Wednesday preview: Spring Statement, UK CPI in focus
The Chancellor will be facing a tough crowd when he delivers his Spring Statement what with inflation likely heading towards levels last seen in the 1990s and the ensuing cost-of-living crisis polinig the pressure on all segments of British society.
In particular, Michael Hewson, chief market analyst at CMC Markets UK took issue with the fact that National Insurance contributions were set to rise despite the challenging economic situation the country was already heading into.
An extension of the super deduction on business rates was possible, he added.
Defence was another area that was likely to draw attention in the wake of the invasion of Ukraine.
In timely fashion, before the market open, at 0700 GMT, the Office for National Statistics is scheduled to publish consumer price data for February.
Barclays Research anticipated that it will show a pick up in the annual rate of CPI from 5.5% for the month before to 6.0%.
They were also projecting a further ascent to over 8.0% during the second quarter.
Stateside, three top Federal Reserve officials were due to take to the podium, but two of those, chairman Jerome Powell and St.Louis Fed chief James Bullard, have already given their views on monetary policy earlier this week, so their words may sway the market a bit less this time.
The third official that is due to deliver a speech was Mary Daly, the head of the Federal Reserve Bank of San Francisco.
Across the Channel, at 1400 GMT Eurostat will publish its consumer confidence index for the euro area in March.
Wednesday 23 March
QUARTERLY EX-DIVIDEND DATE
Wheaton Precious Metals Corp.NPV (CDI)
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Crude Oil Inventories (US) (15:00)
MBA Mortgage Applications (US) (11:00)
New Homes Sales (US) (14:00)
GMS
Strategic Equity Capital
FINALS
Dignity, Henry Boot, Judges Scientific, KRM22, Pendragon, Pittards, Sigmaroc , Surgical Innovations Group
AGMS
Gresham House Renewable Energy VCT 2, Quartix Technologies
UK ECONOMIC ANNOUNCEMENTS
Consumer Price Index (07:00)
Producer Price Index (07:00)
Retail Price Index (07:00)
Thursday 24 March
INTERIM DIVIDEND PAYMENT DATE
London Finance & Investment Group, Puma Vct 13
INTERIM EX-DIVIDEND DATE
ADVFN, Close Brothers Group, Craneware, Ferguson, Finsbury Food Group, Fonix Mobile , Mid Wynd International Inv Trust, Volution Group
QUARTERLY EX-DIVIDEND DATE
British American Tobacco
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Continuing Claims (US) (13:30)
Current Account (US) (13:30)
Durable Goods Orders (US) (13:30)
Initial Jobless Claims (US) (13:30)
FINALS
Arbuthnot Banking Group, Arbuthnot Banking Group, Atalaya Mining, Bonhill Group, Bridgepoint Group (Reg S) , Eve Sleep PLC, Robinson, Secure Trust Bank, Sopheon , Starwood European Real Estate Finance Ltd, Venture Life Group, W.A.G Payment Solutions
SPECIAL EX-DIVIDEND DATE
Greggs
AGMS
Blackrock Throgmorton Trust, Gunsynd , Hyundai Motor Company GDR (Reg S), Independent Inv Trust, LG Electronics Inc GDS (Reg S), LPA Group, N4 Pharma , React Group , Rights & Issues Investment Trust
FINAL DIVIDEND PAYMENT DATE
Jersey Electricity 'A' Shares
FINAL EX-DIVIDEND DATE
CLS Holdings, Conduit Holdings Limited Com Shs (DI), Glanbia (CDI), IDOX, Kingspan Group (CDI), Maven Income & Growth 3 VCT, Nichols, Oakley Capital Investments Ltd. (DI), OSB Group , Pearson, Schroders, Schroders (Non-Voting), XP Power Ltd. (DI)