Tuesday preview: Investors await IHG update, central banker comments

21st Oct 2024 07:12

(Sharecast News) - A third-quarter trading update from InterContinental Hotels Group will take centre stage on Tuesday, with the corporate earnings and economic data calendars relatively quiet.

The markets have not heard from IHG since 6 August, but the share price has surged 17% since, so expectations are likely to be high going into Tuesday's announcement. The stock has gained around 50% over the past 12 months.

In the first half, revenues rose by 4% to $2.32bn, with revenue per available room (RevPAR) rising 3.0%.

Analysts at UBS expect IHG to report that RevPAR growth slowed slightly to 2.7% in the third quarter ended 30 September, down from 3.2% in the second, though consensus forecasts have pencilled in just 2.1% growth.

Unsurprisingly, UBS predicts that conditions in China will have worsened, with RevPAR falling 9%, after dropping 7% in the second quarter. RevPAR growth in the Americas is also expected to have slowed to 2.25% from 3.3%, but EMEA RevPAR growth should have held relatively stable 6%, down from 6.3% in the second quarter, UBS said.

Also on Tuesday, investors will also be keeping a close eye on the International Monetary Fund and World Bank's annual meetings in Washington D.C, where the heads of the Bank of England and European Central Bank are due to speak.

While both are unlikely to reveal anything new, outlook statements regarding inflation and economic growth will be watched closely for indications about how monetary policy may pan out before the end of the year.

Tuesday 22 October

INTERIM DIVIDEND PAYMENT DATE

Central Asia Metals

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Existing Home Sales (US) (15:00)

GMS

Atrato Onsite Energy

FINALS

Aptamer Group, Nanoco Group, The Revel Collective, Virgin Wines UK

ANNUAL REPORT

Petra Diamonds Ltd.(DI), Virgin Wines UK

SPECIAL DIVIDEND PAYMENT DATE

SLF Realisation Fund Limited C Shs NPV, SLF Realisation Fund Limited NPV

AGMS

Hargreaves Lansdown, Newmark Security PLC

TRADING ANNOUNCEMENTS

Gear4music (Holdings), InterContinental Hotels Group, Sosandar, System1 Group

UK ECONOMIC ANNOUNCEMENTS

Public Sector Net Borrowing (07:00)

Q1

Petra Diamonds Ltd.(DI)