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Week Ahead

Week ahead: Bank of England, Federal Reserve, and US non-farm payrolls in focus

By Alexander Bueso

Date: Monday 29 Jan 2024

LONDON (ShareCast) - (Sharecast News) - All eyes over the coming week would be on the Bank of England and the Federal Reserve.
Rate-setters in the U.K. were widely expected to hold their fire.

However, there was interest in whether or not the three hawks on the Monetary Policy Committee would vote again in favour a 25bp rate hike or go along with those members voting for no change, said Michael Hewson at CMC Markets UK.

"The main debate now is not whether we see rate cuts this year, it is when we see rate cuts," he said.

No change in policy was expected either in the case of the U.S. central bank, but there was interest as to whether or not the monetary authority would push back on some market participants' expectations for rate cuts before summer.

Nevertheless, recent strong data had seen Fed funds futures price out rate cuts in the States until May.

U.S. non-farm payrolls due out at the end of the week also held the potential to move financial markets, as did the figures for wage growth contained in the same.

Other important data points to watch out for in the U.S. included the JOLTS labour market report, on Tuesday, the quarterly Employment Cost Index due out the next day, and also on Friday the results of the University of Michigan's latest consumer confidence survey.

Thursday would also bring with it a raft of preliminary factory sector purchasing managers' surveys for January in the U.K., China and euro area.

Preliminary euro area consumer price data would also be forthcoming on Thursday.

Monday 29 January

SPECIAL EX-DIVIDEND DATE

Mondi

EGMS

Landore Resources Limited NPV, Landore Resources Limited NPV

FINAL DIVIDEND PAYMENT DATE

Smart (J) & Co.

Tuesday 30 January

INTERIMS

Accrol Group Holdings, Accrol Group Holdings, Diageo, Kromek Group, Oxford Cannabinoid Technologies Holdings, Scancell Holdings

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Business Climate Indicator (EU) (10:00)

Consumer Confidence (EU) (10:00)

Consumer Confidence (US) (15:00)

Consumer Credit (US) (09:30)

Economic Sentiment Indicator (EU) (10:00)

GDP (Preliminary) (EU) (10:00)

GDP (Preliminary) (GER) (07:00)

House Price Index (US) (14:00)

Industrial Confidence (EU) (10:00)

Services Sentiment (EU) (10:00)

Q4

Banco Bilbao Vizcaya Argentaria SA

FINALS

SThree

AGMS

AJ Bell, Auction Technology Group , Mineral & Financial Investments Limited (DI), Renew Holdings, SSP Group , Webis Holdings

TRADING ANNOUNCEMENTS

Diaceutics , Luceco , Pets at Home Group

UK ECONOMIC ANNOUNCEMENTS

M4 Money Supply (09:30)

Mortgage Approvals (09:30)

Nationwide House Price Index (07:00)

Wednesday 31 January

INTERIMS

ITM Power

INTERIM DIVIDEND PAYMENT DATE

Amedeo Air Four Plus Limited Red Ord NPV, Mitie Group, Smith (DS), Triad Group

QUARTERLY PAYMENT DATE

Balanced Commercial Property Trust Limited , CT Private Equity Trust, Middlefield Canadian Income PCC

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Chicago PMI (US) (14:45)

Crude Oil Inventories (US) (15:30)

Employment Cost Index (US) (13:30)

Import Price Index (GER) (07:00)

MBA Mortgage Applications (US) (12:00)

Retail Sales (GER) (07:00)

Unemployment Rate (GER) (08:55)

Q4

GSK

FINALS

Abrdn Private Equity Opportunities Trust, Banco Santander S.A., GSK

AGMS

Imperial Brands , Mobile Streams, Oxford Metrics, Schroder Asia Pacific Fund

TRADING ANNOUNCEMENTS

SSE

FINAL DIVIDEND PAYMENT DATE

BP 8% Cum 1st Prf, BP 9% 2nd Prf, DotDigital Group, Focusrite, Leeds Building Society 13 3/8% Bearing Shares, Lowland Investment Co, S and U 31.5% Prf. Cum. Prf 12.5P

Thursday 01 February

INTERIMS

Rank Group

INTERIM DIVIDEND PAYMENT DATE

United Utilities Group

INTERIM EX-DIVIDEND DATE

Coral Products, IG Group Holdings, JPMorgan Mid Cap Inv Trust, JPMorgan UK Smaller Companies Investment Trust

QUARTERLY PAYMENT DATE

British American Tobacco, Mercantile Investment Trust (The)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Auto Sales (US) (20:30)

Construction Spending (US) (15:00)

Continuing Claims (US) (13:30)

Initial Jobless Claims (US) (13:30)

ISM Manufacturing (US) (15:00)

ISM Prices Paid (US) (15:00)

PMI Manufacturing (GER) (08:55)

PMI Manufacturing (EU) (09:00)

PMI Manufacturing (US) (14:45)

Q3

Airtel Africa

Q4

Shell

FINALS

Shell

SPECIAL EX-DIVIDEND DATE

Capital Gearing Trust, Hollywood Bowl Group, Impellam Group

AGMS

Cerillion , Keystone Positive Change Investment Trust, Sage Group

TRADING ANNOUNCEMENTS

Barr (A.G.), Cranswick, Gem Diamonds Ltd. (DI), Gem Diamonds Ltd. (DI), JTC

UK ECONOMIC ANNOUNCEMENTS

BoE Interest Rate Decision (12:00)

BoE Interest Rate Minutes (12:00)

PMI Manufacturing (09:30)

Unemployment Rate (EU) (10:00)

FINAL DIVIDEND PAYMENT DATE

Merchants Trust 3.65% Cumulative Preference 1, WH Smith, Witan Investment Trust Plc

FINAL EX-DIVIDEND DATE

Hollywood Bowl Group, JPMorgan Emerging Europe, Middle East & Africa Securities, Paragon Banking Group, SSP Group , Treatt

Friday 02 February

INTERIM DIVIDEND PAYMENT DATE

Bisichi , BT Group, Dr. Martens , Halma, Jet2, QinetiQ Group, Severfield, Thames Ventures Vct 1, Vodafone Group, Workspace Group

QUARTERLY PAYMENT DATE

CT UK High Income Trust, CT UK High Income Trust B

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Factory Orders (US) (15:00)

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

U. of Michigan Confidence (Final) (US) (15:00)

Unemployment Rate (US) (13:30)

ANNUAL REPORT

AB Dynamics, AB Dynamics

SPECIAL DIVIDEND PAYMENT DATE

Property Franchise Group

AGMS

Critical Metals , Gunsynd

FINAL DIVIDEND PAYMENT DATE

Baillie Gifford European Growth Trust , Cardiff Property, Diploma, Topps Tiles

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