Week ahead: Federal Reserve meeting, Greece negotiations in focus

Investors will keep close tabs on the result of the Federal Reserve’s next two-day policy meeting on Wednesday for any change of tone in the US central bank’s policy statement.

That comes as investors continue to struggle to reconcile Fedspeak calling for two and even up to three rate hikes over the rest of the year with financial markets currently pricing about even odds of just one additional round of monetary tightening in 2016.

US first quarter gross domestic data scheduled for release on the following day may serve to highlight the risk the Fed runs of possibly painting itself into a corner, although statistics on economic growth around the turn of the year are notoriously unreliable for well-documented reasons.

Ahead of that event, on Friday analysts at Deutsche Bank wrote to clients to say that “market expectations for the Fed already appear close to maximum ‘dovishness’, with improving US macro momentum, lower financial stress and rising inflation all making it more likely that the Fed will attempt another rate hike over the coming months.”

In the UK on the other hand, Wednesday’s preliminary GDP estimates might easily make the headlines the next day if Credit Suisse is right in forecasting quarterly growth of 0.4% instead of the 0.6% pencilled in by the consensus.

Monday release of the IFO institute’s closely-followed business confidence index for April will also be in focus, following the lacklustre ‘flash’ Eurozone purchasing managers’ indices from Markit on 22 April.

A successful start to negotiations between the European Commission, the International Monetary Fund and Athens, possibly as soon as Thursday, on alleviating the Mediterranean country’s debt burden, would come as a relief to financial markets.

Monday 25 April

INTERIMS
Avacta Group, Lok'n Store Group

QUARTERLY PAYMENT DATE
SQN Asset Finance Income Fund Limited

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
IFO Business Climate (GER) (09:00)
IFO Current Assessment (GER) (09:00)
IFO Expectations (GER) (09:00)
New Home Sales (US) (15:00)

FINALS
Dillistone Group, GVC Holdings, London Capital Group Holdings, Randall & Quilter Investment Holdings (DI)

ANNUAL REPORT
Allied Minds

SPECIAL DIVIDEND PAYMENT DATE
Headlam Group

AGMS
Biome Technologies, Foresight Solar Fund Limited, Grupo Clarin SA GDR (Reg S), Hammerson, M Winkworth, Minoan Group, Sterling Energy, TBC Bank Joint Stock Company GDR (REGS)

TRADING ANNOUNCEMENTS
GVC Holdings

UK ECONOMIC ANNOUNCEMENTS
CBI Industrial Trends Surveys (11:00)

FINAL DIVIDEND PAYMENT DATE
Domino's Pizza Group

Q1
O'Key Group GDR (Reg S) (WI)

Tuesday 26 April

INTERIMS
AB Dynamics, Egdon Resources, Focusrite, Redefine International

INTERIM DIVIDEND PAYMENT DATE
Brooks Macdonald Group

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Confidence (US) (15:00)
Durable Goods Orders (US) (13:30)

GMS
Fondul Proprietatea S.A. GDR (Reg S)

FINALS
Atlas Mara Limited (DI), Boohoo.com, Cambian Group, Horizon Discovery Group, Redt Energy , Vimetco NV GDR (Reg S)

EGMS
Fondul Proprietatea S.A. GDR (Reg S)

AGMS
Aqua Bounty Technologies Inc. (DI), Byblos Bank SAL GDR (Reg S), Dialight, Equiniti Group , Foreign and Colonial Inv Trust, Fyffes, Harworth Group, Jardine Lloyd Thompson Group, Modern Water, Polar Capital Global Financials Trust

TRADING ANNOUNCEMENTS
British American Tobacco, Carpetright, Jardine Lloyd Thompson Group, Petra Diamonds Ltd.(DI), St James's Place, Standard Chartered

UK ECONOMIC ANNOUNCEMENTS
BBA Mortgage Lending Figures (09:30)

Q1
BP, Torchmark Corp.

Wednesday 27 April

INTERIMS
British American Tobacco, Character Group, Fenner, Proactis Holdings

INTERIM DIVIDEND PAYMENT DATE
Orchard Funding Group

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Crude Oil Inventories (US) (15:30)
FOMC Interest Rate (US) (19:00)
GFK Consumer Confidence (GER) (07:00)
M3 Money Supply (EU) (09:00)
MBA Mortgage Applications (US) (12:00)
Pending Homes Sales (US) (15:00)

Q4
Apax Global Alpha Limited

GMS
Societatea Commerciala De Distributie Si Furnizare A Energiei Electrice S.A. GDR (Reg S)

FINALS
Aseana Properties Ltd., Home Retail Group, Minds + Machines Group Limited (DI)

ANNUAL REPORT
Minds + Machines Group Limited (DI)

IMSS
Barclays, London Stock Exchange Group

EGMS
Matomy Media Group Limited (DI) , Societatea Commerciala De Distributie Si Furnizare A Energiei Electrice S.A. GDR (Reg S)

AGMS
Amec Foster Wheeler, Bank of America Corp., British American Tobacco, Countrywide, Devro, Fidessa Group, Genel Energy, Glanbia, Global Invacom Group Limited (DI), Greencoat UK Wind, Kennedy Wilson Europe Real Estate , Kerry Group 'A' Shares, Nichols, Opera Investments, Symphony International Holdings Ltd., Synectics

TRADING ANNOUNCEMENTS
Amec Foster Wheeler, Antofagasta, CRH, Croda International, Elementis, Henderson Group, London Stock Exchange Group, Stagecoach Group, Standard Life

UK ECONOMIC ANNOUNCEMENTS
CBI Distributive Trends Surveys (11:00)
GDP (Preliminary) (09:30)
Index of Services (09:30)

FINAL EX-DIVIDEND DATE
Rolls-Royce Holdings

Q1
Antofagasta, GlaxoSmithKline, Norsk Hydro ASA, Ooredoo Q.S.C. GDR (Reg S)

Thursday 28 April

INTERIM EX-DIVIDEND DATE
Barratt Developments, BlackRock Greater Europe Inv Trust, Dunedin Enterprise Investment Trust, Games Workshop Group, McCarthy & Stone, Oxford Technology 3 VCT, Project Finance Investments Limited, Sequoia Economic Infrastructure Income Fund Limited , Wetherspoon (J.D.)

QUARTERLY EX-DIVIDEND DATE
City of London Inv Trust, JPMorgan Claverhouse Inv Trust, Unilever

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Continuing Claims (US) (13:30)
GDP (Preliminary) (US) (13:30)
Initial Jobless Claims (US) (13:30)
Unemployment Rate (GER) (08:55)

GMS
Societatea Nationala De Gaze Naturale Romgaz S.A. GDR (Reg S)

FINALS
Air Partner, Camellia, Camellia, GameAccount Network, Greka Engineering & Technology Ltd. (DI), Harvey Nash Group, Inspiration Healthcare Group , Oxford Biomedica, U And I Group

IMSS
Lloyds Banking Group

SPECIAL EX-DIVIDEND PAYMENT DATE
Elementis, Foxtons Group , ITV

EGMS
JSC Kazkommertsbank GDR (Reg S)

AGMS
7Digital Group , Aberdeen UK Tracker Trust, Admiral Group, AFC Energy, Aggreko, ARM Holdings, Barclays, Berendsen, BlackRock World Mining Trust, Cobham, COLT Group SA, CRH, FDM Group (Holdings), Globaltrans Investment GDR (Reg S), Gresham Computing, H&T Group, Henderson Group, LSL Property Services, Manx Financial Group, Pendragon, Servelec Group , Shire Plc, SpaceandPeople, Sphere Medical Holding, Synthomer, Taylor Wimpey, Tullow Oil

TRADING ANNOUNCEMENTS
Aggreko, Berendsen, Cobham, Howden Joinery Group, Howden Joinery Group, Kaz Minerals , Lloyds Banking Group, Pendragon, Schroders, Taylor Wimpey, Weir Group, WPP

UK ECONOMIC ANNOUNCEMENTS
Nationwide House Price Index (07:00)

FINAL EX-DIVIDEND DATE
Action Hotels, Capital Drilling Ltd. (DI), Cenkos Securities, Churchill China, Cobham, Elementis, Eurocell , Foxtons Group , G4S, Henry Boot, Highland Gold Mining Ltd., Hostelworld Group , Informa, Invesco Perpetual UK Small Companies Inv Trust, ITV, Legal & General Group, McColl's Retail Group , Merlin Entertainments , Microgen, Mobeus Income & Growth Vct, Morgan Sindall Group, National Express Group, Octopus AIM VCT 2, Polypipe Group , Porvair, Rathbone Brothers, Regus, Relx plc, Senior, SIG, Smart Metering Systems, Spirax-Sarco Engineering, StatPro Group, SThree, Travis Perkins, Tullett Prebon, UBM, Weir Group, William Hill

Q1
First Quantum Minerals Ltd.

Friday April 29

INTERIM DIVIDEND PAYMENT DATE
Abbey, Henderson EuroTrust, Manchester & London Investment Trust, Marwyn Value Investors Limited, Softcat, UK Mortgages Limited , Wolseley

QUARTERLY PAYMENT DATE
Albion Technology & General VCT, Ediston Property Investment Company, Middlefield Canadian Income PCC, Schroder Income Growth Fund, Torchmark Corp., TwentyFour Select Monthly Income Fund Limited

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Chicago PMI (US) (02:45)
Consumer Sentiment (US) (15:00)
Personal Consumption Expenditures (US) (13:30)
Personal Income (US) (13:30)
Personal Spending (US) (13:30)
Retail Sales (GER) (07:00)
Unemployment Rate (EU) (10:00)

FINALS
Flowgroup

ANNUAL REPORT
Plaza Centers NV

IMSS
COLT Group SA

SPECIAL DIVIDEND PAYMENT DATE
Manchester & London Investment Trust, Octopus Titan VCT

EGMS
BBGI SICAV S.A. (DI)

AGMS
Alpha Pyrenees Trust Ltd., Asian Total Return Investment Company, AstraZeneca, BBGI SICAV S.A. (DI), BlackRock Latin American Inv Trust, FBD Holdings, GLI Finance Limited, Laird, O'Key Group GDR (Reg S) (WI), Pearson, Ultra Electronics Holdings

TRADING ANNOUNCEMENTS
Rotork, Royal Bank of Scotland Group, Ultra Electronics Holdings

UK ECONOMIC ANNOUNCEMENTS
GFK Consumer Confidence (00:05)
M4 Money Supply (09:30)
Mortgage Approvals (09:30)

FINAL DIVIDEND PAYMENT DATE
Amino Technologies, EMIS Group, Glanbia, Hammerson, Maven Income & Growth 3 VCT, Maven Income and Growth VCT 5, Octopus Titan VCT , Old Mutual, Real Estate Investors, SpaceandPeople, Wynnstay Group

FINAL EX-DIVIDEND DATE
Servelec Group

Q1
AstraZeneca, International Consolidated Airlines Group SA (CDI), International Consolidated Airlines Group SA (CDI), Royal Bank of Scotland Group, Shire Plc, Telefonica SA