Thursday preview: US data, Easyjet in focus

19th May 2021 12:38

(Sharecast News) - The spotlight in financial markets will continue to be trained on the US where two closely-followed high-frequency economic indicators are due out.


They are the latest weekly initial jobless claims data (Barclays: 450,000) and the Federal Reserve Bank of Philadelphia's regional manufacturing sector index, both at 1330 BST.

On home shores meanwhile, the Confederation of British Industry will publish the results of its Industrial Trends survey for May.

Across the Channel, investors are likely to be watching for any policy-relevant remarks out of the European Central Bank's chief economist, Philip Lane, and its chief, Christine Lagarde, at 0900 BST and 1300 BST, respectively.

Further afield, rate-setters in the People's Republic of China are due to meet to decide on interest rates.

Over in Japan, the country's Statistics Bureau will release consumer price data, excluding perishables, referencing the month of April.

For Easyjet's first half results, UBS's Jarrod Castle has penciled in sales of €235m, in line with the analyst consensus, and pre-tax income of -€701m, versus company guidance for -€690 to -€730m.

Investors' focus, Castle said, would be on the firm's cash burn, current bookings and management's views on capital expenditures and summer trading.

For his part, CMC Markets UK's Michael Hewson told clients that with governments restrictions only expected to be lifted slowly "any expectations of a quick rebound look increasingly unlikely."

Hewson was more constructive when it came to Easyjet's ability to boost liquidity in order to offset cash burn.

The carrier had already sold and leased-back roughly 43 jets in order to raise cash, but another 141 aircraft remained fully-owned and unencumbered "so it certainly has plenty of room to boost its liquidity."

Thursday 20 May

INTERIMS

easyJet, Euromoney Institutional Investor, Nexus Infrastructure

INTERIM EX-DIVIDEND DATE

Bellway, Brewin Dolphin Holdings, Ecclesiastical Insurance 8.625% Non-Cum Irr Pref Shares, Mobeus Income & Growth Vct, Numis Corporation, Titon Holdings

QUARTERLY PAYMENT DATE

M Winkworth

QUARTERLY EX-DIVIDEND DATE

Blackrock North American Income Trust , Contour Global , GlaxoSmithKline, NextEnergy Solar Fund Limited Red, Octopus Renewables Infrastructure Trust , Pershing Square Holdings Ltd NPV, Pershing Square Holdings Ltd NPV (USD), Raven Property Group Limited Cum Red Pref, TwentyFour Select Monthly Income Fund Limited , Unilever, Wheaton Precious Metals Corp.NPV (CDI)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Continuing Claims (US) (13:30)

Current Account (EU) (09:00)

Initial Jobless Claims (US) (13:30)

Producer Price Index (GER) (07:00)

FINALS

National Grid, QinetiQ Group

SPECIAL DIVIDEND PAYMENT DATE

Invesco Enhanced Income Limited, Sabre Insurance Group

SPECIAL EX-DIVIDEND DATE

Howden Joinery Group, Midwich Group, Pembroke Vct B

AGMS

888 Holdings, Adriatic Metals , Capital & Regional, Computacenter, Essentra, Fevertree Drinks, Fevertree Drinks, Gamma Communications, Genuit Group, H&T Group, Henry Boot, Highcroft Investment, Impax Environmental Markets, Kape Technologies, Legal & General Group, Lloyds Banking Group, Lloyds Banking Group, Marshall Motor Holdings, McColl's Retail Group , Mercantile Investment Trust (The), Network International Holdings, S&U, Secure Income Reit , Seplat Petroleum Development Company (DI), Smart Metering Systems, Team, Telit Communications, Tyman, Venture Life Group

TRADING ANNOUNCEMENTS

Kistos , Watches of Switzerland Group

FINAL DIVIDEND PAYMENT DATE

Aggreko, Direct Line Insurance Group, Gresham Technologies, Moneysupermarket.com Group, Sabre Insurance Group, Standard Chartered

FINAL EX-DIVIDEND DATE

BlackRock Smaller Companies Trust, Bunzl, Centamin (DI), Howden Joinery Group, LMS Capital, Morrison (Wm) Supermarkets, Sampo OYJ, Science Group , Tesco

Q1

Helios Towers