Tuesday preview: Global services PMIs, Ashtead in the spotlight

by | Sep 4, 2023

(Sharecast News) – All eyes on Tuesday would be on the Asia Pacific region.

Overnight, private sector survey compiler Caixin was to release its Chinese services sector Purchasing Managers’ Index for August.

It would follow the latest interest rate announcement from Down Under, with rate-setters in Sydney expected to keep short-term rates at 4.1%.

On home shores, S&P Global would publish a final reading for its own services PMI covering that same month at 0930 BST.

Final readings for services PMIs in the single currency bloc were also due out, at 0900 BST.

Stateside, the Treasury was scheduled to hold auctions for debt maturing in three and six months’ time, as well as for 52-week bills.

On the corporate side of things, Ashtead was to report on its first quarter.

For the last quarter of the previous financial year, the equipment rental company posted a bumper set of results, boosted by the resilience of its U.S. arm, Sunbelt, Michael Hewson, chief market analyst at CMC Markets UK pointed out.

Consensus was for an increase in revenues to $2.65bn, up from $2.13bn in the fourth quarter and with Sunbelt expected to contribute the bulk of that, or $2.27bn.

Operating margins meanwhile were pegged to come in unchanged at 30% with net profit seen rising to $476m.

5 September

FINALS

Alumasc Group, Craneware

INTERIMS

Midwich Group, Getbusy, Eurocell, The Pebble Group

Luceco, Johnson Service Group, Ecora Resources, Sigmaroc, Tissue Regenix Group, Headlam Group

STV Group, Gamma Communications

Q1

Ashtead Group

AGMS

Renold, Iomart Group, Smith (DS), Brickability Group

UK ECONOMIC ANNOUNCEMENTS

BRC Sales Monitor (00:01)

PMI Services (09:30)

PMI Composite (09:30)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

PMI Composite (GER) (08:55)

PMI Services (GER) (08:55)

PMI Composite (EU) (09:00)

PMI Services (EU) (09:00)

Producer Price Index (EU) (10:00)

Factory Orders (US) (15:00)

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