Friday preview: Global factory PMIs, IMI in focus

Barring surprises, the spotlight at the end of the week is expected to be on Caixin's closely-followed factory sector Purchasing Managers' Index for the month of February.

A reading on the manufacturing sector is also due out in Britain, with IHS Markit expected to announce a retreat in its own gauge from a print of 52.8 for January to 52.0 in December.

That PMI will come alongside UK consumer credit and mortgage lending data for the month of January, at 0930 GMT, courtesy of ONS.

In the States meanwhile, the equivalent ISM factory PMI is due out at 1500 GMT and may move markets in so far as it swings the pendulum of market opinion in favour - or not - of those who worry that a sharp slowdown might unfold in the States.

The University of Michigan is also due to release a final reading on US consumer confidence, covering the month of February.

Among those London-listed firms which are slated to publish results are IMI and the London Stock Exchange.

Consensus is calling for the engineer to post full-year profits before tax of £247m, up from £224m in 2017, although Numis's David Larkam is anticipating an improvement to £252m for earnings per share of 72.7p.

According to the analyst, the spotlight would fall on the company's Precision unit, given its 55% contribution to the group's operating earnings on an EBIT basis, the fact that it has the shortest visibility out of all the group's businesses and that it is the most exposed to the industrial cycle.

"Interesting potential in Critical recovery, but questions remain on Precision given the weaker economic outlook coming through this intact will be key for investor views that the recent restructuring/investment has delivered a better business," he said.

As for LSE, in a recent research note analysts at UBS pegged the exchange operator's gross revenues for the back half of 2018 at £1.06bn or flat versus the first six months, while gross profits were seen 7% higher year-on-year.

Both its LCH and indexing arms were seen reporting 10% increases year-on-year to reach £248m and £421m, respectively.

Adjusted EBITDA on the other was anticipated to be down by 4% versus the first half of the year to £523m.

Friday March 01

INTERIMS

Revolution Bars Group

INTERIM DIVIDEND PAYMENT DATE

CPL Resources

QUARTERLY PAYMENT DATE

APQ Global Limited, Funding Circle SME Income Fund, ICG Enterprise Trust, JPMorgan Claverhouse Inv Trust, SQN Asset Finance Income Fund Limited, SQN Asset Finance Income Fund Limited 'C Shares'

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Auto Sales (US) (20:30)

Construction Spending (US) (15:00)

Import Price Index (GER) (07:00)

ISM Manufacturing (US) (15:00)

ISM Prices Paid (US) (15:00)

Personal Income (US) (13:30)

Personal Spending (US) (13:30)

PMI Manufacturing (GER) (08:30)

PMI Manufacturing (EU) (08:00)

PMI Manufacturing (US) (14:45)

Unemployment Rate (EU) (10:00)

Unemployment Rate (GER) (08:55)

FINALS

Coats Group, Essentra, IMI, Jupiter Fund Management , London Stock Exchange Group, Man Group, Mail.ru Group Ltd GDR (Reg S), Rightmove, Robert Walters, William Hill, WPP

AGMS

Actual Experience , AFH Financial Group , PJSC Magnitogorsk Iron & Steel Works GDR (Reg S)

UK ECONOMIC ANNOUNCEMENTS

Consumer Credit (09:30)

M4 Money Supply (09:30)

Mortgage Approvals (09:30)

PMI Manufacturing (08:30)

FINAL DIVIDEND PAYMENT DATE

Blackstone /GSO Loan Financing Limited C Shs NPV, Gooch & Housego, Sage Group, Sanderson Group, Stock Spirits Group