Week ahead: US inflation readings, Bank of England in focus

Financial markets' focus over the coming week would be on inflation in the US.

On Wednesday, the Bureau of Labor Statistics was scheduled to publish consumer price data for April.

The annual rate of increase in headline prices was seen steady at 5.0%, while at the core level the Consumer Price Index was seen edging down by a tenth of a percentage point to 5.5%.

Readings for producer and import prices would follow over the next two days.

Also due out were the Fed's Senior Loan Officer Survey on Monday and a preliminary reading on the University of Michigan's consumer confidence index for May on Friday.

Against that backdrop, come Thursday the Bank of England was expected to announce a 25 basis point interest rate hike in Bank Rate to 4.50%.

Economists at Bank of America were expecting a 7-2 vote on the Monetary Policy Committee in favour of a hike with no substantial modifications to guidance.

A bias towards further hikes would remain, but upside surprises to inflation would be required in order for new rate increases to materialise.

On Friday, the Office for National Statistics would follow up with a reading for gross domestic product growth in the first quarter of the year.

Across the Channel, on Monday the European Central Bank would release the results of its survey of professional forecasters.

China would also be in the spotlight throughout the week with foreign trade data due out on Tuesday, money supply figures on Wednesday and a reading for consumer prices on Thursday.

Monday May 08

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Industrial Production (GER) (07:00)

Wholesales Inventories (US) (15:00)

Tuesday May 09

INTERIMS

Treatt

INTERIM EX-DIVIDEND DATE

Weiss Korea Opportunity Fund Ltd

FINALS

Tialis Essential IT

SPECIAL DIVIDEND PAYMENT DATE

Alfa Financial Software Holdings

AGMS

Caledonia Mining Corporation (DI), Direct Line Insurance Group, Foxtons Group , Hostelworld Group , Just Group, Macfarlane Group, Midwich Group, Osirium Technologies, Windward Ltd. (DI)

TRADING ANNOUNCEMENTS

Diversified Energy Company

UK ECONOMIC ANNOUNCEMENTS

BRC Sales Monitor (00:01)

Halifax House Price Index (07:00)

FINAL DIVIDEND PAYMENT DATE

Capital Limited (DI), Kingspan Group (CDI), Rathbones Group, Thungela Resources Limited NPV (DI)

Q1

Kosmos Energy (DI)

Wednesday May 10

INTERIMS

ASOS, Compass Group, Hambro Perks Acquisition Company Limited CLS A ORD NPV

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Budget Statement (US) (19:00)

Consumer Price Index (GER) (07:00)

Consumer Price Index (US) (13:30)

Crude Oil Inventories (US) (15:30)

MBA Mortgage Applications (US) (12:00)

FINALS

Airtel Africa , Anexo Group , Directa Plus, Directa Plus, Ondine Biomedical Inc. NPV (CDI), Vertu Motors

AGMS

Abrdn , Abrdn Asian Income Fund Limited NPV, Abrdn Asian Income Fund Limited NPV, AIREA, Cenkos Securities, Centaur Media, Dunedin Enterprise Investment Trust, Ecora Resources, Fidelity European Trust, Harbour Energy , Jupiter Fund Management , Literacy Capital , Luceco , Marshalls, National Express Group, Rentokil Initial, Seplat Energy (DI), Spirax-Sarco Engineering, Tclarke , The Renewables Infrastructure Group Limited

TRADING ANNOUNCEMENTS

HydrogenOne Capital Growth

FINAL DIVIDEND PAYMENT DATE

DFI Retail Group Holdings Limited (Bermuda Regd), DFI Retail Group Holdings Limited (Jersey Reg), DFI Retail Group Holdings Limited (Sing.Reg), Hongkong Land Holding Ltd. (Bermuda), Hongkong Land Holding Ltd. (Jersey), Hongkong Land Holding Ltd. (Sing.Reg), Jardine Matheson Holdings Ltd (Singapore Reg), Jardine Matheson Holdings Ltd. (Bermuda), Jardine Matheson Holdings Ltd. (Jersey), Phoenix Group Holdings , Spirent Communications

Q1

Georgia Capital

Thursday May 11

INTERIMS

Grainger, Grainger

INTERIM DIVIDEND PAYMENT DATE

SCS Group , VinaCapital Vietnam Opportunity Fund Ltd.

INTERIM EX-DIVIDEND DATE

Avingtrans, British Smaller Companies VCT 2, Coca-Cola Europacific Partners (DI), Fidelity Special Values, Focusrite, HSBC Holdings, James Halstead

QUARTERLY PAYMENT DATE

Mercantile Investment Trust (The), Tufton Oceanic Assets Limited NPV

QUARTERLY EX-DIVIDEND DATE

BP, Chenavari Toro Income Fund Limited NPV, Custodian Property Income Reit, Ediston Property Investment Company, Greencoat Renewables (CDI), JPMorgan Claverhouse Inv Trust, Pollen Street

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Continuing Claims (US) (13:30)

Initial Jobless Claims (US) (13:30)

Producer Price Index (US) (13:30)

AGMS

88 Energy Limited (DI), Cairn Homes (CDI), Capita, Clarkson, Condor Gold, Costain Group, Elecosoft Public Limited Company, Endeavour Mining, Eurocell , FBD Holdings (CDI), Genel Energy, Gresham House, Hiscox Limited (DI), Irish Continental Group Units (Comp) (CDI), Kenmare Resources (CDI), Maven Income & Growth 4 VCT, MyHealthchecked, OSB Group , Poolbeg Pharma, Rolls-Royce Holdings, Serinus Energy NPV, Spire Healthcare Group, The Gym Group, Uniphar (CDI), Videndum , W.A.G Payment Solutions , Wood Group (John)

TRADING ANNOUNCEMENTS

Balfour Beatty, Rolls-Royce Holdings, Videndum

UK ECONOMIC ANNOUNCEMENTS

BoE Interest Rate Decision (12:00)

RICS Housing Market Survey (00:01)

FINAL DIVIDEND PAYMENT DATE

Domino's Pizza Group, F&C Investment Trust, Grafton Group Ut (CDI), Moneysupermarket.com Group, Schroder Asian Total Return Investment Company , Standard Chartered

FINAL EX-DIVIDEND DATE

Bank of Ireland Group (CDI), Barr (A.G.), Centaur Media, Clarkson, CVC Income & Growth Limited NPV Euro, CVC Income & Growth Limited NPV GBP, Epwin Group, Global Opportunities Trust, Headlam Group, Inchcape, Invesco Perpetual UK Smaller Companies Inv Trust, Lookers, Macfarlane Group, Petershill Partners , Property Franchise Group, Reach, Serco Group, SThree, Tandem Group, TBC Bank Group, Tesco

Q1

TBC Bank Group

Friday May 12

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Import and Export Price Indices (US) (13:30)

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

FINALS

CMO Group

AGMS

Balfour Beatty, Derwent London, GreenRoc Mining, HUTCHMED (China) Limited, Wheaton Precious Metals Corp.NPV (CDI)

TRADING ANNOUNCEMENTS

Beazley

UK ECONOMIC ANNOUNCEMENTS

Balance of Trade (07:00)

GDP (Preliminary) (07:00)

Gross Domestic Product (07:00)

Index of Services (07:00)

Industrial Production (07:00)

Manufacturing Production (07:00)

FINAL DIVIDEND PAYMENT DATE

AIB Group (CDI), Antofagasta, Carr's Group, Franchise Brands, Gemfields Group Limited, Hunting, Ibstock , IMI, Johnson Service Group, Kerry Group 'A' Shares (CDI), Me Group International, Mondi, Smurfit Kappa Group (CDI), Taylor Wimpey

Q1

Allianz Technology Trust