Thursday preview: US jobs market, Melrose Industries in focus

The market spotlight will remain firmly on the US jobs market come Thursday.

Initial weekly jobless claims data due out at 1330 BST are expected to show a dip from 1.006m pace observed over the week ending on 29 August to 978,000.

The Institute for Supply Management's services sector Purchasing Managers' Index for August is also due out.

Both reports may influence economists' forecasts for the monthly non-farm payrolls number due out on the following day.

Comparable services PMIs are due out earlier in the UK and the euro area.

However, whereas the former is expected to show that activity in the sector accelerated last month, in the Eurozone it in fact slowed.

For turnaround specialist Melrose Industries's first half, UBS's Celine Fornaro is anticipating revenues of £4.35bn and operating profits of £156m.

Fornaro has also penciled-in sales of £4.46bn and operating profits of £259m for the backhalf of the 2020.

In particular, she pointed out the risk of higher than anticipated restructuring charges linked to aerospace programmes for large engines.

Aside from restructuring costs and benefits, she also expected the company to update shareholders on cash-burn and business trends.

"Any commentary around the Autos & Nortek businesses, 2H revenues trends/ orders/ cash would help," she added.

Thursday 03 September

INTERIMS

Alpha Fx Group , Curtis Banks Group, DCD Media, Foresight Solar Fund Limited, Gulf Keystone Petroleum Ltd Com Shs (DI), Headlam Group, Melrose Industries, MHP SE GDR (Reg S), MPAC Group, PPHE Hotel Group Ltd

INTERIM EX-DIVIDEND DATE

Admiral Group, Aggreko, Antofagasta, Apax Global Alpha Limited , Aviva 8 3/8% Cumulative Irrd Preference 1, Bristol Water 'A' 8 3/4% Cum Irrd Prf, Capital Limited (DI), Convatec Group , CRH, Downing Four VCT DP67 , General Accident (Prf), H&T Group, John Menzies 9% Cumulative Preference 1, Maven Income & Growth 4 VCT, Polymetal International, Quilter, Rathbone Brothers, S and U 6% Cumulative Prf. £1

QUARTERLY EX-DIVIDEND DATE

Contour Global , Diversified Gas & Oil, Premier Global Infrastructure Trust, Raven Property Group 6.5% Red Cnv Pref Shs NPV, Regional REIT Limited, RM Secured Direct Lending, UIL Limited (DI)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Balance of Trade (US) (13:30)

Continuing Claims (US) (13:30)

Industrial Production (GER) (07:00)

Initial Jobless Claims (US) (13:30)

ISM Prices Paid (US) (15:00)

ISM Services (US) (15:00)

PMI Composite (EU) (09:00)

PMI Composite (GER) (08:55)

PMI Composite (US) (14:45)

PMI Services (EU) (09:00)

PMI Services (GER) (08:56)

PMI Services (US) (14:45)

Retail Sales (EU) (10:00)

Q2

MHP SE GDR (Reg S)

FINALS

NCC Group

SPECIAL EX-DIVIDEND DATE

Admiral Group

AGMS

Albion Enterprise VCT, Dart Group, Foresight 4 VCT, Invesco Asia Trust, Jlen Environmental Assets Group Limited NPV, Ninety One , Severfield, Value and Income Trust

UK ECONOMIC ANNOUNCEMENTS

PMI Services (09:30)

FINAL EX-DIVIDEND DATE

Aviva 8 3/4% Cumulative Irrd Preference 1, BHP Group, Gresham House Strategic , Miton UK Microcap Trust, Solid State