Week ahead: Fed and BoE rate decisions, US jobs in focus
Investors will have their work cut out for them over the coming week with an economic calendar full of significant risk events, including interest rate decisions from the US Federal Reserve and Bank of England, as well as the all important monthly US jobs report.
It is widely anticipated that on Wednesday the US Federal Reserve will announce the start of tapering of its asset purchases as well as the timetable at which they will be wound down.
The next day, the BoE is expected to signal that it may raise Bank Rate when it next meets, although the balance of MPC votes is also expected to show that it now intends to maintain the size of its Gilt purchase programme, instead of possibly decreasing it.
Worth noting, there is some talk in markets that Bank could be headed for a policy mistake should it move too aggressively on rates.
Commenting on the outlook for the BoE´s decision, Michael Hewson, chief market analyst at CMC Markets UK, said: "A rate increase of 0.15% to 0.25% would not be the end of the world and would be entirely consistent with the recovery in the UK economy seen since the emergency measures were implemented back in March 2020.
"It will be how the central bank manages the message when it comes to further rate rises that will be key, and not whether they raise rates this week, or at next month’s meeting. The central bank will likely have to raise its outlook for inflation, while at the same time adjusting its growth forecasts as part of this week’s inflation report."
Against that backdrop, on Monday investors will be digesting key manufacturing survey results out of China, the UK and US.
They will be followed two days later by equivalent surveys for services.
Euro area survey results for each of those sectors are also scheduled for release, but on Tuesday and Thursday.
Capping it all off, on Friday, the US Department of Labor will publish its non-farm payrolls report for October.
Monday 01 November
INTERIM DIVIDEND PAYMENT DATE
Lords Group Trading, Wickes Group, WPP
QUARTERLY PAYMENT DATE
Mercantile Investment Trust (The), Scottish Inv Trust
QUARTERLY EX-DIVIDEND DATE
Tetragon Financial Group Limited
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Auto Sales (US) (20:30)
Construction Spending (US) (15:00)
PMI Manufacturing (GER) (08:55)
PMI Manufacturing (US) (14:45)
Retail Sales (GER) (07:00)
Q3
Argo Blockchain, Gran Tierra Energy Inc. (CDI)
FINALS
K3 Capital Group , Lok'n Store Group
AGMS
VietNam Holding Ltd
UK ECONOMIC ANNOUNCEMENTS
PMI Manufacturing (09:30)
FINAL DIVIDEND PAYMENT DATE
Smith (DS)
Tuesday 02 November
INTERIMS
FD Technologies Public Limited Company
INTERIM DIVIDEND PAYMENT DATE
Banco Santander S.A.
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
PMI Manufacturing (EU) (09:00)
Q3
BP, Standard Chartered
FINALS
Oncimmune Holdings, Up Global Sourcing Holdings
SPECIAL EX-DIVIDEND DATE
Alternative Liquidity Fund Limited
AGMS
JPMorgan Mid Cap Inv Trust, Murray Income Trust
TRADING ANNOUNCEMENTS
Flutter Entertainment (CDI)
Wednesday 03 November
INTERIMS
Braemar Shipping Services, Esken Limited, Trainline
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Crude Oil Inventories (US) (14:30)
Factory Orders (US) (14:00)
ISM Prices Paid (US) (15:00)
ISM Services (US) (15:00)
MBA Mortgage Applications (US) (11:00)
PMI Composite (GER) (08:55)
PMI Composite (US) (14:45)
PMI Services (GER) (08:55)
PMI Services (US) (14:45)
Unemployment Rate (EU) (09:00)
Q3
Amryt Pharma
FINALS
Nanoco Group
AGMS
Hansard Global, Manchester & London Investment Trust
TRADING ANNOUNCEMENTS
AIB Group (CDI), Coca-Cola HBC AG (CDI), Ibstock , Next, Smurfit Kappa Group (CDI)
FINAL DIVIDEND PAYMENT DATE
Mattioli Woods
Thursday 04 November
INTERIMS
BT Group, Electrocomponents, Sainsbury (J), Wizz Air Holdings
INTERIM DIVIDEND PAYMENT DATE
Anglo Asian Mining, Cenkos Securities, EMIS Group, Fintel, Synthomer
INTERIM EX-DIVIDEND DATE
Atalaya Mining, Balfour Beatty, Bloomsbury Publishing, Hilton Food Group, Maven Income & Growth VCT, SThree, Taylor Maritime Investments Limited NPV, Taylor Maritime Investments Limited NPV, The Mission Group
QUARTERLY EX-DIVIDEND DATE
Contour Global , Greencoat Renewables (CDI), Picton Property Income Ltd, Unilever
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Continuing Claims (US) (12:30)
Factory Orders (GER) (07:00)
Initial Jobless Claims (US) (12:30)
ISM Manufacturing (US) (14:00)
ISM Prices Paid (US) (14:00)
PMI Composite (EU) (09:00)
PMI Services (EU) (09:00)
Producer Price Index (EU) (10:00)
Q3
Bank Pekao SA GDS (Reg S)
FINALS
Gattaca
SPECIAL EX-DIVIDEND DATE
Crown Place VCT
AGMS
Argos Resources Ltd. (DI), Capital Metals, Induction Healthcare Group, NCC Group, Provexis
TRADING ANNOUNCEMENTS
Derwent London, Howden Joinery Group, Lancashire Holdings Limited, Smith & Nephew
UK ECONOMIC ANNOUNCEMENTS
BoE Interest Rate Decision (12:00)
PMI Construction (09:30)
FINAL DIVIDEND PAYMENT DATE
Begbies Traynor Group
FINAL EX-DIVIDEND DATE
Ashmore Group, EKF Diagnostics Holdings , Ideagen, New Star Investment Trust, NWF Group, Ricardo, Schroder Japan Growth Fund, Springfield Properties
Friday 05 November
INTERIMS
Kainos Group
INTERIM DIVIDEND PAYMENT DATE
Andrews Sykes Group, Bank of Georgia Group, Bodycote, JPMorgan Russian Securities, Judges Scientific, M. P. Evans Group, Medica Group , Personal Group Holdings, STV Group, TP Icap Group , Travis Perkins, Weir Group
QUARTERLY PAYMENT DATE
BMO UK High Income Trust , BMO UK High Income Trust B Shares
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Credit (US) (19:00)
Industrial Production (GER) (07:00)
Non-Farm Payrolls (US) (12:30)
Retail Sales (EU) (10:00)
Unemployment Rate (US) (12:30)
Q3
International Consolidated Airlines Group SA (CDI)
SPECIAL DIVIDEND PAYMENT DATE
Alfa Financial Software Holdings , Travis Perkins
EGMS
Hochschild Mining
AGMS
Go-Ahead Group
TRADING ANNOUNCEMENTS
Beazley
UK ECONOMIC ANNOUNCEMENTS
Halifax House Price Index (07:00)
FINAL DIVIDEND PAYMENT DATE
Brooks Macdonald Group