Thursday preview: Mitchells & Butlers update, US Q2 GDP in focus
Attention will turn to the US on Thursday amid a dearth of UK data points, but updates from the likes of Mitchells & Butlers and Eve Sleep will keep investors busy in London.
On the corporate calendar, pub group Mitchells & Butlers will put out a trading statement.
CMC Markets analyst Michael Hewson pointed out that the UK pub sector has been in the news for several reasons in recent weeks.
"The acquisition of Greene King for £2.7bn by Hong Kong’s richest man Li Ka-Shing is the latest move which has seen UK pub chains sell off some of its key assets to cope with declining sales and a smaller footprint.
"Recent updates from the sector has seen like for like sales declining as well as lower overall beer volumes, but it’s not all bad news. At its last update Mitchells and Butlers saw profits 8.7% to £75m in the first half of the year, with revenues exceeding £1bn, and investors will be hoping for more of the same when the company reports later this week."
Interim results from mattress specialist Eve Sleep will also be eyed after the company said last week that merger talks with rival Simba had ended and that full-year revenue would be hit by challenging conditions.
Eve concluded that it wasn’t the right time to pursue a potential merger and that it was more appropriate to focus on the Eve rebuild plan announced in March.
On the macroeconomic front, there are no major UK data releases due, but US initial jobless claims, second-quarter GDP and pending home sales are all scheduled for release.
Hewson said the final GDP is likely to be uneventful.
"US consumers helped drive the US economy in Q2 with personal consumption particularly strong. This week’s final revision is unlikely to change that, particularly since unemployment still remains low and jobless claims are stuck in and around the 200k level," he said.
Thursday September 26
INTERIMS
Alfa Financial Software Holdings , Circassia Pharmaceuticals, Ebiquity, Eve Sleep PLC, Northbridge Industrial Services, Pelatro
INTERIM DIVIDEND PAYMENT DATE
Aviva, Frenkel Topping Group, GVC Holdings, Legal & General Group, Provident Financial, Prudential, Reckitt Benckiser Group, Schroders, Schroders (Non-Voting), Wood Group (John)
INTERIM EX-DIVIDEND DATE
Advanced Medical Solutions Group, Bonhill Group, Bovis Homes Group, EMIS Group, Essentra, Fidelity European Values, Gamma Communications, Grafton Group Units, Hansteen Holdings, Huntsworth, Intertek Group, John Laing Group , JPMorgan Russian Securities, JTC, Kenmare Resources, Medica Group , Morrison (Wm) Supermarkets, NAHL Group, Oakley Capital Investments Ltd. (DI), Smurfit Kappa Group, Somero Enterprises Inc. (DI), Strix Group , STV Group, Trans-Siberian Gold, TT Electronics, Urban Exposure, Wynnstay Group
QUARTERLY PAYMENT DATE
Fair Oaks Income Limited 2017 Shs NPV, Kosmos Energy (DI), Volta Finance Limited, Volta Finance Limited NPV (GBP)
QUARTERLY EX-DIVIDEND DATE
Duke Royalty Limited, Mercantile Investment Trust (The), Real Estate Investors, Value and Income Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Continuing Claims (US) (13:30)
Gross Domestic Product (US) (13:30)
Initial Jobless Claims (US) (13:30)
M3 Money Supply (EU) (09:00)
Pending Homes Sales (US) (15:00)
Personal Consumption Expenditures (US) (13:30)
FINALS
Orient Telecoms
SPECIAL EX-DIVIDEND DATE
Diverse Income Trust (The), Hargreaves Lansdown, Jarvis Securities, Morrison (Wm) Supermarkets
AGMS
Alcentra Euorpean Floating Rate Income Fund Ltd Red Ord Shs, Argo Group Ltd., Finncap Group , Ilika, Kainos Group , Kromek Group, NWF Group, Real Good Food , Sure Ventures , Trakm8 Holdings
TRADING ANNOUNCEMENTS
Mitchells & Butlers
FINAL DIVIDEND PAYMENT DATE
XPS Pensions Group
FINAL EX-DIVIDEND DATE
Adept Technology Group, Alumasc Group, Beeks Financial Cloud Group, Brooks Macdonald Group, Draper Esprit VCT, Eckoh, ECO Animal Health Group, Hargreaves Lansdown, IG Group Holdings, Jupiter Green Inv Trust, Kainos Group , Norish Units, Pembroke Vct, Pembroke Vct B, PHSC, Renishaw, United Carpets Group