Tuesday preview: UK and US inflation data, BHP Billiton finals

15th Aug 2016 12:25

(ShareCast News) - The pace is set to pick up on Tuesday following a quiet start to the week, with the release of UK and US inflation data and BHP Billiton's full year results.The first reading on UK inflation since Britain voted to leave the European Union will be released by the Office for National Statistics. Analysts have predicted consumer prices remained stable at 0.5% year-on-year growth in July. The consumer price index is estimated to fall 0.1% on the month in July, compared to a 0.2% increase in June.The Bank of England expects inflation will rise over coming months as a weaker pound post Brexit lifts the prices of imports, which will be passed onto the consumer. The Bank is targeting 2% inflation.US inflation data is also due. Economists have pencilled in an annualised 0.9% increase in July, down from 1.0% in June. On the month, consumer prices are expected to slow to 0.1% growth from 0.2% the previous month.Core inflation, which strips out energy and food prices, is expected to remain at 2.3% year-on-year and 0.2% month-on-month in July.The Federal Reserve's inflation target is 2%.On the company front, BHP Billiton is expected to report a record loss in its full year results following the collapse of commodity prices.BHP has been hurt by a slowdown in demand from China, which has left a supply glut in cooper, oil and coal. The miner has also set aside £1bn for a disaster at a dam in Brazil, which killed 19 and left 700 homeless in November last year.At the time of its half year results in February, BHP said it had made a loss of around £4bn in the six months to December 31, despite cutting costs.UBS said it expects a full year reported loss of $6.8bn due to additional costs associated with redundancies and closures across all businesses, along with reversal of inventory write-downs in mineral businesses and impairments, predominantly in the coal business.The bank also predicts underlying earnings before interest, tax, depreciation and amortisation (EBITDA) of $11.86bn, down 46% year-on-year, compared to the consensus estimate of $11.90bn.The bank forecasts a final dividend of 16 cents per share, flat on the interim dividend. Tuesday 16 AugustINTERIMSBGEO Group, Cairn Energy, H&T Group, Marshall Motor Holdings, Societatea Energetica Electrica SA GDR (Reg S)INTERNATIONAL ECONOMIC ANNOUNCEMENTSBalance of Trade (EU) (10:00)Building Permits (US) (13:30)Capacity Utilisation (US) (14:15)Consumer Price Index (US) (13:30)Housing Starts (US) (13:30)Industrial Production (US) (14:15)ZEW Survey (EU) (10:00)ZEW Survey (GER) (10:00)Q2Afarak Group (DI), BGEO Group, Societatea Energetica Electrica SA GDR (Reg S)FINALSBHP Billiton, Orosur Mining IncANNUAL REPORTAbbeyEGMSOvoca GoldAGMSCastings, Lazard World Trust Fund, Ovoca GoldUK ECONOMIC ANNOUNCEMENTSConsumer Price Index (09:30)Producer Price Index (09:30)Retail Price Index (09:30)