Register for Digital Look

Thursday preview: Philly Fed survey, Easyjet in the spotlight

By Alexander Bueso

Date: Wednesday 18 May 2022

Thursday preview: Philly Fed survey, Easyjet in the spotlight

(Sharecast News) - Another batch of US economic data on Thursday may help to further shape the ongoing debate around recession risks in the US towards the end of 2022.
Although that is not yet the majority view on the Street, multiple observers have come out in recent days and said the risk is now "high".

Against that backdrop, at 1330 GMT, the Federal Reserve Bank of Philadelphia will release the results of its survey into manufacturing sector conditions during the month of May in the US mid-Atlantic region.

Also due out are readings for weekly unemployment claims, April existing home sales and consumer confidence.

On home shores, at 1100 GMT the Confederation of British Industry will publish the results of its Industrial Trends survey for May.

In the euro area meanwhile, investors will be waiting for readings on the euro area current account surplus and construction sector output, both for the month of March, at 1000 GMT.

On the corporate side of things, Easyjet's first half results will provide insights into the recovery of Europe's airlines.

The number of Easyjet flights increased to 80% of their 2019 levels in March with the carrier's load factor having recovered to 81%.

However, management has guided towards a pre-tax loss of between £535m and £565m for the half, with revenues reaching £1.5bn but costs running at just over £2.0bn.

It was also expecting capacity to reach 90% of its 2019 levels during the third quarter with capacity on sale remaining near the same level for the comparable 2019 quarter, said Michael Hewson, chief market analyst at CMC Markets UK.

Easyjet has also taken steps to free up cash and most importantly to be able to fly with fewer cabin crew in order to reduce the risk of cancellations while it ramps up hiring of new staff.

Thursday 19 May

INTERIMS

Auction Technology Group , Euromoney Institutional Investor

INTERIM EX-DIVIDEND DATE

Bellway, BlackRock Greater Europe Inv Trust, Numis Corporation, Town Centre Securities, Virgin Money UK

QUARTERLY PAYMENT DATE

M Winkworth

QUARTERLY EX-DIVIDEND DATE

BlackRock Sustainable American Income Trust, GlaxoSmithKline, NextEnergy Solar Fund Limited Red, Pershing Square Holdings Ltd NPV, Pershing Square Holdings Ltd NPV (USD), Unilever, Wheaton Precious Metals Corp.NPV (CDI)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Continuing Claims (US) (13:30)

Current Account (EU) (09:00)

Existing Home Sales (US) (15:00)

Initial Jobless Claims (US) (13:30)

Philadelphia Fed Index (US) (13:30)

FINALS

Inspects Group , Investec, National Grid, QinetiQ Group, Royal Mail

SPECIAL DIVIDEND PAYMENT DATE

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

SPECIAL EX-DIVIDEND DATE

Taylor Maritime Investments Limited NPV, Taylor Maritime Investments Limited NPV

EGMS

EFG-Hermes Holding SAE GDR (Reg S)

AGMS

Bigblu Broadband , BlackRock Latin American Inv Trust, Capital & Regional, Computacenter, Dialight, Drumz , Ebiquity, Eqtec (CDI), Essentra, Fevertree Drinks, Genuit Group, Headlam Group, Inchcape, IRISH RESIDENTIAL PROPERTIES REIT P IRISH RESIDENTIAL PROPERTIES ORD SHS, IRISH RESIDENTIAL PROPERTIES REIT P IRISH RESIDENTIAL PROPERTIES ORD SHS, K3 Business Technology Group, Light Science Technologies Holdings, Mobius Investment Trust , MusicMagpie, Network International Holdings, Network International Holdings, Next, Pharos Energy , Portmeirion Group, Property Franchise Group, Rotala, Smart Metering Systems, St James's Place, Tyman

TRADING ANNOUNCEMENTS

Watches of Switzerland Group

FINAL DIVIDEND PAYMENT DATE

Aviva, BlackRock World Mining Trust, Convatec Group , FBD Holdings (CDI), Gresham Technologies, Lloyds Banking Group, Secure Trust Bank

FINAL EX-DIVIDEND DATE

Anexo Group , Anglo Pacific Group, Bunzl, Centamin (DI), FDM Group (Holdings), Gem Diamonds Ltd. (DI), Kingfisher, Lookers, Ocean Wilsons Holdings Ltd., Pagegroup, Public Policy Holding Company, Inc. (DI) (REG S, CAT3), Sampo OYJ, Science Group , Spectris, Tesco, Vector Capital, Weiss Korea Opportunity Fund Ltd, Xpediator

Q1

AB Ignitis Grupe GDR (Reg S)



..

Email this article to a friend

or share it with one of these popular networks:


Top of Page