UK focus on ECB meeting outcome

THURSDAY will be the highlight of the week for economists, with all eyes on results of the European Central Bank policy meeting.

While the market waits to hear the latest plans to fix the Eurozone’s debt problem, the Bank of England will also be announcing its latest interest rate decision and asset purchase plan.

However, no change is expected as the Bank is currently in the middle of its latest round of asset purchases.

Today’s economic news includes PMI manufacturing data and British Retail Consortium like-for-like sales information.

Meanwhile, City of London Investment Group and Cupid are expected to update the market.

Tomorrow’s UK economic news includes Halifax’s house prices report, plus PMI construction data, plus a raft of reports from the US, including construction spending figures and vehicle sales.

Reports are expected from Spirit Pub Co, Hydro, Dechra Pharmaceuticals, Genus, Johnson Service Group, Monitise, DS Smith, McBride and Craneware.

Wednesday’s news includes PMI Services while corporate reports are expected from Advanced Medical Solutions Group, Hargreaves Lansdown, Berkeley Group, and Sports Direct.

On Thursday the focus will be on any announcement from ECB president Mario Draghi.

Reports are due from Go-Ahead Group, Hydro International, Interior Services, Whitbread and WM Morrison. Seymour Pierce gives Morrison’s a “hold” rating as first half results will “show negligible growth at best, reflecting the difficult and highly promotional market place”.

At the end of the week, Friday’s economic news is set to include data on new car registrations, plus details on inflation, industrial production, manufacturing and information from the Producer Price Index.

Corporate reports are also expected from Circle Oil, JD Sports, Laura Ashley and Prezzo.