Thursday preview: Chinese trade data, Hargreaves Lansdown in focus

Fresh Chinese foreign trade figures for the month of July will likely keep the market spotlight trained on US-China trade talks on Thursday.

Economists are anticipating that Chinese customs data will reveal a drop in the Asian giant's surplus on foreign trade from $51.0bn for June to $44.2bn in July.

In the background, rate-setters in Manila are set to meet to decide on policy, with economists projecting a cut in the country's official short-term interest rate from 4.50% to 4.25%.

The economic calendar is otherwise quite light,

Across the Channel, Spanish industrial production data for June are due out, alongside the results of the French central bank's industrial business sentiment index for July.

Stateside meanwhile, investors will be keeping tabs on the latest weekly jobless claims data for any signs of weakness and on wholesale inventory figures for June.

Back in the UK, markets' attention will be on RICS's house price balance for July and the Recruitment and Employment Confederation's permanent staff placements and staff salaries indices, all of which are due out shortly after midnight.

Among the main corporates that are set to update financial markets on Thursday is Hargreaves Lansdown.

Oliver Steel at Deutsche Bank is forecasting assets under management of £99.6bn for an 8.7% rise year-on-year, with net flows seen up by 8% or £7.3bn.

For the fourth quarter ending in June, that works out to net flows of £1.9bn with market moves "broadly flat".

In a research note sent to clients, Steel said that he was including further asset inflows of £0.1bn from Witan Investment Trust and £0.2bn from Active Savings within his estimate for fourth quarter net flows.

Hargreaves's cost:income ratio is seen rising from 35.0% in 2018 to 37.0% for 2019 with operating profit margins down from 65.0% to 63.0%.

Thursday August 08

INTERIMS

Arrow Global Group, Aviva, Coca-Cola HBC AG (CDI), Evraz, Hastings Group Holdings , Telecom Egypt SAE GDS (Regs), Temple Bar Inv Trust, Tritax Big Box Reit

INTERIM EX-DIVIDEND DATE

4Imprint Group, Aberforth Smaller Companies Trust, Amino Technologies, AstraZeneca, Avon Rubber, Barclays, Direct Line Insurance Group, Fevertree Drinks, Fresnillo, Hiscox Limited (DI), IMI, Informa, Jupiter Fund Management , Lancashire Holdings Limited, Law Debenture Corp., Lloyds Banking Group, LSL Property Services, Man Group, McColl's Retail Group , Rio Tinto, RM, St. Modwen Properties, Standard Chartered, Vesuvius

QUARTERLY PAYMENT DATE

British American Tobacco, JPMorgan Asian Investment Trust, JPMorgan Japan Smaller Companies Trust

QUARTERLY EX-DIVIDEND DATE

BP, Brunner Inv Trust, Chenavari Toro Income Fund Limited NPV, Ediston Property Investment Company, Fair Oaks Income Limited 2017 Shs NPV, GlaxoSmithKline, IBM Corp., JPMorgan Claverhouse Inv Trust, Picton Property Income Ltd, Unilever

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Continuing Claims (US) (13:30)

Initial Jobless Claims (US) (13:30)

Wholesales Inventories (US) (15:00)

Q2

Telecom Egypt SAE GDS (Regs)

FINALS

Hargreaves Lansdown

SPECIAL EX-DIVIDEND DATE

Aberforth Split Level Income Trust , Artemis VCT, New Century AIM VCT, Northern Bear, Rio Tinto

AGMS

Bould Opportunities, Investec, Majestic Wine, NextEnergy Solar Fund Limited Red, Ovoca Bio, Ventus 2 VCT, Ventus VCT

UK ECONOMIC ANNOUNCEMENTS

RICS Housing Market Survey (00:01)

FINAL DIVIDEND PAYMENT DATE

Caledonia Investments, VP

FINAL EX-DIVIDEND DATE

BT Group, D4T4 Solutions, Diageo, Downing One VCT , Greene King, Henderson Smaller Companies Inv Trust, Invesco Asia Trust, New Century AIM VCT, Northern Bear, Panther Securities, PZ Cussons, U And I Group