Thursday preview: UK elections, Tesla Q2 results in focus

(Sharecast News) - All eyes on Thursday would be on the UK election results with most analysts confident that Labour was set to regain power by a wide margin and after a very long absence.

Echoing other observers, both domestic and overseas, over the last few days, IG chief market analyst Chris Beauchamp judged that most investors were "looking forward" to a "large" Labour majority.

That, he said, would provide stability and remove political risk from the outlook "for the time being."

No major economic releases were scheduled in the UK and US markets would remain closed in observance of the 4 July holidays.

However, investors across the Pond were likely to be closely following Tesla's fourth quarter results which were due out after the close of trading in New York on 3 July.

On Wednesday, analysts at Canaccord Genuity and Wedbush upped their target prices for shares of the EV maker from $254 and $275 to $254 and $300, respectively.

Goldman Sachs on the other hand kept its target at $175 together with its 'neutral' recommendation.

Goldman analyst Seth Goldstein was expecting the manufacturer to report lower second quarter and profits, but that automotive margins would begin to show a stabilisation on a sequential basis, Dow Jones Newswires reported.

A further recovery in the back half of the year was possible, setting the stage for a move back into the black in 2025.

Across the Channel meanwhile, at 0600 BST Germany's ministry of finance would release factory orders data for the month of May.

Thursday 04 July

INTERIM DIVIDEND PAYMENT DATE

Smiths News

INTERIM EX-DIVIDEND DATE

Gulf Keystone Petroleum Ltd Com Shs (DI), Paragon Banking Group, Premier Miton Group, S and U 31.5% Prf. Cum. Prf 12.5P, Safestore Holdings, Treatt, Union Jack Oil, Witan Investment Trust Plc

QUARTERLY PAYMENT DATE

Law Debenture Corp.

QUARTERLY EX-DIVIDEND DATE

Alpha Real Trust Ltd., CT Private Equity Trust, CT UK High Income Trust, CT UK High Income Trust B , Marble Point Loan Financing Limited NPV, Primary Health Properties, Real Estate Credit Investments Ltd

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Factory Orders (GER) (07:00)

FINALS

Trifast, Trifast

SPECIAL EX-DIVIDEND DATE

Manchester & London Investment Trust

AGMS

3i Infrastructure, Assura , Great Portland Estates, JD Sports Fashion, Sainsbury (J), Scottish Mortgage Inv Trust

UK ECONOMIC ANNOUNCEMENTS

PMI Construction (09:30)

FINAL EX-DIVIDEND DATE

Bank of Georgia Group, Big Yellow Group, Bisichi , Facilities by ADF, Fuller Smith & Turner, ICG Enterprise Trust, NewRiver REIT, Next, Next 15 Group, Shires Income, Skillcast Group, Workspace Group, Young & Co's Brewery 'A' Shares, Young & Co's Brewery (Non-Voting)