Inflation to tick up; New Budweiser bid due
Mon: Inflation data for September is due this week and is expected to show a rise to 0.1% year-on-year following a drop to 0% in August.
The Bank of England, which is targeting 2% inflation, said at its 8 September policy meeting that the outlook remains weak for CPI and is not likely to reach 1% until next Spring.
Job figures on Wednesday are expected to show the UK unemployment rate fell to 5.4% in the three months to September from 5.5%. Average weekly earnings are forecast to grow 3.1% against 2.9% in the previous quarter when it reached a six-year high.
In corporate news, Budweiser brewer AB InBev is expected to deliver an higher takeover offer for SAB Miller this week.
AB InBev’s current £42.15 per share bid values London-listed SAB at about £65 billion, but analysts expect the predator will come back with an improved offer of £43 to £44 a share before the 5pm deadline on Wednesday.
Bellway will unveil figures giving further pointers to the direction of the housing market.
Banking analysts were keeping watch on speculation that Standard Life chairman Sir Gerry Grimstone will be appointed deputy chairman of Barclays. Sir Gerry, a long-serving chairman of the insurer, recently committed himself to remaining with the Edinburgh company.