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Tuesday preview: Euro area inflation readings, BP in the spotlight

(Sharecast News) - Investors' focus on Tuesday would be on a raft of euro area economic data due out covering both activity and inflation during the month of July and the second quarter in the case of the latter.

Perhaps of greatest importance would be preliminary readings for German and Spanish consumer prices.

Any significant decline could make it easier for the European Central Bank to pursue additional rate cuts.

So too first readings on German and euro area gross domestic product in the second quarter.

Those would be published at 1000 BST and 1100 BST, respectively.

For its part, the European Commission was to release its euro area economic sentiment index for July.

It would be coming close on the heels of other survey findings which appeared to indicate renewed weakness in growth.

In the US, attention would be on house price surveys covering the month of May and the closely followed JOLTS labour market survey for June.

BP will be in the spotlight on the company side of things.

UBS analyst Joshua Stone had pencilled in second quarter replacement cost operating profits of approximately $6.4bn, which he said put him 10% ahead of the consensus.

Stone also anticipated that the dividend would be raised by 10% to $8.0 per share, against market expectations for a smaller increase, and that the share buybacks would slow to a $3bn clip over the back half of 2024.

Tuesday 30 July

INTERIMS

BP, Convatec Group , Essentra, Fresnillo, Inchcape, Pod Point Group Holdings, Sabre Insurance Group, Seplat Energy (DI), Spectris, St James's Place, Staffline Group, Standard Chartered

INTERIM DIVIDEND PAYMENT DATE

Virgin Money UK

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Business Climate Indicator (EU) (10:00)

Consumer Confidence (EU) (10:00)

Consumer Confidence (US) (15:00)

Economic Sentiment Indicator (EU) (10:00)

GDP (Preliminary) (EU) (10:00)

GDP (Preliminary) (GER) (09:00)

House Price Index (US) (14:00)

Industrial Confidence (EU) (10:00)

Services Sentiment (EU) (10:00)

Q2

BP, Smurfit Westrock (DI)

GMS

Proton Motor Power Systems

FINALS

Altitude Group

AGMS

Albion Technology & General VCT, Armadale Capital, Aseana Properties Ltd., Cake Box Holdings, Challenger Energy Group, Picton Property Income Ltd, Record, Severfield, Tatton Asset Management , Telecom Plus, Vodafone Group

TRADING ANNOUNCEMENTS

Barr (A.G.), Sage Group

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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