LONDON (ShareCast) - (Sharecast News) - All eyes will be on the European Central Bank on Thursday with investors expecting Christine Lagarde t0 push back on market pricing for tighter policy towards the end of 2022.






Consensus however appears to be that the ECB chief will continue to make the case for inflation being transitory and thus not requiring a policy response.

On that note, economists at Barclays Research told clients: "We think the ECB will continue to favour extended monetary accommodation, with policy rates at current levels for longer than currently priced and a large and flexible QE programme in 2022."

In the states meanwhile, the market spotlight will be on a preliminary reading for US gross domestic product in the third quarter.

Barclays is anticipating a slowdown in the quarterly annualised pace of growth from 6.7% to 2.5%.

Overnight, rate-setters in Tokyo will also meet to decide on monetary policy.

On home shores meanwhile, the sole data point due out are car and engine manufacturing figures for the month of September.



For Lloyds Banking Group's third quarter, UBS analyst Jason Napier said he was expecting a positive surprise on loan losses.

Whereas many of the investment bank's conversations with clients had revealed concerns around higher living costs in the UK resulting in lower growth and fewer hikes in Bank Rate than some were expecting, he believed that high rates of saving offered a buffer and that slower payroll growth was partly due to more "selective" workers.

He also expected net interest income to grow "well" thanks to "the net benefit to net interest income of steeper swap rates, prospective hedge growth, mortgage and unsecured volume growth and rate hikes."

"We expect a real focus on this at 3Q results," he added.

The analyst also said Lloyds shares were in a bit of a holding pattern awaiting confirmation of its group strategy and capital payout policy under its new boss, Charlie Nunn.

"Our work also suggests that there is less to fear from narrower mortgage spreads and strategic change than appears discounted in the price."

Thursday 28 October

INTERIMS

Airtel Africa , Bytes Technology Group , C&C Group (CDI), HarbourVest Global Private Equity Limited A Shs

INTERIM DIVIDEND PAYMENT DATE

Mears Group

INTERIM EX-DIVIDEND DATE

Fidelity Asian Values, Hammerson, Headlam Group, London Security, Morgan Advanced Materials , Next Fifteen Communications, Pittards, Schroder BSC Social Impact Trust

QUARTERLY PAYMENT DATE

Aberdeen Diversified Income and Growth Trust , Law Debenture Corp.

QUARTERLY EX-DIVIDEND DATE

Brunner Inv Trust, City of London Inv Trust, JPMorgan Claverhouse Inv Trust, SME Credit Realisation Fund Limited NPV, Tufton Oceanic Assets Limited NPV

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Business Climate Indicator (EU) (11:00)

Consumer Confidence (EU) (11:00)

Continuing Claims (US) (13:30)

Durable Goods Orders (US) (13:30)

ECB Interest Rate (EU) (12:45)

Economic Sentiment Indicator (EU) (11:00)

Industrial Confidence (EU) (11:00)

Initial Jobless Claims (US) (13:30)

Pending Homes Sales (US) (15:00)

Services Sentiment (EU) (11:00)

Unemployment Rate (GER) (08:55)

Q3

Helios Towers , Helios Towers , Indivior, Mail.ru Group Ltd GDR (Reg S), Nokia OYJ, Nokia OYJ, Royal Dutch Shell 'A', Royal Dutch Shell 'B', Samsung Electronics Co Ltd (ATT) GDR (Reg S), Totally

GMS

Cairn Energy

ANNUAL REPORT

Pan African Resources, Virgin Wines UK

IMSS

Lloyds Banking Group

SPECIAL EX-DIVIDEND DATE

Bioventix, Life Settlement Assets

AGMS

Brooks Macdonald Group, Filtronic, Highbridge Tactical Credit Fund Limited NVP GBP , Oil & Gas Development Company Ltd GDR (Reg S), Rosslyn Data Technologies, South32 Limited (DI) , Tirupati Graphite

TRADING ANNOUNCEMENTS

Gem Diamonds Ltd. (DI), Hunting, Inchcape, PPHE Hotel Group Ltd

FINAL EX-DIVIDEND DATE

Avingtrans, Dechra Pharmaceuticals, Dunelm Group, Ferguson, JPMorgan UK Smaller Companies Investment Trust, MJ Gleeson , Renishaw, Sylvania Platinum Ltd (DI), Thorpe (F.W.)

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