Friday preview: Public sector borrowing, SIG in focus

The focus at the end of the week will be on the government's finances for the month of August, with ONS set to release public sector borrowing data at 0930 BST.

Across the Channel, all eyes will on IHS Markit's Eurozone Purchasing Managers' Index for September.

Consensus is for the so-called composite PMI to edge down by just one tenth of a point to 54.4, with resilience in service sector activity helping to offset weakness in manufacturing.

After the close of markets in London, investors will also be keeping tabs on sovereign debt rating announcement from Standard&Poor's on Spain and from Moody's on Greece.

Homebuilding materials specialist SIG is among the companies that are set to update markets.

Given that the company had already reported on its first half revenues, analysts at UBS expected the focus this time around to be on the group's outlook for the second half of the year and on how it was progressing on its efforts to deleverage.

The Swiss broker's forecasts were calling for "broadly flat" operating earnings on an EBITA basis of £35.0m despite a drop in the company's margins from 2.7% to 2.5%, as a result of weakness in the UK, where margins were seen decreasing by 130 basis points.

UBS also expected guidance for pre-tax profits to be unchanged at £82m for the 2018 financial year, implying "significant catch-up" in the back half of the year as substantial cost benefits come through.

Smiths Group is also scheduled to update markets with its full-year figures, with Deutsche Bank anticipating a below-forecast turnout from Medical and slightly slower growth in financial year 2018 at Detection, offset to an extent by faster growth at John Crane.

On the potential for a tie-up between Smiths Medical and US rival ICU Medical, the broker said it favoured an exit from that line of business altogether.

Nevertheless, they saw an agreement with ICU as a potential catalyst for the shares.

Friday September 21

INTERIM DIVIDEND PAYMENT DATE

Anglo American, Baronsmead Second Venture Trust, Baronsmead Venture Trust, Capital & Counties Properties , Clarkson, FDM Group (Holdings), Henderson Opportunities Trust, Hikma Pharmaceuticals, Hostelworld Group , Ibstock , Low & Bonar, Marshall Motor Holdings, Mobeus Income & Growth Vct, National Express Group, Polypipe Group , Rotork, Stock Spirits Group , Ultra Electronics Holdings, Vesuvius, Virgin Money Holdings (UK)

QUARTERLY PAYMENT DATE

Alpha Real Trust Ltd., BlackRock World Mining Trust, BP, Brunner Inv Trust, UIL Limited (DI)

FINALS

Smiths Group

ANNUAL REPORT

Redrow

SPECIAL DIVIDEND PAYMENT DATE

Quilter

EGMS

AXA Property Trust Limited

AGMS

Byotrol, Fusion Antibodies , Mercia Technologies , Sirius Real Estate Ltd., Sysgroup, Tungsten Corporation

UK ECONOMIC ANNOUNCEMENTS

CBI Industrial Trends Surveys (11:00)

Public Sector Net Borrowing (09:30)

FINAL DIVIDEND PAYMENT DATE

Best of the Best, Creightons, Dixons Carphone , FIH Group , JPMorgan Brazil Inv Trust , Miton UK Microcap Trust, Northgate, SSE, Superdry