With the calendar looking a little light in terms of corporate announcements on Friday, traders in London will likely be watching closely for the final revision of UK economic growth in the first quarter.
The gross domestic product (GDP) estimate, due to be released at 09:30, is widely expected to confirm the initial figure which showed that the UK economy expanded by 0.8% in the first three months of the year.
Compared with last year, first-quarter GDP is expected to have expanded 3.1%, in line with the first estimate.
However, Chief UK & European Economist Howard Archer from IHG Global Insight said that it is possible that both quarterly and yearly growth figures could actually be revised 10 basis points higher, mainly due to higher-than-previously-estimated construction output.
He said that quarterly growth of 0.9%, if confirmed, would be the strongest since the second quarter of 2010, while yearly growth of 3.2% would be the best since the fourth quarter of 2007.
"We currently forecast GDP growth at 3.1% in 2014, but we are likely to lift this to 3.2% or, very possibly, 3.3% if first-quarter expansion is revised up. Largely ongoing robust news on the economy also favours a further upgrading of the growth forecast for 2014," he said.
There will also be other UK economic data on tap on Friday, including the Lloyds Business Barometer and the GfK Consumer Confidence Survey.
Friday June 27
INTERIM DIVIDEND PAYMENT DATE
Artemis VCT, British Empire Securities & General Trust, Keystone Inv Trust, Majedie Investments, Numis Corporation, Town Centre Securities
QUARTERLY PAYMENT DATE
Brunner Inv Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Business Climate Indicator (EU) (10:00)
Economic Sentiment Indicator (EU) (10:00)
U. of Michigan Confidence (Final) (US) (14:55)
Lebanese Co for the Development & Reconstruction of Beirut Central District SAL GDS (Reg S)
Hornby, Urals Energy Public Co Ltd. (DI)
Alpha Real Trust Ltd., Grafenia , Hyder Consulting
SPECIAL DIVIDEND PAYMENT DATE
Artemis VCT, Perpetual Income & Growth Inv Trust
Asia Resource Minerals, Bluecrest Bluetrend Ltd Red USD, Camper & Nicholsons Marina Investments Ltd.
Alpha Bank GDR (Reg S) EUR, Alpha Bank GDR (Reg S) USD, Asia Resource Minerals, Axis Bank Ltd GDR (Reg S), China New Energy Limited, Edenville Energy , Herencia Resources, Immupharma, Investors Capital Trust 'A' Shares, Johnston Press, JSC Federal Grid Company of Unified Energy System GDR (REG S), MCB Finance Group, Nationwide Accident Repair Services, New Trend Lifestyle Group, OAO Gazprom Level 1 ADS, OAO Tatneft GDR (Reg S), OJSC Pharmstandard GDR (Reg S), RapidCloud International , RCG Holdings Ltd, Rose Petroleum, Silence Therapeutics, Strategic Minerals, Tesco, Tissue Regenix Group, Wisdom Marine Lines Co., Limited GDS (Repr 5 Cmn) (Reg S)
UK ECONOMIC ANNOUNCEMENTS
Balance of Payments (09:30)
Current Account (09:30)
GDP (quarterly national accounts) (09:30)
GFK Consumer Confidence (00:05)
Index of Services (09:30)
FINAL DIVIDEND PAYMENT DATE
BBGI SICAV S.A. (DI), Dignity, Downing Three VCT C Shares, Downing Three VCT D Share , Downing Three VCT F Shs, Downing Two VCT 'C' Shs, Downing Two VCT D Share , Downing Two VCT F Shs , Downing Two VCT G Shs, Hilton Food Group, Journey Group, Pacific Assets Trust, Prime People, Rotala, Weiss Korea Opportunity Fund Ltd