Thursday preview: UK GDP, BT Group in focus

The Office for National Statistics is expected to report a 1.0% quarter-on-quarter pace of growth in gross domestic product, following the 1.3% clip observed over the three months to December.

On annual basis, UK economic growth is seen clocking in at 8.9%, against 6.6% during the previous quarter, thanks to the momentum in services sector activity as the economy reopened.

But economists at Barclays Research see the balance of risks to forecasts as lying to the downside.

In a research note sent to clients, they said: "Weaker-than-expected March GDP would mean the UK enters Q2 with less momentum than thought, which all else equal would create downside risks to our (updated) Q2 forecast of -0.3% q/q."

Stateside, the spotlight will be on a report for producer prices in April with investors hoping for signs that further heightened price pressures weren´t in the proverbial pipeline.

No major economic data are scheduled for release across the Channel.

Further afield, CPI data due out in India may underscore the challenges that many emerging economies were facing, not least due to supply disruptions in the wake of the war in Ukraine.

In the corporate space, the market spotlight will be on BT Group as it presents its full-year financials.

Michael Hewson, chief market analyst at CMC Markets UK, put the poor share price reaction to the telecommunications group's third quarter results down to the decision not to sell BT Sport to DAZN for £580m.

News that it would create a sports joint-venture with Discovery had been another drag, Hewson said.

Nonetheless, the results had beat market expectations.

For this time around, consensus was for full year earnings before interest, taxes, depreciation and amortisation of £7.5bn to £7.7bn.

Thursday 12 May

INTERIMS

Grainger, Titon Holdings, Versarien

INTERIM DIVIDEND PAYMENT DATE

SCS Group

INTERIM EX-DIVIDEND DATE

Avingtrans, Coca-Cola Europacific Partners (DI), Fidelity Special Values, Focusrite, VH Global Sustainable Energy Opportunities

QUARTERLY EX-DIVIDEND DATE

BP, Custodian Reit , Ediston Property Investment Company, Greencoat Renewables (CDI), Honeywell International Inc., Octopus Renewables Infrastructure Trust , Picton Property Income Ltd, The Renewables Infrastructure Group Limited

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Continuing Claims (US) (13:30)

Initial Jobless Claims (US) (13:30)

Producer Price Index (US) (13:30)

Q3

Seraphim Space Investment Trust

GMS

Quilter

FINALS

BT Group

ANNUAL REPORT

Plant Health Care

IMSS

Hargreaves Lansdown

AGMS

Alfa Financial Software Holdings , Alfa Financial Software Holdings , Anglo Pacific Group, Baillie Gifford Shin Nippon, Balfour Beatty, BP, Bridgepoint Group (Reg S) , Cairn Homes (CDI), Cineworld Group, Cineworld Group, Circassia Group , Condor Gold, Contour Global , Convatec Group , Empresaria Group, Eurocell , FBD Holdings (CDI), Genel Energy, Gresham House, Hiscox Limited (DI), Howden Joinery Group, Lloyds Banking Group, Logistics Development Group, Logistics Development Group, Luceco , Michelmersh Brick Holdings, OSB Group , Quilter, Rolls-Royce Holdings, Secure Trust Bank, Serinus Energy NPV, Shefa Gems Ltd (DI), SIG, SIG, The Gym Group, Unbound Group, Unite Group

TRADING ANNOUNCEMENTS

Balfour Beatty

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)

RICS Housing Market Survey (00:01)

FINAL DIVIDEND PAYMENT DATE

Moneysupermarket.com Group, Standard Chartered, Transgloble Energy Corporation NPV (DI)

FINAL EX-DIVIDEND DATE

Aptitude Software Group , Bank of Ireland Group (CDI), Barr (A.G.), BlackRock Smaller Companies Trust, Centaur Media, Clarkson, Empresaria Group, Epwin Group, Foxtons Group , Franchise Brands, Greggs, Gresham House, H&T Group, Holders Technology, Inchcape, Lancashire Holdings Limited, Macfarlane Group, Phoenix Spree Deutschland Limited Shs NPV , Reach, Serco Group, Strix Group , Tandem Group