Thursday preview: BoE and ECB in focus
The Bank of England's monetary policy announcement was expected to be in the spotlight on Thursday.
Oil & Gas Producers
A further 50 basis point hike in Bank Rate to 4.0% as widely expected.
However, economists at Barclays Research were expecting Bank to announce a downshift in the pace of tightening to 25bp at future meetings.
Barclays was expecting two further 25bp hikes after Thursday in March and May.
In particular, expectations were that the Monetary Policy Committee would eliminate the reference to "forceful" from its guidance.
The European Central Bank's governing council was also due to meet to decide on interest rates.
Given that a 50bp hike to 3.0% was already entirely priced into financial markets, the key point of interest would be what President Christine Lagarde had to say regarding the pace of future rate hikes.
Analysts were also waiting on the first details of its anticipated programme of quantitative tightening.
The economic calendar would be lighter in the US on Thursday, although investors were likely to be keeping close tabs on the latest weekly jobless claims figures.
Also due out alongside was labour productivity and unit labor cost data for the fourth quarter.
Not to lose sight of, the US Department of Labor was scheduled to publish its all-important monthly non-farm payrolls report the next day.
For that reason, the reaction in financial markets to the BoE and ECB policy announcements might be a bit restrained.
Shell would be the centre of attention on the corporate side of things.
The oil major has previously pointed out that its fourth quarter numbers would be impacted to the tune of about $2bn by the multiple windfall taxes on either side of the Channel, Michael Hewson, chief market analyst at CMC Markets UK pointed out.
On the flip-side, it had also guided towards a "significantly better" performance in gas trading than in the third quarter, Hewson said.
But Hewson also noted how the outfit's spending thus far on renewables had been "tiny", adding that Shell's new boss needed to extol the importance of natural gas in the world's energy transition towards greener fuels.
Thursday 02 February
INTERIM DIVIDEND PAYMENT DATE
XPS Pensions Group
INTERIM EX-DIVIDEND DATE
Atrato Onsite Energy, DWF Group , IG Group Holdings, Marwyn Value Investors Limited, Totally
QUARTERLY PAYMENT DATE
British American Tobacco
QUARTERLY EX-DIVIDEND DATE
Greencoat Renewables (CDI)
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Trade (GER) (07:00)
Continuing Claims (US) (13:30)
Factory Orders (US) (15:00)
Gross Domestic Product (EU) (10:00)
Initial Jobless Claims (US) (13:30)
PMI Retail (GER) (07:00)
Airtel Africa , BT Group, Shell
OMV Petrom S.A. GDR (REG S)
OMV Petrom S.A. GDR (REG S), Shell
SPECIAL EX-DIVIDEND DATE
Hollywood Bowl Group, ICG-Longbow Senior Secured UK Property Debt Investments Ltd
Abrdn Equity Income Trust, Agronomics Limited, Alteration Earth, Baillie Gifford European Growth Trust , Hargreave Hale AIM VCT , Hargreave Hale AIM VCT , JPMorgan Indian Investment Trust, Sage Group, Schroder European Real Estate Investment Trust
FINAL EX-DIVIDEND DATE
Baronsmead Second Venture Trust, Baronsmead Venture Trust, Hollywood Bowl Group, Paragon Banking Group, Ramsdens Holdings , Treatt, Watkin Jones