Early indication of world’s financial health tees off Ryder Cup week

Business leaders turning attention to Gleneagles. Picture: AP

Business leaders turning attention to Gleneagles. Picture: AP

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ECONOMISTS will get a pointer on the health of the world economy when Markit publishes a series of “flash PMIs” this week.

Purchasing managers’ indices for China and the US are expected to show the recovery continues to make progress. The exception is likely to be the eurozone, where surveys in ­August signalled a slowing recovery as output in France and Italy fell.

In the UK, public finances will be the key release as borrowing has so far proved to be stubbornly high despite better-than-expected economic growth.

The corporate calendar is not looking busy and no doubt many executives will be taking a long weekend and heading to Scotland as the Ryder Cup tees off on Friday at Gleneagles.

WEEK AHEAD

Today

• Moss Bros – The menswear specialist is thought to have been hit by a slowdown in summer weddings due to the World Cup, but is still expected to show an ongoing recovery when it posts its half–year figures.

• Eurozone – The European Commission publishes consumer confidence data for the currency union, which will be scrutinised for evidence that further monetary stimulus is - or isn’t - needed.

Tomorrow

• Flash PMIs – Research firm Markit will publish surveys on China, the eurozone and the US that will give an early indication of growth levels in the third quarter.

• AG Barr – The Cumbernauld–based firm said in July it expects its sales will have risen 5.6 per cent to £135 million, and analysts at Oriel forecast its profits will come in at £18.2m for the first half.

• The AA – A solid set of half–year results are expected in the group’s first numbers since its June flotation valued the business at £1.4 billion.

• Public finances – UK borrowing figures are expected to show some improvement over the same month last year, although a change in methodology will make them especially hard to interpret.

• Cupid – Interim results will allow investors to rate the attractiveness of the slimmed–down dating website firm, which last year sold its “casual” matchmaking brands and brought in new leadership.

Wednesday

• Greater MSP – Michael Langley, head of business development organisation Greater MSP, is hosting a reception in Edinburgh for those interested in trading with the Minneapolis Saint Paul region.

Thursday

• Distributive trades – The CBI’s monthly survey should show retailers continuing to enjoy an improving environment, although economists believe a slight slowdown is likely.

• Havelock Europa – Interim numbers will give an indication of how the Fife–based shop–fitter is likely to follow up last year’s return to profit.

• Ryanair – Shareholders’ group Pirc has urged members to challenge the re–election of some non–executive directors at the budget airline’s annual meeting.

Friday

• Ryder Cup – Scottish tourism is expected to get a big boost when the hugely popular intercontinental golf tournament comes to Gleneagles.

• US GDP – The final update on second–quarter output will be followed by the Reuters/Michigan consumer sentiment index.

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