Wednesday preview: PageGroup update, more US bank earnings due

Investors will turn their attention to more US bank earnings on Wednesday, as well as the latest update from London-listed recruiter PageGroup, and Chinese inflation prints.

Source: Sharecast

PageGroup is due to release a third-quarter trading update a day after fellow recruiter Robert Walters rallied as it posted a drop in third-quarter net fee income but with the rate of decline slowing marginally from the second quarter.

Panmure Liberum said the net fee income performance at Robert Walters was in line overall, but with some encouraging signs of improvement in APAC and the UK being offset by continued weakness in Europe.

"While it is still very early days, we expect the shares to respond positively, given the encouraging signs and that they are currently at the lowest level in more than ten years. Given the perm focus, the business remains highly geared into a market recovery," it said in a note.

Across the Pond, Bank of America and Morgan Stanley are slated to report quarterly numbers, following results from peers JPMorgan, Citi, Goldman Sachs and Wells Fargo on Tuesday.

Kathleen Brooks, research director at XTB, said that "in the absence of economic data from the US, this will be a good read on the health of the US economy".

On the macro front, investors will be mulling the latest inflation data out of China, which is due to release CPI and PPI readings for September overnight.

Danske Bank noted that CPI moved into negative territory in August at -0.4% headline inflation.

"It was driven by lower food prices, though, and core inflation stood at 0.9%," it said. "In September we look for a small increase in headline CPI to -0.2% y/y while core inflation is expected to be flat. PPI will likely stay negative but move up from -2.9% y/y to around -2.5% y/y."

Wednesday 15 October

INTERIMS

Acg Metals Limited Cls A Npv (DI), Sanderson Design Group

INTERIM DIVIDEND PAYMENT DATE

Cairn Homes (CDI), DFI Retail Group Holdings Limited (Bermuda Regd), DFI Retail Group Holdings Limited (Jersey Reg), DFI Retail Group Holdings Limited (Sing.Reg), Hongkong Land Holding Ltd. (Bermuda), Hongkong Land Holding Ltd. (Jersey), Hongkong Land Holding Ltd. (Sing.Reg), Jardine Matheson Holdings Ltd (Singapore Reg), Jardine Matheson Holdings Ltd. (Bermuda), Jardine Matheson Holdings Ltd. (Jersey), Mandarin Oriental International (Bermuda), Mandarin Oriental International (Jersey), Mandarin Oriental International (Singapore)

QUARTERLY PAYMENT DATE

Middlefield Canadian Income PCC

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Consumer Price Index (US) (13:30)

Crude Oil Inventories (US) (15:30)

Industrial Production (EU) (10:00)

MBA Mortgage Applications (US) (12:00)

Wholesale Price Index (GER) (07:00)

GMS

Empresaria Group, Genedrive

IMSS

Rathbones Group

SPECIAL DIVIDEND PAYMENT DATE

DFI Retail Group Holdings Limited (Bermuda Regd), DFI Retail Group Holdings Limited (Jersey Reg), DFI Retail Group Holdings Limited (Sing.Reg)

AGMS

Rank Group

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