Thursday preview: BoE unveils latest policy decision amid concerns of low inflation

The Bank of England (BoE) is on Thursday widely expected to keep interest rates at the record low of 0.5% and the asset purchase programme at £375bn.

Gulf Keystone Petroleum Ltd Com Shs (DI)

143.60p

15:45 15/11/24

4.06%

5.60p

PZ Cussons

79.10p

15:39 15/11/24

0.76%

0.60p

The central bank’s chief economist Andy Haldane last month suggested the possibility of a rate cut to address low inflation but Governor Mark Carney has insisted that it would be a poor move.

BoE official David Miles has also warned against a “knee-jerk reaction” to low inflation while Deputy Governor Minouche Shafik said “we shouldn’t change interest rates in response to something that is temporary”.

Other notable events on Thursday’s agenda include UK and German trade data, and US initial jobless claims.

Among companies, Gulf Keystone Petroleum reports its annual results. Westhouse Securities has forecast production of 15,000 barrels of oil per day (kbopd), a 275% increase on the prior year, and sales of $93m.

"With issues around cash revenue payments in the Kurdistan region, we believe the focus will be on the revenue line," said Westhouse analyst Jamal Orazbayeva.

Consumer goods business PZ Cussons releases its interims following the acquisition of its partner Glanbia in Nigeria.
The company is expected to reveal the unrest in Nigeria continues to weaken trading.

The Nigerian market, which accounts for about 22% of the group’s profits, has been affected by tensions with Muslim rebels in the North East, falling oil prices and a weak currency.

Investec predicts full-year revenue of £828.3m and pre-tax profit of £110m, but last week put its forecasts under review.

Thursday 9 April

INTERIMS
Matchtech Group

INTERIM DIVIDEND PAYMENT DATE
JPMorgan Mid Cap Inv Trust, Oxford Instruments

INTERIM EX-DIVIDEND DATE
Animalcare Group, Begbies Traynor Group, Bioventix, Chrysalis VCT, Manchester & London Investment Trust, St Ives

QUARTERLY PAYMENT DATE
GlaxoSmithKline, XP Power Ltd. (DI)

QUARTERLY EX-DIVIDEND DATE
Albion Technology & General VCT, Marsh & Mclennan Cos Inc., Verizon Communications

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Trade (GER) (07:00)
Continuing Claims (US) (13:30)
Current Account (GER) (07:00)
Industrial Production (GER) (11:00)
Initial Jobless Claims (US) (13:30)
Retail Price Index (GER) (07:00)
Wholesales Inventories (US) (15:00)

GMS
Highway Capital

FINALS
Eurasia Drilling Co Ltd GDR (Reg S), Gulf Keystone Petroleum Ltd.(DI), Netplay TV

ANNUAL REPORT
Hill & Smith Holdings, John Laing Group , Secure Trust Bank

IMSS
Hays

SPECIAL EX-DIVIDEND PAYMENT DATE
Catlin Group Ltd., Chrysalis VCT, GVC Holdings, Manchester & London Investment Trust, Next

AGMS
Athelney Trust, Intandem Films, Orange Polska S.A. GDR (Reg S), Smith & Nephew

UK ECONOMIC ANNOUNCEMENTS
Balance of Trade (09:30)
BoE Interest Rate Decision (12:00)

FINAL DIVIDEND PAYMENT DATE
Rio Tinto

FINAL EX-DIVIDEND DATE
4Imprint Group, Aberdeen UK Tracker Trust, Asian Total Return Investment Company, BBA Aviation, Berendsen, Chesnara, EMIS Group, esure Group, Fisher (James) & Sons, Friends Life Group Limited , GKN, Greggs, GVC Holdings, IDOX, IMI, International Personal Finance, Kerry Group 'A' Shares, Miton Group, Rotork, Shore Capital Group Ltd., Smurfit Kappa Group, St James's Place, Standard