Wednesday preview: UK Budget, Shell in focus
By Alexander Bueso
Date: Wednesday 30 Oct 2024
(Sharecast News) - All eyes on Wednesday will be on the UK budget announcement.
The Chancellor is expected to detail a series of tax hikes to raise approximately £35bn of new revenues.
But as MUFG points out in a research note sent to clients, Labour has already disclosed many of the expected tax increases, such that the broker expects Gilts and Sterling to be little moved by the announcements.
In the US meanwhile, at 1230 BST Commerce will release a preliminary reading for third quarter gross domestic product growth.
Fifteen minutes before, consultancy ADP will publish the results of its closely followed survey of private payrolls for November.
Across the Channel, the market spotlight will be on preliminary figures for German and Spanish consumer prices covering the month of November, as well as a first look at euro area third quarter GDP growth.
In the company space, Shell is to publish its third quarter results.
UBS analyst Joshua Stone is anticipating an 11% decline in the oil major's adjusted net income to reach $5.36bn.
Net cash flow from operations, excluding working capital requirements however, is seen 17% higher to $11.97bn and the company's dividend per share up by 3% to 0.34 US cents.
Total production is also seen rising by 3% to approximately 2.72m barrels of oil equivalent per day, together with a 9% jump in LNG liquefaction volumes to 7.4m metric tonnes.
Wednesday 30 October
INTERIM EX-DIVIDEND DATE
Banco Santander S.A.
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Business Climate Indicator (EU) (10:00)
Consumer Confidence (EU) (10:00)
Crude Oil Inventories (US) (14:30)
Economic Sentiment Indicator (EU) (10:00)
GDP (Preliminary) (EU) (09:00)
GDP (Preliminary) (GER) (07:00)
GDP (Preliminary) (US) (12:30)
Industrial Confidence (EU) (10:00)
MBA Mortgage Applications (US) (11:00)
Pending Homes Sales (US) (14:00)
Services Sentiment (EU) (10:00)
Q3
Smurfit Westrock (DI), Standard Chartered
GMS
Air China Ltd.
FINALS
Grit Real Estate Income Group Limited NPV
SPECIAL DIVIDEND PAYMENT DATE
FIH Group
AGMS
BHP Group Limited NPV (DI), Frontier Developments, Hargreaves Services, Moh Nippon, Springfield Properties
TRADING ANNOUNCEMENTS
Next, Smurfit Westrock (DI)
UK ECONOMIC ANNOUNCEMENTS
BRC Shop Price Index (00:01)
FINAL DIVIDEND PAYMENT DATE
FIH Group
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN