Tuesday preview: UK labour market data, Vodafone results

(Sharecast News) - The main focus on Tuesday will be the latest UK jobs data for October and half-year results from Vodafone. Kathleen Brooks, research director at XTB, said the labour market figures could make it easier to justify a Bank of England rate cut next month, as the unemployment rate is expected to creep higher to 4.9%, which would be the highest level since 2021.

"If analysts are correct to assume that the unemployment rate did rise in the three months to September, then it would mean that the unemployment rate has risen by 0.7% since Labour took office, which could heap more pressure on the Chancellor ahead of the Budget," she said.

Brooks said the labour report is also expected to show that private sector wage growth is slowing sharply. The annual rate of growth is expected to be at 4.2% from 4.4%, the lowest level since late 2021.

"Overall, this jobs data has the potential to push up expectations of a December rate cut, which currently stands at 71%," she said.

"A weak labour market report on Tuesday could see this rise, and it could weigh on sterling, which staged a recovery versus the USD last week although GBP/USD still remains below the 200-day simple moving average."

On the corporate front, half-year results are due from Vodafone, with investors looking for any updates on progress with turnaround plans for the German business.

A trading update from 4imprint is also due, along with interim results from DCC and a 10-month trading update from Informa.

As far as DCC is concerned, UBS said that as the company is becoming a pure-play Energy, investor focus will be on the energy division's performance, any update/terms on the planned £600m tender offer, and any update on the restructuring/disposal plans for the remaining technology unit.

UBS expects Informa to deliver organic growth of 5.3% for the 10-month period.

"We think B2B Events will sustain the 8.5% growth we saw in H1, with the September launch of Money 20/20 in Saudi Arabia offsetting softness in China revenues," it said.

In Europe, quarterly results are due from MunichRe and United Internet.

Tuesday November 11

INTERIMS

Oxford Instruments

INTERIM DIVIDEND PAYMENT DATE

AIB Group (CDI), Plus500 Ltd (DI)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Budget Statement (US) (19:00)

ZEW Survey (EU) - Economic Sentiment (10:00)

ZEW Survey (GER) - Current Situation (10:00)

ZEW Survey (GER) - Economic Sentiment (10:00)

Q3

Air Astana Joint Stock Company Gdr (Each Repr 4 Com Shs) (Reg S)

GMS

Finsbury Growth & Income Trust

FINALS

AB Dynamics, Abingdon Health , Shearwater Group

SPECIAL DIVIDEND PAYMENT DATE

Plus500 Ltd (DI)

AGMS

GSTechnologies NPV (DI), Made Tech Group , Rainbow Rare Earths Limited NPV, Thor Energy

UK ECONOMIC ANNOUNCEMENTS

Claimant Count Rate (07:00)

Retail Sales (00:01)

Unemployment Rate (07:00)