Wednesday looks set to be a busy day on both the corporate and economic calendar. However, while there's a long list of UK blue-chip companies scheduled to report earnings, the focus will undoubtedly be on the US with economic growth data and a policy rate decision expected in the afternoon.
The world's biggest economy is expected to have grown at an annualised rate of 1.1% in the fourth quarter of 2012, according to preliminary estimates due for release at 13:30 (London time), well below the 3.1% growth in the third quarter.
Meanwhile, the Federal Open Market Committee (FOMC) will reveal its policy decision at 19:15 after a two-day meeting in Washington. While markets will keep a close eye on the announcement, analysts have labelled this as the most anticipated "non-event" of the week.
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"We think this Fed meeting is a complete non-event," said the experts at Jefferies. While the economy continues to slug along, the improvements seen in recent data are said to be insufficient to force the Fed to move its hand.
As such, the central bank is expected to continue with its stimulus measures but everyone will be looking out for comments on when the current third round of quantitative easing (QE) will end. Most expect the Fed to continue through with QE3 until the end of the year, if not early 2014.
In other economic news on Wednesday, there will be the latest US ADP employment figures, US personal consumption data, as well as Eurozone consumer confidence and UK mortgage approval numbers.
Blue chip stocks to report in LondonAs for the corporate side of things, mining peers Antofagasta and Polymetal are to release their fourth-quarter production reports.
Imperial Tobacco is to update the market on trading in the first quarter with the group expected to report a 3-4% increase in organic sales, according to estimates from Credit Suisse.
In a research report earlier this month, the Swiss broker said that Imperial's tobacco portfolio "looks well-placed in the EU and its strategic brands are making good inroads in non-EU markets".
Meanwhile, water group United Utilities will publish a third-quarter trading statement, in which Seymour Pierce said it expects no real surprises.
The broker said that it anticipates that the company will reiterate comments made at the time of the interim results (November 28th 2012) but will give guidance on net finance expense (SP estimate: £355m, £12m lower year-on-year) and year-end net debt (SP estimate: £5.35bn, up from £5.32bn at the end of the half).
FINALS
Safestore Holdings
INTERIMS
Renishaw
IMSs
United Utilities Group
AGMS
Finsbury Growth & Income Trust
Imperial Tobacco Group
Karelian Diamond Resources
Polo Resources Ltd. (DI)
Renew Holdings
Ultrasis
EGMs
Avengardco Investments Public Ltd GDR
Qannas Investments Ltd
FINAL EX-DIVIDEND DATE
Andor Technology
Blackrock Frontiers Investment Trust
Fenner
Renew Holdings
Treatt
FINAL DIVIDEND PAYMENT DATE
Albemarle & Bond Holdings
Qatar Investment Fund
Schroder Asia Pacific Fund
Schroder UK Mid Cap Fund
INTERIM EX-DIVIDEND DATE
CPL Resources
Latchways
NB Private Equity Partners Ltd.
Pennon Group
INTERIM DIVIDEND PAYMENT DATE
Monks Inv Trust
NewRiver Retail Ltd. (Reg S)
SPECIAL EX-DIVIDEND PAYMENT DATE
Carpathian
QUARTERLY EX-DIVIDEND DATE
Merchants Trust
UK ECONOMIC ANNOUNCEMENTS
Consumer Credit (09:30)
M4 Money Supply (09:30)
M4 Sterling Lending (09:30)
Mortgage Approvals (09:30)
Trends in Lending (09:30)
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
PMI Retail (GER) (08:55)
PMI Retail (EU) (09:00)
Business Climate Indicator (EU) (10:00)
Economic Sentiment Indicator (EU) (10:00)
MBA Mortgage Applications (US) (12:00)
GDP (Advance) (US) (13:30)
Crude Oil Inventories (US) (15:30)
FOMC Interest Rate (US) (17:15)
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