Now that the tensions in North Korea seem to have eased off, attention will move back to the health of the UK economy on Wednesday, with official wages and jobs data due.
Wage increases have continued to fall behind inflation, with data from the ONS for the three months to May showing average earnings, excluding bonuses, rose by 2.0% year-on-year, while real wages, including the impact of inflation, fell by 0.5% in that three month period.
ING predicts the latest UK average earnings growth to remain at 2.0% for the three months to June, when the data is released on Wednesday.
UK unemployment also dropped in May, down 64,000 to 1.49mln, while the jobless rate fell by 0.2% to 4.5%, its lowest since 1975.
Figures for the three months to June, also due on Wednesday, are forecast to see the unemployment rate hold at 4.5%, although ING are predicting a 100,000 rise in the jobless count.
Admiral solid despite Ogden cut
On the corporate front, the traditional summer lull sees fewer blue chip news releases but there will still be some highlights, including Admiral Group PLC (LON:ADM).
Shares in the motor insurance outfit are up 18% year-to-date but have lagged those of sector peers esure and Hastings Group.
They have at least outdone sector leader Direct Line, but investors will be hoping for a bit of va-va-voom in Wednesday's results.
The half-year report from Direct Line at the beginning of the month provided some comfort, with Direct Line reporting that the impact from the change in the Ogden rate – the discount rate applied to personal injury claims – was not as severe as feared.
In its 2016 results Admiral estimated the cost of the change in the Ogden rate on open claims at about £150mln; much of that hit was recognised in the 2016 results with around £65mln expected to be recognised in coming years.
The change did not prevent the insurer from continuing to pay a handsome dividend; the shares yield more than 5% so the level of the interim dividend will be of interest to income investors.
Significant announcements expected
Interims: Admiral PLC (LON:ADM), Balfour Beatty plc (LON:BBY), CLS Holdings (LON:CLI), Hochschild Mining PLC (LON:HOC), Lookers PLC (LON:LOOK)
Economic data: UK unemployment, average earnings