London Report: UK’s second quarter growth and minutes from Bank in focus

THE first estimate of gross domestic product data for the second quarter is likely to be closely watched after hints of a rate rise later this year.

The minutes of the July meeting of the Bank of England’s Monetary Policy Committee will also be of interest, for the same reason, and retail sales figures will also be keenly watched.

Analysts predict the UK economy to have grown by 0.8 per cent in the quarter – the same growth as for the previous three months.

Howard Archer, of IHS Global Insight, said, “GDP growth is forecast to have been stable ... but there is a significant risk that there was some moderation in growth.”

Corporate results for the week include Microgen and WH Ireland today, ARM Holdings, Beazley, IG Group, Premier Foods and QinetiQ tomorrow and Brewin Dolphin, Capita, GlaxoSmithKline and Sage Group on Wednesday. Britvic, Close Brothers, Daily Mail and General Trust, easyJet, Kingfisher, Marston’s Rathbone Brothers, Reed Elsevier, SABMiller, Tate & Lyle and Unilever report on Thursday. African Barrick Gold, AG Barr, Alliance Trust, Anglo American, British Sky Broadcasting, Pearson, United Utilities and Vodafone report on Friday.