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Tuesday preview: UK employment, Vodafone in the spotlight

Mon 17 May 2021 12:44 | A A A

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(Sharecast News) - The focus on Tuesday will be on the latest UK employment report to see how the jobs is starting to benefit from the easing of lockdowns.

Although it is the March report, data for the claimant count, PAYE payrolls and vacancies will all be referencing the month of April.

Unemployment meanwhile is expected to have held steady over the three months to the end of March at 4.5%, while headline average weekly earnings are forecast to have grown at a clip of 4.5%, the same as for the three months ending in February.

Stateside, the spotlight will be on existing home sales data for April.

Across the Channel meanwhile, European Central Bank chief, Christine Lagarde, is due to speak at an awards ceremony in Germany at 1500 BST.

Also due out are euro area foreign trade figures for March and a second reading on the bloc's GDP growth in the first quarter, both at 1000 BST.

For Vodafone's full-year numbers, CMC Markets UK's Michael Hewson says investors focus over the past 12 months has been on the company's ability to address its cash-flow and debt issues, even as it invests in 5G.

At the half-year stage, management bumped-up its full-year guidance for earning to €14.0-14.6bn.

To take note of, in March it floated its Vantage Towers business, raising €2.3bn which Vodafone said it would use to lower its gearing.

The shares are trading near 11-month highs going into the results, but remain below their pre-pandemic highs.

Tuesday 18 May


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Housing Starts (US) (13:30)


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Unemployment Rate (07:00)


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