Thursday preview: US Q1 GDP, Auto Trader in focus
By Alexander Bueso
Date: Thursday 26 May 2022
(Sharecast News) - All eyes on Thursday will be on a batch of fresh economic data due out in the States, including a revised reading on first quarter gross domestic product.
The US Department of Commerce is expected to say that GDP shrank at a quarterly annualised pace of 1.3% over the three months ending in March.
Also due out are the latest figures for initial weekly unemployment claims and pending home sales data for April; both of those reports will help provide more clues as to the state of the jobs and housing markets.
Across the Channel meanwhile, readings for business and consumer confidence in Italy during the month of May are scheduled for release at 0900 GMT.
On home shores, the only fresh data due out are those on car and engine manufacturing in April.
Further afield, in South Korea, rate-setters will meet overnight to decide on interest rates.
Consensus was for a 25bp interest rate hike in the seven-day repo rate to 1.75%.
On the corporate side of things and going into Auto Traders' full year results, UBS analyst Adam Berlin, noted several key recent trends for the automobile classified advertising company.
Among those were a stabilisation in inventory levels, "robust" demand and stable web traffic to Auto Trader in March.
On the flip-side, median used car prices were also normalising after the peak reached in January, although they remained 40% higher year-on-year and "significantly" above their 2019 levels.
Berlin also noted emerging competition from Cazoo and Cinch for consumers' eyeballs.
Friday 27 May
INTERIM DIVIDEND PAYMENT DATE
Atrato Onsite Energy
QUARTERLY PAYMENT DATE
Octopus Renewables Infrastructure Trust , Supermarket Income Reit
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
M3 Money Supply (EU) (09:00)
Personal Consumption Expenditures (US) (13:30)
Personal Income (US) (13:30)
Personal Spending (US) (13:30)
U. of Michigan Confidence (US) (15:00)
FINALS
Volvere, Volvere
AGMS
Barr (A.G.), Big Technologies, BMO Commercial Property Trust Limited, Coca-Cola Europacific Partners (DI), Deepmatter Group, Destiny Pharma , Hostmore , LSL Property Services, Old Mutual Limited NPV (DI), Oxford Biomedica, Spectris, The Renewables Infrastructure Group Limited, Triple Point Social Housing Reit, Triple Point Social Housing Reit
FINAL DIVIDEND PAYMENT DATE
Centaur Media, Clarkson, Dunedin Income Growth Inv Trust, Fevertree Drinks, Franchise Brands, Fresnillo, Gresham House, Harworth Group, Headlam Group, JPMorgan American Inv Trust, Mobius Investment Trust , Octopus AIM VCT 2, Property Franchise Group, Rightmove, Schroder Asian Total Return Investment Company , St James's Place, Stelrad Group , STV Group, Toyota Motor Corp., Tyman, Vesuvius
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