Thursday preview: Intel results, ECB policy announcement due
By Michele Maatouk
Date: Wednesday 22 Jul 2026
(Sharecast News) - Thursday will bring half-year results from Morgan Sindall and Jupiter Fund Management, among others, and the latest policy announcement from the European Central Bank.
Also on the UK corporate front, full-year results from The Works will be published, along with a Q1 update from 3i Group, a Q3 update from AJ Bell, Q1 results from Airtel Africa and BT Group and half-year results from Howden Joinery.
In the US, quarterly results will be released by Intel and Newmont.
The ECB is widely expected to leave the deposit rate unchanged at 2.25%.
TD Securities said: "The Governing Council enters this meeting in a more comfortable position than it did in June, but given ongoing energy shock uncertainty, the statement will likely reflect the continuation of a 'meeting-by-meeting' approach and Lagarde is unlikely to suggest a concrete next step for the rate path."
Rabobank said the collapse of the US-Iran ceasefire renders the ECB's milder scenario less likely, but energy prices have only risen back to levels that are broadly consistent with the ECB's baseline. It expects the ECB to leave the deposit rate unchanged and still forecasts one additional hike, but sees September as the more likely timing.
Meanwhile, Danske Bank said it expects ECB president Christine Lagarde "to keep full optionality on the future policy rate path, leaving the door open to a September hike, but without pre-committing".
"With markets currently pricing in 22bp worth of ECB hikes at the September meeting, and given the high uncertainty around the future path of energy prices, we do not believe the ECB has an incentive to rock the boat," it said.
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