City morning headlines: Early boost for new government as unemployment set to fall
David Cameron may have another reason to celebrate this morning, as employment and wage data is expected to provide an early fillip for his new Conservative government.
The figures out at 09:30am today are forecast to show that the jobless rate sank to 5.5% in the three months to March, with 225,000 jobs added.
Wages are seen up 2.1% year-on-year - the quickest growth rate since 2011.
A rate rise hint?
At 10:30 the Bank of England's closely watched inflation report will be released.
Carney could signal an early rate rise if inflation creeps above its 2% target in its long-term forecasts.
Markets are currently pricing in the first rate hike by May next year.
The central bank may also trim its growth forecasts for this year and next from the high-looking 2.9%.
Companies news highlights:
Bullish builder Barratt Developments will sell more homes than expected this year, with projections to sell more than 16,000.
Fellow builder Galliford is doing well despite labour struggles.
Double-digit growth for Peroni in the UK helps brewer SABMiller but its Polish beer brands struggle and the dollar hits its overall results.
UK holidaymakers flock to Thomson owner TUI - doubtless aided by the cold spring. Sales are up 6% with Jamaica and Mexico among the popular destinations.
Founder of insurer Admiral – the quotable Henry Englehardt – is to step down next year after 25 years. He says: “Don’t bury me yet, guys!”
Catering giant Compass – the caterer to Wimbledon and the ExCel centre – returns to growth in Europe. Group profits are up 4.9%, with a strong dividend payout.
Engineer John Wood is on course to make $30 million in savings this year in “challenging” oil market conditions.
Premier Oil reports a “strong start to the year notwithstanding oil price volatility” and maintains its production guidance.
Dealership Vertu Motors says there was a strong March and April for the car market, with profits up 25%. It will ratchet up dividend payouts.
Severn Trent offloads its water purification arm for £61.9 million.
Private jet firm Air Partner buys aircraft broker Cabot.
