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Tuesday preview: UK jobs data, Entain in focus

The focus in financial markets on Tuesday will be on the latest UK labour market data, which is expected to show a dip in the rate of unemployment and a modest slowdown in wage growth.

Consensus is for the jobless rate to have ticked lower by one tenth of a percentage point to 4.5% over the three months ending in August when compared with the prior three-month stretch.

The annual rate of average weekly earnings meanwhile was seen slowing to 6.9% from 8.3% over the three months ending in July.

Nonetheless, economists at Barclays Research warn that the figures from the Office for National Statistics will still be reflecting the roughly 1.0m Britons who were still on furlough during that month.

Jobs will also be in focus in the States, where the Department of Labor is due to publish its JOLTS labour market survey for the month of August at 1500 BST.

Across the Channel meanwhile, the spotlight will be on European Central Bank chief economist, Philip Lane, as he speaks at the joint SUERF/EIB/Columbia/Societe Generale conference on “EU and US Perspectives: Changing climates”.

Also due out, at 1000 BST in Germany, is the ZEW institute’s economic confidence index for October.

Further afield, rate-setters in South Korea are due to meet and decide on interest rates with economists anticipating no change in the central bank’s seven-day repurchase rate.

On the corporate side of things, the market spotlight will be on Entain. The sportsbetting group recently received a $22bn bid from US rival DraftKings, but some investors believed that a deal was likely to fall through.

According to CMC Markets UK’s chief market analyst, Michael Hewson, there was also the risk that competition authorities might stick their noses in.

Tuesday 12 October

INTERIM DIVIDEND PAYMENT DATE

Randall & Quilter Investment Holdings (DI)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

ZEW Survey (EU) – Economic Sentiment (10:00)

ZEW Survey (GER) – Current Situation (10:00)

ZEW Survey (GER) – Economic Sentiment (10:00)

FINALS

DX (Group), Maestrano Group, YouGov

ANNUAL REPORT

Thorpe (F.W.)

EGMS

SK Telecom Co Ltd. ADS

AGMS

City of London Group, Clipper Logistics

UK ECONOMIC ANNOUNCEMENTS

Claimant Count Rate (07:00)

Retail Sales (00:01)

Unemployment Rate (07:00)

FINAL DIVIDEND PAYMENT DATE

Mercia Asset Management

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