Week ahead: US data, global trade tensions in focus

The market calendar over the coming week will be back-end weighted with key data releases scheduled both in the States and in China.

In the former, Federal Reserve vice-chairman is due to deliver a speech on Thursday, followed by a raft of data on the next day, including on personal income and spending, factory sector activity in the Great Lakes area and a final reading on the University of Michigan's consumer confidence index for the month of May.

Meanwhile, in the People's Republic of China, Friday will see the release of the 'official' manufacturing sector Purchasing Managers' Index for the month of May.

US-China trade tensions won't be far from investors' minds either, with analysts at Barclays Research telling clients that they believe a trade deal "will remain out of reach", regardless of whether the two countries' leaders meet at the upcoming G-20 meeting in Osaka, Japan, on 28-29 June.

"Toughening rhetoric on both sides not only makes our standoff scenario (sustained tariffs on $200bn of Chinese import plus retaliation measures) but also a potential escalation scenario (tariffs on all Chinese imports and tit-for-tat retaliation) more likely by the day," they said.

Across the Channel, investors will be scrutinising the results of the elections to the European Parliament, on Sunday.

The key economic reports in the euro area are likely to be consultancy GfK's survey of German consumer confidence and the latest money supply data from the European Central Bank, with both due out on Tuesday.

In the UK, and also on Friday, the Bank of England will release mortgage lending and consumer credit data for April.

On the same day, in Japan, fresh data is expected on unemployment, Tokyo CPI excluding food and industrial production.

Monday May 27

QUARTERLY PAYMENT DATE

Tetragon Financial Group Limited

FINALS

Gail (India) Ltd GDR (Reg S)

AGMS

Danakali Limited NPV

Q1

PJSC Acron GDR (REG S)

Tuesday May 28

INTERIMS

Oxford Biodynamics

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Business Climate Indicator (EU) (10:00)

Consumer Confidence (EU) (10:00)

Consumer Confidence (US) (15:00)

Economic Sentiment Indicator (EU) (10:00)

GFK Consumer Confidence (GER) (07:00)

Industrial Confidence (EU) (10:00)

M3 Money Supply (EU) (09:00)

Services Confidence (EU) (10:00)

FINALS

Altitude Group, Amigo Holdings, Kainos Group

ANNUAL REPORT

Volvere

AGMS

Bonhill Group, Comptoir Group, Eddie Stobart Logistics , Emmerson, Gulf Marine Services, IP Group, Matomy Media Group Limited (DI) , Smart Metering Systems, Triple Point Social Housing Reit, Yolo Leisure and Technology

UK ECONOMIC ANNOUNCEMENTS

BBA Mortgage Lending Figures (09:30)

FINAL DIVIDEND PAYMENT DATE

Coats Group, Gocompare.com Group, Impax Environmental Markets, Mobeus Income & Growth 4 Vct, Property Franchise Group, Volga Gas

Q1

AFI Development

Wednesday May 29

INTERIMS

Jadestone Energy Inc NPV (DI)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Import Price Index (GER) (07:00)

MBA Mortgage Applications (US) (12:00)

Unemployment Rate (GER) (08:55)

FINALS

Aveva Group, HarbourVest Global Private Equity Limited A Shs, Stobart Group Ltd., Telford Homes

ANNUAL REPORT

HarbourVest Global Private Equity Limited A Shs

EGMS

Hutchison China Meditech Ltd

AGMS

ASA International Group , Coca-Cola European Partners (DI), DP Eurasia N.V. (DI) , EastPharma Ltd GDR (Reg S), En+ Group GDR (Reg S), International Public Partnerships Ltd., Kcell Joint Stock Co GDR (Reg S), Menhaden, Mod Resources Limited NPV (DI), Oxford Biomedica, PureTech Health , S4 Capital, Sports Direct International, Total SA, Vectura Group, Xeros Technology Group

FINAL DIVIDEND PAYMENT DATE

Bakkavor Group , Fundsmith Emerging Equities Trust , Henry Boot, London Stock Exchange Group, Polypipe Group , StatPro Group, Tribal Group

Q1

PJSC Lukoil ADR

Thursday May 30

INTERIMS

Urban&Civic

INTERIM DIVIDEND PAYMENT DATE

Wetherspoon (J.D.)

INTERIM EX-DIVIDEND DATE

Artemis VCT, Britvic, Cardiff Property, Cerillion , DFS Furniture, Grainger, Greencore Group, IntegraFin Holding, Majedie Investments, On The Beach Group , Princess Private Equity Holding Ltd. (EUR), Sage Group, Stock Spirits Group , UDG Healthcare Public Limited Company

QUARTERLY PAYMENT DATE

Anglo Pacific Group, Greencoat Renewables

QUARTERLY EX-DIVIDEND DATE

BlackRock World Mining Trust, Canadian General Investments Ltd.

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Continuing Claims (US) (13:30)

Crude Oil Inventories (US) (16:00)

GDP (Preliminary) (US) (13:30)

Initial Jobless Claims (US) (13:30)

Pending Homes Sales (US) (15:00)

FINALS

De La Rue, FirstGroup, Helios Underwriting, Johnson Matthey, LondonMetric Property, Pennon Group

SPECIAL DIVIDEND PAYMENT DATE

Croda International, Sabre Insurance Group

SPECIAL EX-DIVIDEND DATE

Artemis VCT

EGMS

F&C Commercial Property Trust Ltd.

AGMS

Air China Ltd., Albion Development VCT, Brady, Cobra Resources, eServGlobal Limited (DI), EU Supply, Frenkel Topping Group, Hvivo, Joint Stock Company National Atomic Company Kazatomprom GDR (Reg S) , Parity Group

TRADING ANNOUNCEMENTS

Daily Mail and General Trust A (Non.V), Johnson Matthey

FINAL DIVIDEND PAYMENT DATE

Aptitude Software Group , Aviva, Contour Global , Croda International, Greggs, Inmarsat, Pendragon, Portmeirion Group, Sabre Insurance Group, Stilo International, Zotefoams

FINAL EX-DIVIDEND DATE

Aberdeen New Thai Inv Trust, Andrews Sykes Group, Bank of Georgia Group, C&C Group, CEIBA Investments Limited NPV, Computacenter, Ebiquity, Filta Group Holdings, Frenkel Topping Group, Gamma Communications, Global Ports Holding, Good Energy Group, Great Portland Estates, Hilton Food Group, Ingenta, JTC, Kakuzi Ltd., Keller Group, Keywords Studios, LXI Reit , Marks & Spencer Group, Mckay Securities, Medica Group , National Grid, Nucleus Financial Group , Pacific Assets Trust, Sigma Capital Group, Spire Healthcare Group, STM Group, The City Pub Group , Whitbread

Friday May 31

INTERIM DIVIDEND PAYMENT DATE

BlackRock Greater Europe Inv Trust, Royal Bank of Scotland 11% Cum. Prf, Royal Bank of Scotland 5.5% Cum. Prf., Symphony International Holdings Ltd.

QUARTERLY PAYMENT DATE

APQ Global Limited, City of London Inv Trust, Custodian Reit , Ediston Property Investment Company, JPMorgan Claverhouse Inv Trust, Picton Property Income Ltd, TwentyFour Select Monthly Income Fund Limited

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Chicago PMI (US) (14:45)

Personal Consumption Expenditures (US) (13:30)

Personal Income (US) (13:30)

Personal Spending (US) (13:30)

Retail Sales (GER) (07:00)

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

GMS

Escape Hunt

FINALS

Charles Stanley Group, Charles Stanley Group, DCD Media, Wizz Air Holdings

SPECIAL DIVIDEND PAYMENT DATE

Admiral Group, Ferrexpo, Symphony International Holdings Ltd.

AGMS

Alba Mineral Resources, Barr (A.G.), Faron Pharmaceuticals Oy (DI), Hostelworld Group , Mail.ru Group Ltd GDR (Reg S), Nostrum Oil & Gas , Raven Property Group Limited, Tiziana Life Sciences, Zhejiang Expressway Co 'H' Shares

UK ECONOMIC ANNOUNCEMENTS

M4 Money Supply (09:30)

Nationwide House Price Index (07:00)

FINAL DIVIDEND PAYMENT DATE

Admiral Group, Cenkos Securities, Clarkson, Elecosoft, Elementis, Empresaria Group, Fevertree Drinks, H&T Group, Harworth Group, Hastings Group Holdings , Highcroft Investment, Hydrogen Group, Informa, LLoyds Banking Group 9.25% Non-Cum Irredeemable Pref Shares, LLoyds Banking Group 9.75% Non-Cum Irredeemable Pref Shares, Luceco , NAHL Group, Playtech, Rightmove, Senior, Soco International, STV Group, TI Fluid Systems, Weiss Korea Opportunity Fund Ltd