Thursday preview: ECB, Tesla in the spotlight

ecb dl 3 euro bonds frankfurt germany economy — Eurotower, Frankfurt am Main, GermanyCourtesy of the European Central Bank

Tesla Motors Inc

$421.06

13:09 20/12/24

-3.46%

-$15.11

The market spotlight on Thursday will be on the results European Central Bank's policy meeting in Frankfurt.

Nasdaq 100

21,289.15

12:15 20/12/24

0.85%

178.65

Although no changes in policy were anticipated, investors were keen to see whether the monetary authority would sound a more cautious note when it came to potential rate cuts in 2024.

The policy announcement would be forthcoming at 1315 GMT, followed by ECB boss Christine Lagarde's press conference a half hour later.

In the U.S. meanwhile, investors would be waiting on a barrage of economic data.

Key amongst those would be a preliminary reading on fourth quarter U.S. GDP growth.

No major economic reports were due out in the U.K..

In the company space, investors will be digesting electric vehicle manufacturer Tesla's fourth quarter earnings which were due out the night before.

According to CMC Markets UK chief market analyst, Michael Hewson, the share price had stalled due to the carmaker's inability to hit its goal for full-year sales of 20m vehicles, in part due to increased competition, especially in China.

However, one of the main drivers of its sales going forward was expected to be its energy generation unit as EVs became mainstream and Tesla rolled out its charging infrastructure, Hewson noted.

The analyst also pointed out the potential hit to Tesla's sales in the first quarter from disruptions to parts deliveries at its Berlin factory on account of the disruptions in the Red Sea.

Consensus for the company's full-year 2023 sales was $97.3bn.

Thursday 25 January

INTERIMS

IG Group Holdings, Newmark Security PLC, Time Finance

INTERIM DIVIDEND PAYMENT DATE

Sirius Real Estate Ltd., The Global Smaller Companies Trust

INTERIM EX-DIVIDEND DATE

Brickability Group , 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, Ferrexpo, Pennon Group, Solid State

QUARTERLY PAYMENT DATE

General Electric Co (CDI), Law Debenture Corp.

QUARTERLY EX-DIVIDEND DATE

City of London Inv Trust, JPMorgan Claverhouse Inv Trust, Tufton Oceanic Assets Limited NPV

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Continuing Claims (US) (13:30)

Durable Goods Orders (US) (13:30)

GDP (Preliminary) (US) (13:30)

IFO Business Climate (GER) (09:00)

IFO Current Assessment (GER) (09:00)

IFO Expectations (GER) (09:00)

Initial Jobless Claims (US) (13:30)