Tuesday preview: US jobs market, Micro Focus in the spotlight

The focus on Tuesday will continue to be on the US jobs market and the country's central bank.

Informing market views on the former, the National Federation of Independent Businesses' small business confidence index covering the month of June is set for release at 1100 BST, followed by the JOLTS labour market survey for May at 1500 BST.

In terms of Fedspeak, St.Louis Fed president, James Bullard, is scheduled to deliver a speech at 1510 BST, followed by a speech from his opposite number at the Atlanta Fed at 1900 BST.

No major economic releases are expected in the UK.

As ever, surprises are possible at almost any moment on the US-China trade front.

Among the companies slated to update investors on Tuesday is Micro Focus.

Analysts at UBS anticipate the software maker will announced first half sales down 6% from a year ago at $1,645m with earnings before interest, taxes, depreciation and amortisation seen at $684m for earnings per share of $0.93.

That would compare to consensus for the topline at $1,675m, EBITDA of $674m and EPS of $0.94.

Some analysts might be anticipating a better year-on-year trend for the first half versus the second, due to the favourable comparables, UBS said, but added that "we would expect management to prefer to report a steadily improving linear progression."

In terms of the European Software and IT Services sector as a whole, analysts at Barclays expressed a cautious view on the space on Monday, telling clients that forecasts for gross domestic product were being revised lower and tail risks seemingly increasing.

"Yet stocks remain at elevated levels, the differential between growth and value remains extreme and European software is hitting new highs," they pointed out.

"Negative pre-announcements are already up and, with many stocks priced to perfection, any missteps are likely to be harshly punished."

Tuesday July 09

INTERIMS

Amino Technologies, K3 Business Technology Group, Micro Focus International, RM

FINALS

Knights Group Holdings , Photo-Me International, Synnovia

AGMS

Brown (N.) Group, Capital Gearing Trust, Chariot Oil & Gas Ltd., Keystone Law Group , Kingfisher, Marks & Spencer Group, Mountfield Group, RDLZ Realisation , Worldwide Healthcare Trust, Young & Co's Brewery 'A' Shares

TRADING ANNOUNCEMENTS

Robert Walters

UK ECONOMIC ANNOUNCEMENTS

BRC Shop Price Index (00:01)

FINAL DIVIDEND PAYMENT DATE

Plus500 Ltd (DI)