Thursday looks set to be another busy one with a host of trading updates, economic data and interim results due.
Cinema-chain Cineworld (LON:CINE) will release interims with city analysts expecting it to produce “strong” results on the back of more 3D and 4DX films.
Douglas Jack at Numis expects its UK box office takings to rise 10%, but suggests admissions could be lower than the market “due to Cineworld’s broader film range in a year with numerous potential blockbusters.”
Meanwhile, everybody and their mother seems to be trading ex-dividend on Thursday, with the sheer volume of companies expected to take around 34 points off the FTSE 100.
In economic news, US retail sales will be released on Thursday, with the overall and core readings both seen rising by 0.5% compared to June.
Craig Erlam, senior analyst at Oanda, said: “Consumer spending has been surprisingly weak this year given the moderate wage growth and boost to disposable income from lower energy prices.
“This has been a concern to many who fear it may reflect low wage expectations, an increased desire to save or even worse, low inflation expectations.”
He added that the data will likely steer the Fed in its interest rate decision, with a boost in spending ahead of the September meeting likely to boost the chances of a hike.
Thursday
Interims: Bankers Petroleum (LON:BNK), Cineworld Group (LON:CINE), Coca-Cola HBC (LON:CCH), Derwent London (LON:DLN), Ithaca Energy (LON:IAE), Michael Page International (LON:MPI), Ophir Energy (LON:OPHR), Quarto Group (LON:QRT)
Trading statement: Grainger (LON:GRI), Infinis (LON:INFI), TUI (LON:TUI)
The following widely held stocks are going ex-dividend: Ashtead, AstraZeneca, Berkeley Group, Diageo, Direct Line, Fresnillo, GKN, GlaxoSmithKline, Greene King, HSBC, Legal & General, Lloyds Banking Group, Man Group, Merlin Entertainments, Millennium & Copthorne, Pearson, Pets at Home, Royal Dutch Shell, Schroders, Standard Chartered
Economic: EU - ECB monetary policy meeting accounts. US - Business inventories, Core retail sales, Weekly jobless claims