Thursday preview: ECB, Amazon in focus

The market spotlight on Thursday would be on the European Central Bank.

At 1315 BST, rate-setters in Frankfurt were expected to announce that they kept rates steady at 4.5%.

However, what would matter most is what ECB chief, Christine Lagarde, had to say her in her press conference afterwards, starting from 1345 BST.

In between, at 1330 BST the Department of Commerce was scheduled to publish a preliminary estimate for third quarter domestic product growth.

Consensus was for a pick up in the pace of economic activity to a quarterly annualised clip of 4.3%, after growth of 2.1% over the preceding three months.

Also due out in parallel were readings for weekly jobless claims, alongside readings on durable goods orders and international trade in September.

On the corporate side of things, US online retailer Amazon was scheduled to post its third quarter financials.

The company had guided towards quarterly sales of between $138-143bn with analysts having penciled in earnings per share of US 58 cents.

"Investors will be looking for revenue growth in both online stores as well as AWS which is expected to see revenues increase to $23.2bn. Recent numbers would appear to suggest that Amazon has managed to bounce back from a disappointing 2022 when it reported significant losses, prompting significant cost cutting measures as well as headcount reduction," said Michael Hewson, chief market analyst at CMC Markets UK.

"Looking ahead to Q4 Amazon is likely to face challenges from a consumer slowdown, while the business is also looking to the future having invested up to $4bn in AI startup Anthropic."

Thursday 26 October

INTERIMS

Bloomsbury Publishing, e-Therapeutics, C&C Group (CDI), HarbourVest Global Private Equity Limited A Shs

Q3

PPHE Hotel Group Ltd

TRADING ANNOUNCEMENTS

WPP, Inchcape

AGMs

Brooks Macdonald Group, Mattioli Woods, Novacyt S.A. (CDI), Filtronic

Feedback, Alumasc Group, Mid Wynd International Inv Trust, Hipgnosis Songs Fund Limited NPV, South32 Limited (DI), TMT Acquisition, Made Tech Group

Global Invacom Group Limited (DI)

EGMs

Hipgnosis Songs Fund Limited NPV

GMs

Air China Ltd.

FINAL EX-DIVIDEND DATE

JPMorgan UK Smaller Companies Investment Trust, Dunelm Group, MJ Gleeson, Mulberry Group, Pacific Horizon Inv Trust, Sylvania Platinum Ltd (DI), Asia Dragon Trust, Thorpe (F.W.), Avingtrans

FINAL DIVIDEND PAYMENT DATE

Miton UK Microcap Trust

INTERIM EX-DIVIDEND DATE

Bankers Inv Trust, Pembroke Vct B, Morgan Advanced Materials, Serica Energy, Aew UK Reit, Abrdn New Dawn Investment Trust, Headlam Group, Abrdn Asian Income Fund Limited NPV, Ecofin Global Utilities and Infrastructure Trust, CQS Natural Resources Growth and Income, Henderson Far East Income Ltd., CQS New City High Yield Fund Limited, JPMorgan Global Core Real Assets Limited, Balfour Beatty, Sequoia Economic Infrastructure Income Fund Limited

INTERIM DIVIDEND PAYMENT DATE

Morgan Sindall Group, Smart Metering Systems, Trinity Exploration & Production

SPECIAL EX-DIVIDEND DATE

B.P. Marsh & Partners

QUARTERLY EX-DIVIDEND DATE

Tufton Oceanic Assets Limited NPV, Brunner Inv Trust, City of London Inv Trust, Custodian Property Income Reit, JPMorgan Claverhouse Inv Trust

QUARTERLY PAYMENT DATE

Law Debenture Corp.

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

ECB Interest Rate (EU) (13:15)

Continuing Claims (US) (13:30)

Durable Goods Orders (US) (13:30)

GDP (Preliminary) (US) (13:30)

Initial Jobless Claims (US) (13:30)

Pending Homes Sales (US) (15:00)