Thursday preview: Philly Fed index, BT Group in the spotlight

15th May 2024 12:14

(Sharecast News) - Investors' focus on Thursday will be on a raft of economic reports due out in the States.

Key amongst those will be the latest weekly jobless claims data and the Philly Fed's regional manufacturing sector index for May.

Also due out are data covering housing starts import prices and industrial production all in the month of April.

As well, at least four top Federal Reserve officials are scheduled to take to the podium throughout the course of the afternoon.

No major economic data are due out across the Channel or in the UK.

Monetary Policy Committee member Megan Greene is due to deliver a speech at 0700 BST.

BT Group is among the corporate names due to update investors on Thursday.

In a research note sent to clients, UBS analyst Polo Tang said he wasn't anticipating any significant strategy changes from the company's new boss.

However, he did see a risk of a dividend cut.

Heightened broadband infrastructure competition meant that BT might lose more broadband lines at its Openreach unit than expected.

In turn, the resulting need to accelerate the rollout of fibre and the possibility of higher restructuring charges might weigh on its free cash flow and its dividend payout.

The Visible Alpha consensus was that Openreach would lose 115,000 lines in the fourth quarter and 489,000 broadband lines in fiscal year 2024.

Thursday 16 May

FINALS

Premier Foods, BT Group, United Utilities Group

INTERIMS

Auction Technology Group, Sage Group, Future, Grainger, Nexus Infrastructure, easyJet, Tritax Eurobox (GBP)

Q1

HELIOS TOWERS, Bank of Cyprus Holdings Public Limited Company (CDI)

TRADING ANNOUNCEMENTS

Convatec Group, Vistry Group

FINAL EX-DIVIDEND DATE

Vector Capital, Kingfisher, Churchill China, Irish Continental Group Units (Comp) (CDI), RHI Magnesita N.V. (DI), Tesco, Tclarke, Essentra, Property Franchise Group, Balfour Beatty, Bunzl, Manx Financial Group, FEVERTREE DRINKS, Spectris, Ocean Wilsons Holdings Ltd., Pagegroup

FINAL DIVIDEND PAYMENT DATE

Morgan Sindall Group, Haleon

INTERIM EX-DIVIDEND DATE

Witan Inv Trust, Abrdn Property Income Trust Limited, Target Healthcare Reit Ltd, Alternative Income Reit, Greencoat UK Wind, Shell, Jarvis Securities, James Halstead, Aquila European Renewables (GBP), Henderson Opportunities Trust, Princess Private Equity Holding Ltd. (EUR), TwentyFour Select Monthly Income Fund Limited, Aquila European Renewables, Majedie Investments, Income & Growth VCT, EJF Investments Ltd NPV, Murray Income Trust, FRP Advisory Group

SPECIAL EX-DIVIDEND DATE

Amati AIM Vct

INTERIM DIVIDEND PAYMENT DATE

Prudential

QUARTERLY EX-DIVIDEND DATE

GSK, The Renewables Infrastructure Group Limited, Pershing Square Holdings Ltd NPV (USD), Unilever, Vaalco Energy, Inc (DI), Octopus Renewables Infrastructure Trust, BP, Pershing Square Holdings Ltd NPV

QUARTERLY PAYMENT DATE

Mercantile Investment Trust (The), BlackRock Latin American Inv Trust, M Winkworth, Supermarket Income Reit

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Building Permits (US) (13:30)

Initial Jobless Claims (US) (13:30)

Import and Export Price Indices (US) (13:30)

Housing Starts (US) (13:30)

Continuing Claims (US) (13:30)

Philadelphia Fed Index (US) (13:30)

Industrial Production (US) (14:15)

Capacity Utilisation (US) (14:15)