Tuesday preview: UK public sector borrowing, Kingfisher in focus

21st Mar 2022 12:51

(Sharecast News) - Investors' focus on Tuesday will be public sector net borrowing data in the UK which are due out at 0700 GMT.

They will be followed at 1100 GMT by the Confederation of British Industry's Industrial Trends Index at 1100 GMT.

Stateside, attention will be on potentially market-moving remarks out of a trio of Fed officials who are due to take to the podium.

The first one of those will be the Federal Reserve Bank of San Francisco's president, John Williams, at 1435 GMT.

Also scheduled is a full slate of speakers from the European Central Bank with its vice-president, Luis de Guindos, set to speak at a panel before the market open.

He will be followed by ECB boss Christine Lagarde at 1215 GMT while the bank's chief economist, Philip Lane, will participate in a panel discussion starting from 1600 GMT.

For Kingfisher's full-year results, UBS analyst Saranja Sivachelvan says the B&Q owner's outlook will be key.

She believed that the market was pricing in a weak outlook, not least due to the developing situation around higher prices and the conflict between Russia and Ukraine.

Kingfisher had 13% exposure to Poland at the group level, she noted.

Consensus for the year ahead was for profits before tax of £772m.

For 2021, she had penciled-in profits of £937m with the consensus on £959m.

Tuesday 22 March

INTERIMS

Diurnal Group, SCS Group , Softcat, YouGov

QUARTERLY PAYMENT DATE

Unilever

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Current Account (EU) (09:00)

FINALS

Alliance Pharma, Diaceutics , Fintel, Kape Technologies, LongBoat Energy , Luceco , Oxford Nanopore Technologies , Sabre Insurance Group, Staffline Group, The Pebble Group, Yu Group , Zotefoams

ANNUAL REPORT

Elementis, M&G

SPECIAL DIVIDEND PAYMENT DATE

Origo Partners , Origo Partners Conv Pref

EGMS

Bankmuscat (S.A.O.G) GDR (Reg S), Hochschild Mining

AGMS

Bankmuscat (S.A.O.G) GDR (Reg S), CC Japan Income & Growth Trust, Crest Nicholson Holdings, Standard Life Private Equity Trust, Starvest, Wynnstay Group

UK ECONOMIC ANNOUNCEMENTS

Public Sector Net Borrowing (07:00)