales are seen up 8% with the key focus to be on guidance for the second half, Kuglitsch said.

“We think there is modest upside risk to this forecast but expect CRH to be somewhat vague and guide for progress in H2, without being more specific.”

Thursday 26 August

INTERIMS

Chesnara, CRH (CDI), Faron Pharmaceuticals Oy (DI), Glenveagh Properties (CDI), Hunting, Macfarlane Group, PJSC RusHydro ADR

INTERIM DIVIDEND PAYMENT DATE

Ferrexpo

INTERIM EX-DIVIDEND DATE

4Imprint Group, Apax Global Alpha Limited , Arbuthnot Banking Group, Ariana Resources, Aviva, Capital & Counties Properties , Drax Group, Foxtons Group , Keystone Positive Change Investment Trust 5% Cumulative Preference 1, Mondi, OSB Group , Plus500 Ltd (DI), RHI Magnesita N.V. (DI), Rights & Issues Investment Trust , Secure Trust Bank, St James’s Place, Symphony International Holdings Ltd., Ultra Electronics Holdings

QUARTERLY PAYMENT DATE

Tetragon Financial Group Limited

QUARTERLY EX-DIVIDEND DATE

BlackRock World Mining Trust, HICL Infrastructure , Land Securities Group, NB Global Monthly Income Fund Limited Red Ord Shs NPV £, Round Hill Music Royalty Fund Limited NPV, Wheaton Precious Metals Corp.NPV (CDI)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Continuing Claims (US) (13:30)

Durable Goods Orders (US) (13:30)

GFK Consumer Confidence (GER) (07:00)

Gross Domestic Product (GER) (07:00)

Initial Jobless Claims (US) (13:30)

M3 Money Supply (EU) (09:00)

FINALS

Hays

SPECIAL EX-DIVIDEND DATE

Melrose Industries

AGMS

Braemar Shipping Services, D4T4 Solutions, New Century AIM VCT, Triple Point Energy Efficiency Infrastructure Company

TRADING ANNOUNCEMENTS

Hays

FINAL DIVIDEND PAYMENT DATE

QinetiQ Group

FINAL EX-DIVIDEND DATE

Appreciate Group, Auto Trader Group , Brickability Group , Diageo, Gateley (Holdings) , Henderson Smaller Companies Inv Trust, XPS Pensions Group

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