Tuesday preview: Mony Group results, UK jobs data in focus

(Sharecast News) - Tuesday will bring the release of interim results from Mony Group and trading updates from caterer Compass and construction group Kier. Swiss pharmaceutical firm Novartis will release second-quarter results, while in the US, quarterly numbers are due from 3M, General Motors and Halliburton.

On the macroeconomic calendar, there will be a raft of UK data releases, with the unemployment rate, claimant count, average earnings and the latest public sector net borrowing figures all due.

Neil Wilson, UK investor strategist at Saxo Markets, said: "The weakness in the labour market has been a constant concern for the Bank of England and underscored why there is no need to raise interest rates despite the uptick in inflation from the Middle East conflict.

"Although the unemployment rate ticked down to 4.9% from 5.0%, payrolls were down 0.5% on the year to April and were 0.4% lower to May based on early estimates, while job vacancies continued to decline to the lowest level since 2021. Against such a weak hiring environment wage growth has also notably cooled with private sector earnings growth at a five-year low."