Week ahead: UK Withdrawal, China data in focus

All eyes will shift back towards Westminster this coming week, with the Prime Minister set to present her 'Plan B' for Britain's withdrawal from the European Union on Monday, even as she comes under pressure from many sides to cede on some of her 'red lines'.

With an extension of Article 50 increasingly likely, how much ground each side concedes over the coming week may help clarify for just how long such an extension may run, said analysts at Barclays Research.

"A potential game changer could be an extension of Article 50 negotiations beyond six months. Moving the 'ticking clock' would allow a materially wider range of outcomes, including a no-Brexit scenario," they added in a research note sent to clients.

Against that backdrop, on Tuesday, ONS will publish its employment report for December, followed by CBI surveys on factory and retail sector conditions on Wednesday and Friday, respectively.

The other main point of focus over the week will be a slew of Chinese data covering fourth quarter GDP, on Monday, as well as on retail sales, industrial production and fixed asset investment, all for the month of December.

Depending on how those turn out, markets may or may not shift their expectations for further policy easing out of Beijing.

But of course, any important headlines that might surface on the US-China trade front or as regards the partial government shutdown in the States could easily swamp other data and headlines.

The week will also be chock-full when it comes to central banks, with the Bank of Japan set to decide on policy on Wednesday, followed by the European Central Bank on Thursday.

ECB Governing Council members in particular are expected to display a more cautious attitude.

Also scheduled for Thursday are policy meetings in South Korea, Malaysia and Norway.

In terms of Eurozone data, the key releases to watch out for will be the ZEW institute's economic confidence indices for January, on Tuesday, followed by the IFO business confidence gauge on Friday.

IHS Markit's closely-followed manufacturing and services sector PMIs for the euro area are also due out on the last day of the week.

Stateside, markets will remain closed on Monday in observance of the Martin Luther King Jr. memorial.

Come Tuesday and throughout the entire week, invstors' attention will be on the flow of quarterly corporate results.

Data on durable goods orders and new home sales are both scheduled for Friday, but will not be published unless the government shutdown unexpectedly ends.

Monday January 21

INTERIM DIVIDEND PAYMENT DATE

Bonmarche Holdings, Urban Exposure

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Martin Luther King holiday in US (markets closed).

Producer Price Index (GER) (07:00)

FINALS

Premier Veterinary Group

EGMS

Plus500 Ltd (DI)

AGMS

Avacta Group, easyHotel

FINAL DIVIDEND PAYMENT DATE

Cambria Automobiles

Tuesday January 22

INTERIMS

Accrol Group Holdings, IG Group Holdings

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Existing Home Sales (US) (15:00)

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

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

FINALS

Velocity Composites

SPECIAL DIVIDEND PAYMENT DATE

Aberdeen Standard Asia Focus

EGMS

Athelney Trust

AGMS

European Investment Trust, Keystone Inv Trust, Mitchells & Butlers, Polo Resources Ltd. (DI), Sanderson Group, Standard Life Private Equity Trust

TRADING ANNOUNCEMENTS

Close Brothers Group, Dixons Carphone , Midwich Group

UK ECONOMIC ANNOUNCEMENTS

Business Inventories (US) (15:00)

CBI Industrial Trends Surveys (11:00)

Claimant Count Rate (08:30)

Public Sector Net Borrowing (09:30)

FINAL DIVIDEND PAYMENT DATE

Aberdeen Standard Asia Focus , Proactis Holdings

Wednesday January 23

INTERIMS

Joules Group

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Crude Oil Inventories (US) (15:30)

Q3

Burberry Group

FINALS

Harwood Wealth Management Group

EGMS

AXA Property Trust Limited

AGMS

Edinburgh Worldwide Inv Trust, Feedback, Marston's, McCarthy & Stone, Redx Pharma, Schroder Asia Pacific Fund, Troy Income & Growth Trust, WH Smith

TRADING ANNOUNCEMENTS

Antofagasta, Brewin Dolphin Holdings, Burberry Group, Computacenter, Fresnillo, Great Portland Estates, Petropavlovsk, Wetherspoon (J.D.), WH Smith

FINAL DIVIDEND PAYMENT DATE

Diploma, Majedie Investments

Thursday January 24

INTERIMS

NCC Group

INTERIM DIVIDEND PAYMENT DATE

Hibernia Reit

INTERIM EX-DIVIDEND DATE

City of London 4.2% Cum 1st Prf Stk, City of London Investment Trust 4.2% Non-Cum 2nd Prf Stk, City of London Investment Trust Preference Ord Stk 14% Non-Cumulative 1, Pennon Group, Solid State, Stagecoach Group

QUARTERLY EX-DIVIDEND DATE

City of London Inv Trust, Custodian Reit , M Winkworth

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Continuing Claims (US) (13:30)

ECB Interest Rate (EU) (12:45)

GFK Consumer Confidence (GER) (07:00)

Initial Jobless Claims (US) (13:30)

FINALS

Benchmark Holdings , Blue Prism Group

DRILLING REPORT

Anglo American, Kaz Minerals

AGMS

Countryside Properties, Equatorial Palm Oil, ITE Group, RDI Reit , Schroder UK Mid Cap Fund

TRADING ANNOUNCEMENTS

CMC Markets, Daily Mail and General Trust A (Non.V), EMIS Group, Fevertree Drinks, Haynes Publishing Group, ITE Group, Kier Group, NCC Group, Restaurant Group, St James's Place

FINAL EX-DIVIDEND DATE

Cardiff Property, easyHotel, Gooch & Housego, Manchester & London Investment Trust, RWS Holdings, Watkin Jones

Friday January 25

INTERIM DIVIDEND PAYMENT DATE

Aberdeen New Dawn Investment Trust, Auto Trader Group , Cranswick, Dixons Carphone , FIH Group , Fulcrum Utility Services Ltd. (DI), Invesco Asia Trust, Latham (James), Northern 2 VCT, Northern 3 VCT, Northgate, RPC Group, Speedy Hire, Superdry

QUARTERLY PAYMENT DATE

Aberdeen Diversified Income and Growth Trust , General Electric Co, Real Estate Investors, Standard Life Private Equity Trust, Value and Income Trust

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Durable Goods Orders (US) (13:30)

IFO Business Climate (GER) (09:00)

IFO Current Assessment (GER) (09:00)

IFO Expectations (GER) (09:00)

New Homes Sales (US) (15:00)

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

SPECIAL DIVIDEND PAYMENT DATE

Oxford Metrics, Seneca Growth Capital Vct

EGMS

Kcell Joint Stock Co GDR (Reg S)

AGMS

Altona Energy, NU-Oil And Gas , Regency Mines, Treatt

TRADING ANNOUNCEMENTS

Barr (A.G.)

UK ECONOMIC ANNOUNCEMENTS

CBI Distributive Trades Surveys (11:00)

Manufacturing Production (07:00)

FINAL DIVIDEND PAYMENT DATE

Character Group, Inland Homes