Friday preview: UK industrial production, US CPI in the spotlight

The focus at the end of the week will shift back towards the United Kingdom, with a slew of economic data set for release.

At 0930 GMT, the Office for National Statistics will release readings on foreign trade, industrial and manufacturing production and gross domestic product, all covering the month of November.

Investors will also be keeping a close eye on the release of US consumer price data for the month of December at 1330 GMT.

Consensus is calling for a drop in the headline rate of US CPI from a year-on-year pace of 2.2% for November to 1.9% last month.

Core CPI on the other hand is seen holding at 2.2%.

Also due out in the States is the Treasury budget balance covering the month of December.

Across the Channel, Italy and Spain will come out with industrial production data for November, alongside a more timely reading on business sentiment in France.

The end of the week will be light in terms of corporate updates, with Grafton Group being the only FTSE 350 component scheduled to update investors.

Numis's Howard Seymour expects the building materials wholesaler to report that full-year trading was strong in Ireland, Holland and the UK.

"Grafton continues to offer an attractive mix of macro growth (Ireland, Holland), structural growth (Selco in UK) and acquisitive potential and benefits (Holland, LDSM) which will continue to drive sector-leading EBIT and margin growth.

"Grafton is therefore our key pick in the sector and we believe the trading update will be further confirmation that the group is trading in line with expectations against a varied macro backdrop."

Friday January 11

INTERIM DIVIDEND PAYMENT DATE

Brown (N.) Group, Cropper (James), Marks & Spencer Group, Michelmersh Brick Holdings, Norcros, PayPoint, Pets at Home Group , Polar Capital Holdings, Randgold Resources Ltd., Severfield, Tarsus Group, Telford Homes, Triad Group, VP, Wincanton

QUARTERLY PAYMENT DATE

Civitas Social Housing , Civitas Social Housing C Shs, Schlumberger Ltd.

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Business Inventories (US) (15:00)

Consumer Price Index (US) (13:30)

U. of Michigan Confidence (Prelim) (US) (15:00)

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

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

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

SPECIAL DIVIDEND PAYMENT DATE

PayPoint

TRADING ANNOUNCEMENTS

Grafton Group Units

UK ECONOMIC ANNOUNCEMENTS

Balance of Trade (09:30)

Gross Domestic Product (09:30)

Index of Services (09:30)

Industrial Production (09:30)

Manufacturing Production (09:30)

FINAL DIVIDEND PAYMENT DATE

Aeorema Communications, Associated British Foods, Carr's Group, Lok'n Store Group