Tuesday preview: China rate decision, Barclays in focus

Investors' focus on Tuesday will be on the People's Bank of China's interest rate decision overnight.

Banks

4,677.17

15:45 15/11/24

1.24%

57.25

Barclays

258.00p

15:45 15/11/24

0.55%

1.40p

FTSE 100

8,060.61

15:45 15/11/24

n/a

FTSE 350

4,453.56

15:45 15/11/24

n/a

FTSE All-Share

4,411.85

15:45 15/11/24

n/a

Consensus was that policymakers would cut rates from 3.45% to 3.3%.

No major economic releases were scheduled in the euro area, UK or US, although consumer price data in Canada might move the dial for some investors.

On the corporate side of things, Barclays is scheduled to report fourth quarter earnings.

UBS analyst Jason Napier was anticipating a 17% year-on-year jump in net interest income to reach £12.41bn, albeit largely offset by a 10% drop in non-interest income to £12.95bn.

For the fourth quarter alone on the other hand, net interest income was seen shrinking 13% to £2.84bn, for stated earnings per share of -0.9p.

A final dividend of 5.5p per share was expected, alongside a £1.0bn share buyback programme.

Napier added that investors' focus would be on Barclays's 2024 guidance and the financial components of its update.

The latter would include its target return on tangible equity, capital allocation to business divisions and capita returns including those funded from disposals.

Tuesday 20 February

INTERIMS

Petra Diamonds Ltd.(DI), Springfield Properties

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Current Account (EU) (09:00)

Gran Tierra Energy Inc. (CDI)

FINALS

Antofagasta, Barclays, InterContinental Hotels Group, Plus500 Ltd (DI)

AGMS

Abrdn Equity Income Trust, Abrdn Equity Income Trust, Carr's Group, Dewhurst Group