The minutes from the May meeting of the Bank of England's Monetary Policy Committee are scheduled for release on Wednesday at 09:30, and will get the usual rigorous going-over from the rune readers.
The Bank of England toned down its economic growth projections for the UK economy in its May inflation report which has opened the door a bit wider for a resumption of the asset purchase programme (quantitative easing, or QE).
"The outlook for growth presented in today's Report is weaker than in February, and the outlook for inflation is higher in the near term," Bank of England governor Mervyn King said, in the opening remarks section of the quarterly inflation report.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Barclays Capital thinks the vote on quantitative easing will once again be eight to one in favour of the status quo. If the vote for keeping interest rates unchanged is anything other than unanimous, expect the reason to be a printing error.
UK Retail Sales figures are also out, with the market expecting the headline figure for April to be down 0.8% from March, with core retail sales tipped to be down 0.7%.
The industrial trends survey from the Confederation of British Industry (CBI) for May is expected to see the Total Orders reading deteriorating in May to -11 from -8 in April.
On the corporate front, bus and train group FirstGroup is expected to report that things are a bit tougher in the home market than they are the other side of the pond, where the group runs a number of student bus routes in addition to the world-famous Greyhound bus network.
"FirstGroup is expected to deliver on its targets for FY [fiscal year] 2012 but its March trading update warned of more problems in FY13 and the share price dived after its publication," notes Charles Stanley analyst, Tony Shepard.
He is going for profit before tax of £268m, down from £275m the year before, and earnings per share of 39.0p versus 41.2p the previous year. Shepard thinks the divi will be revved up to 23.7p from 22.1p.
Market consensus is for revenue of £6.5bn, up from £6.4bn the year before.
Telecom Plus, the utility provider which trades as Utility Warehouse, pledged back at the end of March to hit upgraded expectations, which are for full year revenue of £483.9m, profit before tax of £30.43m, earnings per share of 33.05p and a dividend of 27p.
Customers chasing the latest offers and switching suppliers - known as "churn" in the industry - is a concern, but Northland Capital Partners that the company's "multi-service offering should help Telecom Plus's own churn."
INTERIMS
Innovation Group, Shaftesbury
INTERIM DIVIDEND PAYMENT DATE
Wetherspoon (J.D.)
INTERIM EX-DIVIDEND DATE
Bellway, Blackrock Frontiers Investment Trust, Diploma, Euromoney Institutional Investor, GCP Infrastructure Investments Ltd., Narborough Plantations, Titon Holdings
QUARTERLY EX-DIVIDEND DATE
Carnival
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Crude Oil Inventories (US) (15:30)
Current Account (EU) (09:00)
House Price Index (US) (15:00)
Industrial New Orders (EU) (10:00)
MBA Mortgage Applications (US) (12:00)
New Homes Sales (US) (15:00)
Q4
Canaccord Financial Inc.
FINALS
Burberry Group, Canaccord Financial Inc., Great Portland Estates, HICL Infrastructure Company Ltd, Hogg Robinson Group, Reach4Entertainment Enterprises
ANNUAL REPORT
3i Group, Alexander Mining
AGMS
Alliance Pharma, Aurelian Oil & Gas, CSR, EKF Diagnostics Holdings , F&C Private Equity Trust, Foresight VCT, Healthcare Locums, Henderson Global Trust, Hochschild Mining, Immupharma, London Mining, Mercantile Investment Trust (The), Ocado Group, Optimal Pay
UK ECONOMIC ANNOUNCEMENTS
BoE Interest Rate Minutes (09:30)
CBI Industrial Trends Surveys (11:00)
Internet Retail Sales (09:30)
Retail Sales (09:30)
FINAL DIVIDEND PAYMENT DATE
Burford Capital Ltd., Fresnillo, Legal & General Group, Portmeirion Group, StatPro Group, Xstrata, Zotefoams
FINAL EX-DIVIDEND DATE
Argo Group Ltd., Belgravium Technologies, C&C Group, Cayenne Trust, Chime Communications, Clarkson, DCC, Dignity, Elderstreet VCT, Fairpoint Group, Fortune Oil, Gresham House, Howden Joinery Group, International Power, Lamprell, Maven Income & Growth 2 VCT, Menzies(John), Morgan Crucible Co, Premier Farnell, Proven Planned Exit VCT, Robert Walters, Severfield-Rowen, Share Plc, SQS Software Quality Systems AG, Stobart Group Ltd., TT Electronics, UTV Media, Witan Pacific Inv Trust
Q1
OJSC Cherkizovo Group GDR (Reg S)
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
