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07 Jul 2021 | 12:05

Thursday preview: ECB strategy review, Persimmon in focus

(Sharecast News) - Financial markets' focus on Thursday will be on the results of the European Central Bank's strategy review. The results of that review will be published at noon, followed by a press briefing from ECB boss, Christine Lagarde, at 1330 BST.

Notably, they may include the first change to the ECB's inflation target since 2003.

Also due out, at 1230 BST, are the minutes of ECB's last policy meeting.

On home shores, overnight the Recruitment and Employment Confederation will release its Permanent Staff Placements and Salaries indices for the month of June.

They will be published together with the Royal Institute of Chartered Surveyors house price balance for that same month.

Stateside, the spotlight will be on the latest batch of weekly unemployment claims figures.

Economists at Barclays Research forecast that they will reveal a decline in first time jobless claims from 364,000 during the week before to 350,000.

Further afield, and also overnight, policymakers in Malaysia will announce their interest rate decision.

On the corporate side of things, Persimmon is due to publish its first half results.

UBS analyst Gregor Kuglitsch expects the homebuilder will report 7,521 completions for a 53.5% increase on the prior year period and just below the 2019 mark of 7,584.

The company's topline meanwhile was seen improving from £1.1bn to £1.71bn.

Yet markets' focus would be on Persimmon's margins, which he estimated would come in at around 28%.

"Key focus will be on the interplay between pricing and cost inflation," Kuglitsch explained in a research note sent to clients.

"We think on balance, there is upside risk to margins as a result of this dynamic, putting some upside risk to the margin outlook for the year."

Thursday 08 July


CC Japan Income & Growth Trust, Dewhurst, Dewhurst (Non-Voting), Mobeus Income & Growth 4 Vct, Safestore Holdings, Schroder UK Mid Cap Fund, SCS Group , Witan Investment Trust Plc




BlackRock Latin American Inv Trust, BMO Private Equity Trust, British American Tobacco, JPMorgan Asia Growth & Income, JPMorgan Japan Small Cap Growth & Income, Marble Point Loan Financing Limited NPV, Middlefield Canadian Income PCC, Primary Health Properties, Real Estate Credit Investments Ltd, Yew Grove Reit (CDI)


Balance of Trade (GER) (07:00)

Consumer Credit (US) (20:00)

Continuing Claims (US) (13:30)

Current Account (GER) (07:00)

Initial Jobless Claims (US) (13:30)


Augmentum Fintech


Fuller Smith & Turner, Jet2, ReNeuron Group, Watches of Switzerland Group


Albion Venture Capital Trust, Octopus AIM VCT


Active Energy Group, Air Partner, First Derivatives, Great Portland Estates, Hyve Group, JPMorgan European Inv Trust Growth Shares, Land Securities Group, Pets at Home Group , Severn Trent, Templeton Emerging Markets Inv Trust, Third Point Investors Limited NPV $, Worldwide Healthcare Trust


Electrocomponents, Entain, Persimmon


RICS Housing Market Survey (00:01)


Alliance Pharma, Ra International Group


Anglo Pacific Group, Aveva Group, Big Yellow Group, Coca-Cola HBC AG (CDI), Halma, Integrated Diagnostics Holdings, Mobeus Income & Growth 2 Vct, Mountview Estates, Next Fifteen Communications, Octopus AIM VCT, Octopus Apollo VCT, ProVen Growth & Income VCT, ProVen VCT, Sirius Real Estate Ltd., Telecom Plus, Tribal Group, Wincanton, Wynnstay Properties
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