Tuesday preview: US-China trade, Rolls Royce in the spotlight
The flow of economic data is set to be quite thin, although traders' attention will likely continue to be on the US-China trade spat, particularly the risk of further escalation.
Aerospace and Defence
10,586.86
17:14 22/04/24
FTSE 100
8,023.87
17:09 22/04/24
FTSE 350
4,408.19
17:14 22/04/24
FTSE All-Share
4,362.60
16:44 22/04/24
Rolls-Royce Holdings
406.30p
16:55 22/04/24
Against that backdrop, in the States, only the Federal Reserve's JOLTS labour market survey for July was scheduled for relase, at 1500 BST, followed by a speech from St.Louis Federal Reserve chief, James Bullard, two hours later.
Across the Channel, the main release was set to be a report on German factory orders in June.
No major UK economic reports were due out.
For Rolls Royce, UBS's Celine Ferraro has penciled-in 6.0% revenue growth excluding the engineer's marine unit, with the Power systems division expected to deliver earnings before interest and taxes of £101.0m with a 27/73 split between the first and second halves of 2019.
Total free cash flow meanwhile is seen at -£300m, dragged down by multiple factors including: working capital, a lower contribution of flying hours, a high level of check and repairs, concessions outflow, and a lower level of spare engines.
"Hopefully [Rolls Royce] can reassure investors by reducing further its OE losses (at £1.4mn loss per engine as of Fy18) and explaining the underlying progress on Trent 1000 aircraft on the ground."
Tuesday August 06
INTERIMS
Genel Energy, InterContinental Hotels Group, IWG , Meggitt, Public Joint Stock Company Polyus (REG S) , Rolls-Royce Holdings, Rotork, Synthomer, Synthomer, TP ICAP, Zotefoams
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Factory Orders (GER) (07:00)
Industrial Production (GER) (07:00)
Q2
Public Joint Stock Company Polyus (REG S)
AGMS
GoldStone Resources Ltd
UK ECONOMIC ANNOUNCEMENTS
Retail Sales (00:01)
FINAL DIVIDEND PAYMENT DATE
Intermediate Capital Group, Johnson Matthey