The Bank of England’s monetary policy meeting is one of the biggest items on the agenda this week. By Friday all eyes will be on Brazil as Rio de Janeiro kicks off the Summer Olympics.
Fund Strategy looks at some key events shaping the week and what to expect.
Monday 1 August
- UK Manufacturing Purchasing Managers’ Index
PMI figures in July suggested the UK economy was contracting at its fastest rate since the height of the financial crisis, however, manufacturing fared better than services. The report for manufacturing will be released today, while services will be released on Wednesday.
Tuesday 2 August
- OECD releases its consumer price indices
- UK Construction Purchasing Managers’ Index
- Travis Perkins plc – FTSE 100 building supplies business releases earnings
Wednesday 3 August
- British Retail Consortium-Nielsen Shop Price Index
- US non-farm employment figures.
- Credit Suisse Group – results
- Unicredit results
Italy’s largest bank revealed last week that a deal with Santander to create Europe’s largest asset manager had fallen through – partly due to the uncertain economic environment following Brexit.
Thursday 4 August
- UK Monetary Policy Committee Meeting
Governor Mark Carney surprised markets in July when the hints he’d been dropping about monetary policy easing over the summer failed to materialise. More data has been released since that decision showing signs of trouble in the UK economy, meaning markets are again expecting action.
- London Stock Exchange Group – results
Friday 5 August
- Profitability of UK Companies – quarterly statistics shows the net rate of return on capital employed for businesses’ UK operations.
- US International Trade in Goods and Services Foreign trade deficit data.
- Rio 2016 – Rio de Janeiro hosts the 31st modern summer Olympic Games.