LONDON (ShareCast) - (Sharecast News) - The market spotlight on Tuesday will fall on the UK employment report for May.




Barclays Research expects the unemployment rate to hold at 3.8%, the same level as during the previous month, but said an "upside surprise is very plausible".

However, the three-month year-on-year rate of change in average weekly earnings is seen dipping by one tenth of a percentage point to 3.7%.

Across the Channel meanwhile, at 1000 BST, Eurostat will publish a final reading for euro area consumer price inflation in June (consensus: 8.6% year-on-year).

US housing starts and building permits figures for June are due out at 1330 BST with the consensus for the latter standing at 1.59m.

On the corporate side of things meanwhile, Netflix is due release its results for the second quarter of the year.

According to Michael Hewson, chief market analyst at CMC Markets UK, the focus will be on the streaming video giant's subscriber numbers given the ongoing cost-of-living crisis and recent product launches of its peers, including Disney+, Amazon and Paramount+.

Netflix has previously guided towards the loss of 2.0m subscribers during the quarter.

Hewson also said that the company's guidance for sales growth of approximately 10% looked "optimistic" with US dollar strength doing little to help its case, not least due to the lack of FX hedging.

"This is madness on a grand scale and while it has teamed up with Microsoft on a lower cost advertising model, this has the risk of cannibalising its higher value subscription model," he said.

"There are also signs that Netflix might also look at moving into sports, however that has the downside of being hugely expensive, and as other providers have found, not particularly profitable."

Consensus was for quarterly earnings per share of $2.94.

Tuesday 19 July

INTERIMS

Photo-Me International, PJSC Magnitogorsk Iron & Steel Works GDR (Reg S), PJSC Magnitogorsk Iron & Steel Works GDR (Reg S)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Building Permits (US) (13:30)

Housing Starts (US) (13:30)

Q2

PJSC Magnitogorsk Iron & Steel Works GDR (Reg S)

AGMS

Arrow Exploration Corp. (Cdi), Begbies Traynor Group, Clean Power Hydrogen, e-Therapeutics, Norcros, TPXimpact Holdings, Wynnstay Properties

TRADING ANNOUNCEMENTS

BHP Group Limited NPV (DI), City of London Investment Group, IntegraFin Holding, Luceco , Wise Class A

UK ECONOMIC ANNOUNCEMENTS

Claimant Count Rate (07:00)

Unemployment Rate (07:00)

FINAL DIVIDEND PAYMENT DATE

Dr. Martens

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE