Wednesday preview: Bank of Canada, German industrial production in focus

Investors' focus in the middle of the week was expected to be on the Bank of Canada.

That was especially true following the Reserve Bank of Australia's surprise rate hike the day before.

Consensus was for no change from Bank of Canada, although Michael Hewson, chief market analysts at CMC Markets UK spied a chance for another unanticipated hike due to still firm wage growth, recent stronger-than-expected figures for hiring slight pick up in price pressures.

"With wage growth also firm at 5.2% there is a chance that we might see another 25bps this week, which could also be a leading indicator for the Federal Reserve a week later," Hewson said.

Across the Channel meanwhile, at 0700 BST Destatis would publish German industrial production data for April.

The session's main risk events would be preceded overnight by a reading for first quarter gross domestic product growth Down Under.

Economists were anticipating the figures would reveal a quarter-on-quarter rate of GDP expansion of 0.6%.

In the US, at 1330 BST the Department of Commerce would release foreign trade data for April.

Elsewhere in North America, rate-setters in Ottawa were expected to stay put on interest rates, keeping them at 4.5%.

Wednesday 7 June

FINALS

Discoverie Group, VP, Evgen Pharma, Loopup Group

INTERIMS

Residential Secure Income, Ramsdens Holdings

AGMs

Pennant International Group, Gem Diamonds Ltd. (DI), Gulf Marine Services, United Oil & Gas, The City Pub Group, Third Point Investors Limited NPV $

ANNUAL REPORT

LXI Reit

FINAL DIVIDEND PAYMENT DATE

Wickes Group, RELX plc, Vanquis Banking Group 20, Porvair

INTERIM DIVIDEND PAYMENT DATE

International Public Partnerships Ltd., Aew UK Reit

QUARTERLY PAYMENT DATE

Ecora Resources

UK ECONOMIC ANNOUNCEMENTS

Halifax House Price Index (07:00)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Industrial Production (GER) (07:00)

MBA Mortgage Applications (US) (12:00)

Balance of Trade (US) (13:30)

Crude Oil Inventories (US) (15:30)

Consumer Credit (US) (20:00)