Market indexes likely to prove mixed in short trading week
TODAY
The purchasing managers index (PMI) manufacturing reading is expected at 50.7 against 51.2 previously. This is a sector that performed strongly after the banking crisis, but which is now struggling. A reading less than 50 would indicate that the UK manufacturing sector is contracting.
Earnings: Punch Taverns.
TUESDAY
The PMI construction reading is expected at 53.5, against 54.3 previously. Construction is a sector that is hovering in growth territory, but has struggled to push.
Earnings: Johnston Press, Huntsworth, and Gulfsands Petroleum.
WEDNESDAY
The PMI services reading is expected at 53.4, against a previous 53.8. The sector is remaining in growth territory but, as with construction, it is struggling to break out.
Earnings: Desire Petroleum, PLUS Markets.
Ex-Dividends: 4Imprint, Amino Tech, Amlin, Avesco Group, Begbies Traynor, Bodycote, Dialight, Interserve, Jardine Lloyd, MDY Healthcare, Melrose, Pearson, Rentokil, Savills, and Wolseley.
THURSDAY
The industrial production index is expected at 0.5 per cent against 0.4 percent previously. The manufacturing production index is expected at 0.2 per cent, against a previous 0.1 per cent.
The Bank of England makes its interest rate decision today. Market expectations are for the Old Lady to keep the rate unchanged, but any sign of weakness in economic numbers could prompt it to increase the asset purchase programme sooner rather than later.
Earnings: Tanfield, VSA Capital, and Shore Capital.
FRIDAY
It’s Good Friday, so there is no trading in Britain, but non-farm payroll and unemployment numbers from the United States could set the tone for the following week.
Manoj Ladwa, professional trader at ETX Capital, is running an open long/short portfolio using his systematic trading method. To follow Manoj’s trading journey more closely go to: www.etxcapital.co.uk/manoj