Thursday preview: Coronavirus response, Aviva in focus

The focus on Thursday will be on governments' responses to the coronavirus outbreak, with the US Congress having announced an emergency spending bill worth $8bn for coronavirus prevention and authorities in both the UK and euro area both hinting heavily at measures to reduce corporate credit risk.

In particular, officials appeared to want to forestall the risk of a spike in non-performing loans, especially among highly-leveraged and cash flow-light corporates, should the virus' impact last for three months, which could see firms forced into layoffs and pausing or slowing investments.

The economic agenda was otherwise quite sparse, with weekly jobless claims figures in the US and Greek unemployment data expected to be the main releases.

On the corporate side of the equation on the other hand, a raft of corporate updates were scheduled in the UK.

For Aviva's full-year numbers, UBS analyst Colm Kelly is anticipating a 3% rise in full-year profits to reach £3.1bn with the insurer's pre-dividend Solvency II ratio expected to improve by five percentage points to hit 201% and the 2019 dividend payout seen 5% higher to 31.5p per share.

On an IFRS basis meanwhile, and on a per share basis, operating earnings were pegged to come in at 57.8p (consensus: 58.3p) on the back of topline growth at the Life division of 1% year-on-year to hit £3,001m (consensusÑ £2,923m), while Non-life sales were seen down 3% to £600m, in asset management 21% lower to £115m and in corporate/other a decrease of 16% to £617m was expected.

After adjusting for the final dividend, Kelly was expecting a Solvency II ratio of 195%.

Thursday 05 March

INTERIMS

Kier Group, Origin Enterprises

INTERIM EX-DIVIDEND DATE

Alumasc Group, Ashmore Group, BHP Group, City of London Investment Group, Dechra Pharmaceuticals, Draper Esprit VCT, Evraz, Genus, Grit Real Estate Income Group Limited NPV (DI), Hays, Hotel Chocolat Group , Ince Group (The), Joules Group, Jupiter Green Inv Trust, MJ Gleeson , National Westminster 9%pf, Oxford Instruments, Redrow, Renishaw, South32 Limited (DI) , Springfield Properties , Wilmington

QUARTERLY EX-DIVIDEND DATE

Aberdeen Diversified Income and Growth Trust , Diversified Gas & Oil, HICL Infrastructure , Kosmos Energy (DI), Raven Property Group 6.5% Red Cnv Pref Shs NPV, Real Estate Credit Investments Ltd, Regional REIT Limited, RM Secured Direct Lending, SQN Asset Finance Income Fund Limited, SQN Asset Finance Income Fund Limited 'C Shares', SQN Secured Income Fund , Tritax Eurobox (EUR), Tritax Eurobox (GBP), UIL Limited (DI)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Continuing Claims (US) (13:30)

Factory Orders (US) (15:00)

Initial Jobless Claims (US) (13:30)

Q4

Schroders

FINALS

Admiral Group, Aviva, CLS Holdings, Dairy Farm International Holdings Ltd. (Singapore), Domino's Pizza Group, Franchise Brands, Gresham House, GVC Holdings, Headlam Group, Hongkong Land Holding Ltd. (Sing.Reg), IndigoVision Group, Intu Properties, ITV, Jardine Matheson Holdings Ltd (Singapore Reg), Mandarin Oriental International (Singapore), Melrose Industries, Pagegroup, Premier Oil, Schroders, Spire Healthcare Group, Spirent Communications, Tyman

ANNUAL REPORT

Intu Properties

SPECIAL DIVIDEND PAYMENT DATE

Polymetal International

SPECIAL EX-DIVIDEND DATE

Persimmon, RM Secured Direct Lending, South32 Limited (DI) , Urban Logistics Reit

AGMS

Jersey Electricity 'A' Shares, Shoe Zone

FINAL EX-DIVIDEND DATE

Aviva 8 3/8% Cumulative Irrd Preference 1, BB Healthcare Trust (Red), CareTech Holding, General Accident (Prf), Grafton Group Units, McCarthy & Stone, Morgan Advance Materials 5% Cumulative 2nd Preference 1, Morgan Advance Materials 5.5% Cumulative 1st preference 1, Northern Electricity Prf, Puma VCT 12 , Rio Tinto, RSA Ins 7 3/8%pf, RSA Insurance Group, Safestore Holdings, SSP Group , St. Modwen Properties, Standard Chartered