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Thursday preview: US Q1 GDP, Sainsbury in the spotlight

Wed, 26th Apr 2023 16:37

(Sharecast News) - All eyes on Thursday would be on a first estimate for US economic growth at the start of 2023.

At 1330 BST, the Department of Commerce was expected to announce that gross domestic product expanded at an annualised pace of 2.0% over the three months to March.

That would be down from the 2.6% pace observed during the fourth quarter of 2022.

A reading for core PCE prices contained in the same report was seen ticking up by two tenths of a percentage point to 4.6%.

As ever, the latest weekly unemployment claims data for the week before would also be scrutinised for any signs of slower hiring.

In the euro area, at 1000 BST the European Commission would release its economic confidence index for the month of April.

On the corporate side of things, Sainsbury was due to report its full-year results.

The most recent guidance from the grocer was for a full-year underlying profit before tax at the upper end of £630m to £690m.

While price and margin pressures had continued to act as headwinds, end-March data from Kantar revealed that 12-week sales was running at 6.9%.

The latter, said Michael Hewson, chief market analyst at CMC Markets UK, compared "very favourably" to its rivals.

More recently, news that Bestway Group had taken out a stake of 3.45% had pushed the shares to their highest level in over a year.

Nonetheless, according to Hewson the obstacles to a bid materialising remained "high".

Thursday 27 April

INTERIM DIVIDEND PAYMENT DATE

Hansard Global

INTERIM EX-DIVIDEND DATE

Pembroke Vct B

QUARTERLY EX-DIVIDEND DATE

City of London Inv Trust, Tufton Oceanic Assets Limited NPV

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)

Industrial Confidence (EU) (10:00)

Initial Jobless Claims (US) (13:30)

Pending Homes Sales (US) (15:00)

Services Sentiment (EU) (10:00)

FINALS

Novacyt S.A. (CDI), Sainsbury (J), Shield Therapeutics, Synairgen

SPECIAL DIVIDEND PAYMENT DATE

Essentra

SPECIAL EX-DIVIDEND DATE

Me Group International

AGMS

Admiral Group, AFC Energy, AstraZeneca, BP, CRH (CDI), Dalata Hotel Group (CDI), Develop North, Dial Square Investments, F&C Investment Trust, Flutter Entertainment (CDI), Helios Towers , Ibstock , International Personal Finance, Kerry Group 'A' Shares (CDI), London Stock Exchange Group, Quixant, Robert Walters, Robert Walters, Schroders, Serco Group, Smithson Investment Trust, Societatea Energetica Electrica SA GDR (Reg S), STV Group, Synectics, Taylor Wimpey, Tissue Regenix Group, Weir Group

TRADING ANNOUNCEMENTS

Currys , Howden Joinery Group, Inchcape, London Stock Exchange Group, PPHE Hotel Group Ltd, Taylor Wimpey, Unilever, WPP

FINAL DIVIDEND PAYMENT DATE

Entain, Haleon , XP Power Ltd. (DI)

FINAL EX-DIVIDEND DATE

AVI Japan Opportunity Trust , Bakkavor Group , Banco Santander S.A., Bridgepoint Group (Reg S) , Central Asia Metals, Coats Group, Croda International, Derwent London, Fresnillo, Gemfields Group Limited, Greggs, Gresham Technologies, Legal & General Group, LSL Property Services, M. P. Evans Group, Morgan Sindall Group, Mortgage Advice Bureau (Holdings) , PPHE Hotel Group Ltd, Relx plc, Rightmove, Robert Walters, Secure Trust Bank, Senior, Stelrad Group , The Pebble Group, TT Electronics, Tyman

Q1

AstraZeneca, Barclays, St James's Place

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