Week ahead: Investors eye BoE rate announcement

(Sharecast News) - With the corporate calendar slowing down next week in the run-up to the Christmas break, all eyes will be firmly on the latest policy announcement from the Bank of England. Economists were widely expecting a 25 basis point rate cut next Thursday, a view that was cemented by the UK GDP figures released on Friday.

Data from the Office for National Statistics showed the economy unexpectedly contracted in October amid uncertainty ahead of the Budget.

The economy shrank 0.1% following a 0.1% decline in September and no growth in August. Economists had been expecting growth of 0.1%.

Services saw a 0.3% decline, while construction fell by 0.6%, but production grew by 1.1% in October.

Danske Bank said: "We expect the Bank of England (BoE) to cut the Bank Rate to 3.75% on Thursday 18 December, which is also largely priced in by investors.

"At the November meeting, the MPC decided to keep rates unchanged by a narrow 5-4 vote. Governor Bailey casted the deciding vote for hold with the view: 'Rather than cutting Bank Rate now, I would prefer to wait and see if the durability in disinflation is confirmed in upcoming economic developments this year'. We believe it has been confirmed."

Danske noted that consumer price inflation fell to 3.6% in October, in line with BoE projections with service inflation slightly lower than consensus.

"This was not in itself a low print, but it confirmed that the soft September print was not just a blip," it said.

"On the labour market, job losses have accelerated in the fall with most recent data, showing a 32K decline in September and October. The unemployment rate increased to 5% and wage growth has been edging lower in September. GDP data for October also disappointed with another 0.1% mom contraction driven by a weak service sector. The economy has not grown since June."

On the corporate front, full-year results from Hollywood Bowl and a full-year trading update from recruiter SThree are due on Tuesday.

Wednesday sees the release of a pre-closing trading statement from Bunzl and full-year results from Transact owner IntegraFin, while on Thursday, electricals retailer Currys will report interim numbers.

WH Smith had been due to release its full-year results on Tuesday. However, the retailer said on Friday that it was delaying the publication to 19 December to give auditors more time to finish their work.

This comes in the wake of an accounting error that wiped almost £600m from the company's stock market value and led to the departure of chief executive Carl Cowling.

The company cut forecasts in August and launched an independent review led by Deloitte after it discovered that an accounting blunder at its North American arm overstated profits by as much as £50m.

Monday December 15



INTERIMS

Gore Street Energy Storage Fund



INTERIM DIVIDEND PAYMENT DATE

Wynnstay Properties



INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Industrial Production (EU) (10:00)

Wholesale Price Index (GER) (07:00)



GMS

Mercantile Ports & Logistics Limited, Nova Ljubljanska Banka D.D., Ljubljana GDR (Reg S)



SPECIAL DIVIDEND PAYMENT DATE

Canadian General Investments Ltd.



EGMS

Starwood European Real Estate Finance Limited



AGMS

Helium One Group Ltd (DI)



FINAL DIVIDEND PAYMENT DATE

Aeci 5 1/2% Prf, Baillie Gifford Japan Trust



Tuesday December 16



INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Building Permits (US) (13:30)

Business Inventories (US) (15:00)

Capacity Utilisation (US) (14:15)

Housing Starts (US) (13:30)

Industrial Production (US) (14:15)

Non-Farm Payrolls (US) (13:30)

Retail Sales (US) (13:30)

Unemployment Rate (US) (13:30)

ZEW Survey (EU) - Economic Sentiment (10:00)

ZEW Survey (GER) - Current Situation (10:00)

ZEW Survey (GER) - Economic Sentiment (10:00)



FINALS

Hollywood Bowl Group, WH Smith



SPECIAL DIVIDEND PAYMENT DATE

Softcat



EGMS

Air China Ltd.



AGMS

Shearwater Group



TRADING ANNOUNCEMENTS

SThree, Time Finance



UK ECONOMIC ANNOUNCEMENTS

Claimant Count Rate (07:00)

Unemployment Rate (07:00)



FINAL DIVIDEND PAYMENT DATE

International Paper Company (DI), Softcat, Volution Group



Wednesday December 17



INTERIMS

Victoria



QUARTERLY PAYMENT DATE

CRH (CDI)



INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Crude Oil Inventories (US) (15:30)

Harmonised Index of Consumer Prices (EU) (10:00)

IFO Business Climate (GER) (09:00)

IFO Current Assessment (GER) (09:00)

IFO Expectations (GER) (09:00)

Import and Export Price Indices (US) (13:30)

MBA Mortgage Applications (US) (12:00)

Retail Sales (US) (13:30)



FINALS

IntegraFin Holding



EGMS

BSF Enterprise



AGMS

Beeks Financial Cloud Group, Conroy Gold & Natural Resources (CDI), First Development Resources, First Development Resources, GCM Resources, Guardian Metal Resources, Karelian Diamond Resources (CDI), Netcall, Schroder BSC Social Impact Trust



UK ECONOMIC ANNOUNCEMENTS

Consumer Price Index (07:00)

Producer Price Index (07:00)

Retail Sales (07:00)



FINAL DIVIDEND PAYMENT DATE

Croma Security Solutions Group



Thursday December 18



INTERIMS

Currys , FRP Advisory Group



INTERIM EX-DIVIDEND DATE

JPMorgan European Discovery Trust, Northern 2 VCT, Northern 3 VCT, Northern Venture Trust, Pharos Energy , Templeton Emerging Markets Inv Trust, United Utilities Group



QUARTERLY EX-DIVIDEND DATE

Law Debenture Corp., Mercantile Investment Trust (The), Real Estate Investors



INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Consumer Price Index (US) (13:30)

Continuing Claims (US) (13:30)

Initial Jobless Claims (US) (13:30)



FINALS

Chesterfield Special Cylinders Holdings



SPECIAL EX-DIVIDEND DATE

Pembroke Vct B, Zegona Communications



EGMS

Weiss Korea Opportunity Fund Ltd Npv



AGMS

Jarvis Securities, Macau Property Opportunities Fund Ltd., Pipehawk, URU Metals Ltd. (DI)



UK ECONOMIC ANNOUNCEMENTS

BoE Interest Rate Minutes (12:00)



FINAL DIVIDEND PAYMENT DATE

Craneware, Tristel



FINAL EX-DIVIDEND DATE

Barings Emerging Emea Opportunities , Smart (J) & Co., Topps Tiles, Town Centre Securities



Friday December 19



INTERIMS

ProService Building Services Marketplace



INTERIM DIVIDEND PAYMENT DATE

Cake Box Holdings, Calnex Solutions , Goldplat, Ninety One , Record, Sainsbury (J), Schroder BSC Social Impact Trust, Tatton Asset Management , Telecom Plus, Yu Group



QUARTERLY PAYMENT DATE

BlackRock World Mining Trust, BP, GCP Asset Backed Income Fund Limited, Pershing Square Holdings Ltd NPV, Pershing Square Holdings Ltd NPV (USD)



INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Current Account (EU) (09:00)

Existing Home Sales (US) (15:00)

GFK Consumer Confidence (GER) (07:00)

Gross Domestic Product (US) (13:30)

M3 Money Supply (EU) (09:00)

Personal Consumption Expenditures (US) (13:30)

Personal Consumption Expenditures (US) (15:00)

Personal Income (US) (15:00)

Personal Spending (US) (15:00)

Producer Price Index (GER) (07:00)



GMS

Amigo Holdings, Quantum Base Holdings



SPECIAL DIVIDEND PAYMENT DATE

Sainsbury (J)



AGMS

AVI Global Trust , AVI Global Trust , Wildcat Petroleum, Wildcat Petroleum



UK ECONOMIC ANNOUNCEMENTS

GFK Consumer Confidence (00:01)

Public Sector Net Borrowing (07:00)

Retail Sales (07:00)



FINAL DIVIDEND PAYMENT DATE

Avingtrans, BlackRock Greater Europe Inv Trust