Sharecast News
02 Dec, 2020 19:47 02 Dec, 2020 19:47

Thursday preview: Global services, Paragon Banking Group in focus

financement-participatif 20200106163320

Investors will be focused on a raft of survey results for the global services sector on Thursday.

Both in the UK, but especially in the euro area, economists' forecasts are calling for final readings to be unchanged from the preliminary ones published roughly two weeks before and to remain consistent with a substantial slowdown in activity levels.

Stateside on the other hand, the Institute for Supply Management's survey for the sector was expected to hold near the previous month's level, at 56.0, which was indicative of a still rapid pace of growth.

The latest batch of weekly US jobless claims figures would also be closely scrutinised for any further signs of weakness in hiring.

Towards noon, the Organisation of Petroleum Exporting Countries and its main allies are expected to announce whether or not they intended to extend their curbs on crude oil supplies into 2021.

On the corporate side of things, and for Paragon Banking Group's full-year numbers, UBS's Jason Napier has penciled-in a drop in the lender's underlying profits before tax from £116m in 2019 to £59m.

However, other operating income was expected to drop by 12% due to the ongoing drag from estimated credit losses (ECLs).

The lender's common equity Tier one capital ratio on the other hand strengthened from 14.4% at the end of the first half to 14.8%, he predicted.

In parallel, Paragon's net interest margin was pegged to come in at 2.27% for the year ended in September and at 2.21% for the second half.

"Updates on credit spreads, deposit/funding costs, forbearance and asset quality movement are key areas to watch for," Napier added.

Thursday 03 December

INTERIMS

Clipper Logistics

INTERIM EX-DIVIDEND DATE

3i Group, Aberdeen Japan Investment Trust , Big Yellow Group, Cake Box Holdings, Caledonia Investments, Circle Property , CML Microsystems, Devro, Edge Performance VCT 'H' Shares, Finncap Group , First Property Group, Helical, Hill & Smith Holdings, Hochschild Mining, IG Design Group, Montanaro European Smaller Companies Trust, Pets at Home Group , RDI Reit , Record, Renold 6% Cum. Prfd., RHI Magnesita N.V. (DI), Severn Trent, Templeton Emerging Markets Inv Trust, Wynnstay Properties

QUARTERLY EX-DIVIDEND DATE

Contour Global , Premier Miton Global Renewables Trust, RM Secured Direct Lending, UIL Limited (DI)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Continuing Claims (US) (13:30)

Initial Jobless Claims (US) (13:30)

ISM Prices Paid (US) (15:00)

ISM Services (US) (15:00)

PMI Composite (EU) (09:00)

PMI Composite (GER) (08:55)

PMI Services (EU) (10:00)

PMI Services (GER) (08:55)

Retail Sales (EU) (10:00)

GMS

STV Group

FINALS

AJ Bell, CareTech Holding, Countryside Properties, Impax Asset Management Group, Oxford Metrics, Paragon Banking Group, Tritax Eurobox (GBP)

SPECIAL EX-DIVIDEND DATE

GCP Asset Backed Income Fund Limited, Templeton Emerging Markets Inv Trust

EGMS

B&M European Value Retail S.A. (DI), CEIBA Investments Limited NPV, PJSC Lukoil ADR

AGMS

Baillie Gifford Japan Trust, CQS New City High Yield Fund Limited, Ferguson, Jubilee Metals Group, Marwyn Value Investors Limited, Meikles Ltd., MJ Gleeson , Nanoco Group, Ormonde Mining, Pipehawk

UK ECONOMIC ANNOUNCEMENTS

PMI Services (09:30)

Retail Sales (23:01)

FINAL DIVIDEND PAYMENT DATE

PZ Cussons

FINAL EX-DIVIDEND DATE

AVI Global Trust , Aviva 8 3/4% Cumulative Irrd Preference 1, Carr's Group, Daily Mail and General Trust A (Non.V), Fidelity Special Values, General Accident 'A', Pan African Resources, Rotork 9.5% Cum Prf. #1, Royal Bank of Scotland 11% Cum. Prf, Royal Bank of Scotland 5.5% Cum. Prf., Scottish Oriental Smaller Companies Trust, Town Centre Securities, YouGov

News Source: © 2021 Web Financial Group (UK) Limited. All rights reserved. Terms of use and legal notice

Important Legal Notice about News Sources: Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author. We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.

 

Important Legal Notice about News Sources

 

Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.