Thursday preview: ECB, Ocado in focus

12th Dec 2018 15:24

(Sharecast News) - Barring a surprise in Wednesday evening's no-confidence vote against Prime Minister Theresa May, which she is expected to overcome, the market spotlight is expected to shift towards the other side of the Channel, where rate-setters in Frankfurt are set to meet to decide on monetary policy.At its meeting, the European Central Bank's Governing Council is set to confirm the end of it bond purchase programme at year-end.But investors are keen to see whether ECB chief Mario Draghi sounds a more cautious note than the last time around, especially as the central bank is also set to publish updated economic forecasts.Stateside, readings on weekly initial unemployment claims and import price data for November are both set for release at 1330 GMT.In the UK, the sole economic indicator due to be published is the RICS house price balance.On the corporate side of things, Ocado's trading update is likely to garner a fair bit of attention with Numis's Andrew Wade expecting the online grocer to report 11% growth in retail sales, which would be just a touch less than the 11.5% clip observed over the thid quarter.Indeed, Wade believed Retail growth was being hindered by a lack of capacity.Wade sounded a 'bullish' note on the outlook for the company's shares ahead of the trading update, telling clients: "The shares have fallen back in recent months and we are not convinced that sufficient value is being ascribed to the embedded potential in the deals Ocado has already signed, let alone those still to come. We continue to see a significant long-term growth opportunity, and retain our positive stance." Also due to update its shareholders is TUI AG.According to UBS's Cristian Nedelcu, investors' attention will likely centre on the prospects for its 2019 REVPAR in Spain and the Caribbean within its Hotels division, the outlook for the UK market in its Tour Operator arm given the likelihood of capacity additions at Jet2 as well as easyJet and its contingency plans around Brexit.Consensus is calling for full fiscal year 2018 EBITA after FX of £1,154m.On a divisional basis, Nedelcu said he expected EBIT of €483m from Source markets (Northern region: €279m, Central region: €101m, Western region: €103m), another €398m in Hotels&Resorts, €305m in Cruises, €43m in Destination experiences and a -€85m from Others.Thursday December 13INTERIMSPurplebricks Group, Rhythmone, Sports Direct International, Tungsten CorporationINTERIM EX-DIVIDEND DATE3i Group, Avation, BCA Marketplace, Brown (N.) Group, Charles Stanley Group, Clipper Logistics , Halfords Group, JPMorgan Euro Small Co. Trust, Meikles Ltd., Michelmersh Brick Holdings, MS International, Northgate, Severfield, Sirius Real Estate Ltd., Speedy Hire, ULS Technology , Ventus 2 VCT, Ventus 2 VCT 'C' Shares, Ventus VCT, Ventus VCT 'C' Shares, Vianet GroupQUARTERLY EX-DIVIDEND DATEAssura , F&C Commercial Property Trust Ltd., Real Estate Credit Investments Ltd, XP Power Ltd. (DI)INTERNATIONAL ECONOMIC ANNOUNCEMENTSConsumer Price Index (GER) (07:00)Continuing Claims (US) (13:30)ECB Interest Rate (EU) (12:45)Import and Export Price Indices (US) (13:30)Initial Jobless Claims (US) (13:30)FINALSIntegraFin Holding, TUI AG Reg Shs (DI)ANNUAL REPORTTUI AG Reg Shs (DI)SPECIAL DIVIDEND PAYMENT DATEAlternative Liquidity Fund LimitedSPECIAL EX-DIVIDEND DATEFerrexpo, Oxford MetricsAGMSAberdeen Latin American Income Fund Ltd , Amur Minerals Corporation NPV, Bacanora Lithium, Chelverton Growth Trust, Fidelity Asian Values, Henderson Far East Income Ltd., JPMorgan Japanese Inv Trust, Maestrano Group, Nanoco GroupTRADING ANNOUNCEMENTSAssociated British Foods, Bunzl, Ocado Group, PZ Cussons, Serco GroupFINAL EX-DIVIDEND DATEAeorema Communications, Associated British Foods, Grainger, Henderson Alternative Strategies Trust , JPMorgan Chinese Inv Trust, Marston's, Numis Corporation, Orchard Funding Group , Oxford Metrics