Thursday preview: US Q1 GDP, Barclays in the spotlight
27th Apr 2022 17:13
(Sharecast News) - The market spotlight on Thursday will be on a preliminary reading for first quarter US gross domestic product.
Consensus is for the pace of economic expansion to have slowed sharply, from an annualised pace of 6.9% over the last three months of 2021 to 1.0%, although Barclays Research anticipates a modestly stronger reading of 1.7%.
Across the Channel meanwhile, investors will be watching to see if preliminary readings for consumer prices in Germany and Spain confirm the expected easing in price pressures in April.
Against that backdrop, at 0900 GMT the European Central Bank is due to publish monthly economic bulletin.
For his part, at 0800 GMT, ECB vice-president, Luis de Guindos, is due to deliver a speech in Brussels.
On the corporate side of things meanwhile, Barclays's first quarter results are expected to lay bare the hit from having to repurchase the excess of exchange traded funds not properly registered in the US, to the tune of £450m.
Nonetheless, perhaps the most consequential hit would be to the lender's credibility and that of its new chief executive officer, City-based analysts said.
Investors will therefore be looking for assurances that a repeat will not occur, even as they worry that a planned $1bn share buyback might be delayed, said Michael Hewson, chief market analyst at CMC Markets UK.
"In the wider scheme of things investors will also be looking to see whether Barclays goes down the route of JPMorgan and Goldman Sachs in setting aside higher credit loss provisions as a result of higher interest rate risk."
Thursday 28 April
INTERIMS
C4X Discovery Holdings
INTERIM DIVIDEND PAYMENT DATE
Northamber
INTERIM EX-DIVIDEND DATE
Atrato Onsite Energy
QUARTERLY EX-DIVIDEND DATE
City of London Inv Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Business Climate Indicator (EU) (10:00)
Consumer Confidence (EU) (10:00)
Continuing Claims (US) (13:30)
Economic Sentiment Indicator (EU) (10:00)
GDP (Preliminary) (US) (13:30)
Industrial Confidence (EU) (10:00)
Initial Jobless Claims (US) (13:30)
Services Sentiment (EU) (10:00)
FINALS
Angle, Brave Bison Group, Checkit, Heiq, Keystone Law Group , Novacyt S.A. (CDI), Sainsbury (J), Sanderson Design Group, Sanderson Design Group
SPECIAL EX-DIVIDEND DATE
Sabre Insurance Group, Tate & Lyle
EGMS
HICL Infrastructure , Societatea Nationala De Gaze Naturale Romgaz S.A. GDR (Reg S)
AGMS
Arden Partners, Arden Partners, Breedon Group , British American Tobacco, Capital Limited (DI), CLS Holdings, CRH (CDI), Dalata Hotel Group (CDI), Devro, Flutter Entertainment (CDI), Glencore , Glenveagh Properties (CDI), Grafton Group Ut (CDI), Greencoat UK Wind, Hammerson, Helios Towers , Honye Financial Services Limited (DI), International Personal Finance, ITV, Kerry Group 'A' Shares (CDI), NATWEST GROUP PLC ORD 100P, Octopus AIM VCT 2, Premier Miton Global Renewables Trust, Robert Walters, Schroders, Serco Group, Synthomer, TOC Property Backed Lending Trust, Weir Group
TRADING ANNOUNCEMENTS
Convatec Group , Glencore , Howden Joinery Group, Inchcape, Lancashire Holdings Limited, PPHE Hotel Group Ltd, Smith & Nephew, Unilever
FINAL DIVIDEND PAYMENT DATE
Bellevue Healthcare Trust (Red), Hikma Pharmaceuticals, XP Power Ltd. (DI)
FINAL EX-DIVIDEND DATE
4Imprint Group, AVI Japan Opportunity Trust , Bakkavor Group , Banco Santander S.A., Coats Group, Derwent London, Drax Group, Fintel, Fresnillo, Hercules Site Services , Kenmare Resources (CDI), London Stock Exchange Group, LSL Property Services, M. P. Evans Group, Mobius Investment Trust , Morgan Advanced Materials , Morgan Sindall Group, Mortgage Advice Bureau (Holdings) , Porvair, Property Franchise Group, Reckitt Benckiser Group, Relx plc, Rightmove, Sabre Insurance Group, Schroder Asian Total Return Investment Company , St James's Place, Stelrad Group , Transgloble Energy Corporation NPV (DI), TT Electronics, Tyman
Q1
Bank Pekao SA GDS (Reg S), Barclays, Indivior, Lancashire Holdings Limited, Nokia OYJ, Schroders, Standard Charteredg