Portfolio

Tuesday preview: Fed's Powell, EasyJet in the spotlight

By Alexander Bueso

Date: Tuesday 30 Nov 2021

Tuesday preview: Fed's Powell, EasyJet in the spotlight

(Sharecast News) - The market spotlight on Tuesday was likely to be on testimony from the head of the US Federal Reserve, Jerome Powell, and US Treasury Secretary Janet Yellen, both of whom were due to testify before a Senate panel on the CARES Act Relief programme.


Investors were likely keen to see if top US central bank officials, in particular, dropped any hints regarding the outlook for policy in the wake of the appearance of the new Covid-19 variant, although it might yet be a bit too early to expect much.

Powell and Yellen were scheduled to testify at 1500 GMT.

Ahead of their remarks, overnight, in China, the National Bureau of Statistics was set to publish its 'official' factory sector Purchasing Managers' Index for the month of November.

Although it was expected to reveal a modest improvement, financial markets might well decide that the readings were a bit dated given the advent of the Omicron variant of Covid-19.

On home shores meanwhile, the Lloyds business barometer for the month of November was the sole piece of fresh economic data due out, also overnight.

Across the Channel, Eurostat was set to publish preliminary figures for euro area consumer prices in November.

Consensus was for a rise in the year-on-year rate of inflation from 5.4% to 5.6%.

Several top European Central Bank officials were also scheduled to take to the podium, including ECB boss, Christine Lagarde herself, the vice-president, Luis de Guindos, and governing council member Isabel Schnabel.

On the corporate side of things, Easyjet would update investors on its full-year earnings.

According to UBS analyst, Jarrod Castle, even before Omicron, financial markets were already pricing-in a reduction in capacity expectations.

As for its bottom line, the carrier had guided towards a loss before tax of £1.14-1.18bn, against Castle on -£1.16bn.

Markets were expected to focus on the company's first quarter trading and its outlook for the first half of 2022, he said, with the 2021 results "unlikely to drive the shares".

Tuesday 30 November

INTERIMS

GB Group, Pennon Group, System1 Group, VP, Wise Class A

INTERIM DIVIDEND PAYMENT DATE

BAE Systems, LLoyds Banking Group 9.25% Non-Cum Irredeemable Pref Shares, LLoyds Banking Group 9.75% Non-Cum Irredeemable Pref Shares

INTERIM EX-DIVIDEND DATE

James Halstead 5.5% Cumulative Preference 1

QUARTERLY PAYMENT DATE

BMO Commercial Property Trust Limited, City of London Inv Trust, Custodian Reit , Picton Property Income Ltd

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Chicago PMI (US) (14:45)

Consumer Confidence (US) (15:00)

House Price Index (US) (14:00)

Import Price Index (GER) (07:00)

Unemployment Rate (GER) (08:55)

Q3

AB Ignitis Grupe GDR (Reg S)

FINALS

Contango Holdings , easyJet, Future, Gooch & Housego, Greencore Group (CDI), Marston's, Topps Tiles, Treatt

SPECIAL DIVIDEND PAYMENT DATE

Crown Place VCT

AGMS

Advance Energy NPV, Alternative Income Reit , Castillo Copper Limited NPV (DI), Dish TV India Limited GDR (Each Repr One Shr), Europa Metals Ltd NPV (DI), Nanoco Group

TRADING ANNOUNCEMENTS

DP Eurasia N.V. (DI)

UK ECONOMIC ANNOUNCEMENTS

M4 Money Supply (09:30)

Nationwide House Price Index (07:00)

FINAL DIVIDEND PAYMENT DATE

Coral Products, Diverse Income Trust (The), Fonix Mobile , K3 Capital Group , New Star Investment Trust, PZ Cussons

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