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Friday preview: A quiet start to December

By Oliver Haill

Date: Thursday 30 Nov 2017

LONDON (ShareCast) - (ShareCast News) - Friday 1 December is very quiet in the corporate diary, with no major companies expected to report results, but a range of data to sift through, for those inclined.
In the UK, the manufacturing purchasing managers' index from IHS Markit and the CIPS will provide more soft data on this area of the economy.

A month ago, manufacturing activity and input prices were both shown to have increased more than expected in October and in November the consensus is for a further strengthening to 56.5 in the index from 56.3.

Manufacturers are likely to continue having benefited from the upswing in the Eurozone, said Pantheon Macroeconomics, after the flash Eurozone manufacturing PMI rose to an 81-month high of 60.0 in November.

"That said, the domestic market is weak and capacity constraints are emerging. The CBI's balance of manufacturers expecting output to rise in November fell to its lowest level since August 2016, despite rapid growth in orders."

Final November PMIs are due for the eurozone and several countries, while over the Atlantic, Markit's manufacturing PMI, the ISM manufacturing index, construction spending data and November vehicle sales data for the US is all being released.

For the ISM manufacturing figures for November, Danske Bank expected that, based on regional PMIs, there will be a slight increase in ISM, though the Markit PMI tells a completely different story. "Hence, uncertainty is large, but we expect a slight fall to 58.0."

The consensus is for an even more modest fall to 58.4 from the 58.7 from October.

Asia's macro week will end with the final November manufacturing PMIs in Japan from Nikkei and China's Caixin.

Deusche Bank also said it was worth noting is the various Fedspeak with Bullard, Kaplan and Harker all due.



Friday December 01

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Construction Spending (US) (15:00)
ISM Manufacturing (US) (15:00)
ISM Prices Paid (US) (15:00)
PMI Composite (EU) (09:00)
PMI Composite (GER) (08:55)
PMI Manufacturing (GER) (08:55)
PMI Manufacturing (EU) (09:00)
PMI Manufacturing (US) (14:45)
PMI Services (EU) (09:00)
PMI Services (GER) (08:55)

UK ECONOMIC ANNOUNCEMENTS
PMI Manufacturing (09:30)

Q3
PJSC Megafon GDR (Reg S)

SPECIAL DIVIDEND PAYMENT DATE
Electra Private Equity

AGMS
Aberdeen Asian Smaller Companies Investment Trust, DFS Furniture, Green Reit, Haydale Graphene Industries, James Halstead, Purecircle Limited (DI), Ruffer Investment Company Ltd Red PTG Pref Shares, Starvest

FINAL DIVIDEND PAYMENT DATE
Ashmore Group, Clinigen Group, Ferguson, Genesis Emerging Markets Fund Ltd Ptg NPV, Genus, James Halstead, JPMorgan Emerging Markets Inv Trust, Kier Group, Mcbride, Urals Energy Public Co Ltd. (DI)

INTERIM DIVIDEND PAYMENT DATE
Action Hotels, Anpario, Balfour Beatty, Hargreave Hale AIM VCT 2, Hilton Food Group, Laird, Mission Marketing Group, Scottish Mortgage Inv Trust

INTERIM EX-DIVIDEND DATE
First Property Group

QUARTERLY PAYMENT DATE
Chenavari Toro Income Fund Limited NPV, JPMorgan Claverhouse Inv Trust