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Tuesday preview: Global PMIs, Jupiter Fund Management in focus

Mon, 22nd Apr 2024 10:40

(Sharecast News) - Financial markets' attention on Tuesday will be trained on a raft of purchasing managers surveys due out covering manufacturing and services sector activity in the euro area, UK and U.S..

Activity levels are expected to have improved both in the euro and U.S., more so in the latter, while the pace of expansion in the UK was thought to have remained steady.

Also due out on home shores were figures for the public sector's net borrowing requirement in March.

On the corporate side of things, Jupiter Fund Management was among the names that were due to update investors.

Michael Werner at UBS was anticipating that the fund manager would report £52.2bn of assets under management.

Net flows meanwhile were put at -£0.4bn with market performance, including foreign exchange movements, expected to have contributed £1.2bn.

Werner pointed out how the fund manager's shares were changing hands on a 9.4 forward price-to-earnings multiple or about one standard deviation beneath its historical average of 11.6.

That, he believed, implied that the market was discounting a return to "moderate" retail inflows in 2025.

The Swiss broker however was not anticipating that to occur until the front half of 2028.

Tuesday 23 April

INTERIMS

Associated British Foods

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

New Homes Sales (US) (15:00)

FINALS

Alliance Pharma, Alphawave IP Group , ASA International Group , Elecosoft Public Limited Company, Property Franchise Group, Tinybuild Inc. (DI), Trellus Health

SPECIAL EX-DIVIDEND DATE

Pinewood Technologies Group

AGMS

AIQ Limited (DI), Mobius Investment Trust , NATWEST GROUP, Taylor Wimpey

TRADING ANNOUNCEMENTS

Jupiter Fund Management , Taylor Wimpey

UK ECONOMIC ANNOUNCEMENTS

Public Sector Net Borrowing (07:00)

FINAL DIVIDEND PAYMENT DATE

Crest Nicholson Holdings

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