Wednesday preview: UK CPI, Marks & Spencer in the spotlight
Marks & Spencer Group
Investors' focus in the middle of the week would be on a reading for consumer prices in the UK in April.
At 0700 BST, the Office for National Statistics was expected to report that the annual rate of increase in headline CPI slowed from 10.1% in April to 8.2% for May.
Also due out, at 0930 BST, was an estimate of house prices from ONS covering the month of March.
In the afternoon, at 1900 BST, the US central bank was to release the minutes from its last policy meeting.
Given the current range of opinions among policymakers, investors were likely to be looking for further clues into their thinking.
Across the Channel meanwhile, at 0900 BST the IFO institute would publish its closely followed survey of business confidence in Germany referencing the month of May.
In Asia, overnight rate-setters in New Zealand were expected to announce a 25 basis point hike in the country's official cash rate to 5.50%.
On the corporate side of things, all eyes would be on Marks & Spencer as it posted its full-year numbers.
At the start of the year, the retailer's management guided towards annual revenues of £11.78bn, against £10.9bn during the previous year.
Profits on the other hand were expected to come in below the prior year's level due to increased costs.
Worth noting, the fashion and food retailer reported a strong third quarter performance with both segments posting an increase in market share.
That strength may have led management to retain its full-year guidance, given the possibility that the last three months of the financial year might see some payback, said Michael Hewson, chief market analyst at CMC Markets UK.
As an aside, Hewson noted that the shares appeared to be on course to recover half of the drop seen since their peak in 2022.
Wednesday 24 May
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JPMorgan Asia Growth & Income
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Crude Oil Inventories (US) (15:30)
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4Imprint Group, Arbuthnot Banking Group, Bango, Coca-Cola Europacific Partners (DI), Deltic Energy , Distribution Finance Capital Holdings, Ebiquity, Empiric Student Property , Horizonte Minerals, Intertek Group, Ithaca Energy, Kelso Group Holdings, Lookers, M&G, Mercantile Investment Trust (The), Microlise Group, Mortgage Advice Bureau (Holdings) , National World , Ondine Biomedical Inc. NPV (CDI), Petershill Partners , Playtech, RHI Magnesita N.V. (DI), The Artisanal Spirits Company, Tullow Oil, US Solar Fund, US Solar Fund, Zotefoams
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