Week ahead: Autumn Budget, Corporate earnings in focus
The focus in financial markets over the coming week will be on the Autumn Budget on Wednesday, with the Chancellor facing a tricky balancing act given already high deficits, rising inflation and the end of the furlough scheme.
Investors will also be trying to keep up with a deluge of corporate earnings on either side of the Pond.
According to JP Morgan, almost half of US companies and just over a third of European ones are due to update investors this coming week.
At present, expectations for companies' earnings growth are running at 40% and 22% year-on-year for the US and euro area, respectively.
On home shores HSBC, Lloyds Banking Group and Natwest Group are due to publish results, while in the US, Facebook, Microsoft, Amazon, Apple and Alphabet will all do the same.
Policy rate decisions are also due from the European Central Bank and Bank of Japan, both on Thursday.
Rate-setters in Frankfurt and Tokyo are both expected to stand pat on policy.
In the case of the ECB, economists at Barclays Research expect that the governing council will continue to favour extended monetary accommodation, "with policy rates at current levels for longer than currently priced and a large and flexible QE programme in 2022."
Readings on third quarter gross domestic product in the US and euro area will also garner a lot of attention.
Those reports are due out on Thursday and Friday, respectively.
US economic activity is expected to have slowed from a quarterly annualised pace of 6.7% over the three months to June to 2.5%.
In the eurozone on the other hand, GDP growth is projected at up by 2.1% quarter-on-quarter, the same pace as over the preceding three months.
Readings on consumer prices in France, Italy and Spain towards the end of the week may also move markets.
Monday 25 October
INTERIMS
DP Poland
INTERIM DIVIDEND PAYMENT DATE
AVI Japan Opportunity Trust , Midwich Group
QUARTERLY PAYMENT DATE
General Electric Co (CDI)
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
IFO Business Climate (GER) (09:00)
IFO Current Assessment (GER) (09:00)
IFO Expectations (GER) (09:00)
Q3
HSBC Holdings
FINALS
Sareum Holdings
AGMS
Bezant Resources, Challenger Energy Group, Galileo Resources, Xtract Resources
TRADING ANNOUNCEMENTS
Lenta International Public Joint-Stock Company GDR (144A)
Tuesday 26 October
INTERIMS
e-Therapeutics
INTERIM DIVIDEND PAYMENT DATE
Morgan Sindall Group
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Confidence (US) (15:00)
House Price Index (US) (14:00)
New Homes Sales (US) (15:00)
Q3
Reckitt Benckiser Group
TRADING ANNOUNCEMENTS
RWS Holdings
Wednesday 27 October
INTERIMS
Bloomsbury Publishing
INTERIM DIVIDEND PAYMENT DATE
Driver Group, Smith & Nephew
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Crude Oil Inventories (US) (15:30)
Durable Goods Orders (US) (13:30)
GFK Consumer Confidence (GER) (07:00)
M3 Money Supply (EU) (09:00)
MBA Mortgage Applications (US) (12:00)
Q3
GlaxoSmithKline
GMS
Puma Vct 11
AGMS
CAP-XX Limited, Frontier Developments, Hargreaves Services, Ideagen, Invinity Energy Systems , JPMorgan Global Growth & Income, Mirada, Pantheon International , Springfield Properties
TRADING ANNOUNCEMENTS
Contour Global
UK ECONOMIC ANNOUNCEMENTS
BRC Shop Price Index (00:01)
Thursday October 28
INTERIMS
Airtel Africa , Bytes Technology Group , C&C Group (CDI), HarbourVest Global Private Equity Limited A Shs
INTERIM DIVIDEND PAYMENT DATE
Mears Group
INTERIM EX-DIVIDEND DATE
Fidelity Asian Values, Hammerson, Headlam Group, London Security, Morgan Advanced Materials , Next Fifteen Communications, Pittards, Schroder BSC Social Impact Trust
QUARTERLY PAYMENT DATE
Aberdeen Diversified Income and Growth Trust , Law Debenture Corp.
QUARTERLY EX-DIVIDEND DATE
Brunner Inv Trust, City of London Inv Trust, JPMorgan Claverhouse Inv Trust, SME Credit Realisation Fund Limited NPV, Tufton Oceanic Assets Limited NPV
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Business Climate Indicator (EU) (11:00)
Consumer Confidence (EU) (11:00)
Continuing Claims (US) (13:30)
Durable Goods Orders (US) (13:30)
ECB Interest Rate (EU) (12:45)
Economic Sentiment Indicator (EU) (11:00)
Industrial Confidence (EU) (11:00)
Initial Jobless Claims (US) (13:30)
Pending Homes Sales (US) (15:00)
Services Sentiment (EU) (11:00)
Unemployment Rate (GER) (08:55)
Q3
Helios Towers , Helios Towers , Indivior, Mail.ru Group Ltd GDR (Reg S), Nokia OYJ, Nokia OYJ, Royal Dutch Shell 'A', Royal Dutch Shell 'B', Samsung Electronics Co Ltd (ATT) GDR (Reg S), Totally
GMS
Cairn Energy
ANNUAL REPORT
Pan African Resources, Virgin Wines UK
IMSS
Lloyds Banking Group
SPECIAL EX-DIVIDEND DATE
Bioventix, Life Settlement Assets
AGMS
Brooks Macdonald Group, Filtronic, Highbridge Tactical Credit Fund Limited NVP GBP , Oil & Gas Development Company Ltd GDR (Reg S), Rosslyn Data Technologies, South32 Limited (DI) , Tirupati Graphite
TRADING ANNOUNCEMENTS
Gem Diamonds Ltd. (DI), Hunting, Inchcape, PPHE Hotel Group Ltd
FINAL EX-DIVIDEND DATE
Avingtrans, Dechra Pharmaceuticals, Dunelm Group, Ferguson, JPMorgan UK Smaller Companies Investment Trust, MJ Gleeson , Renishaw, Sylvania Platinum Ltd (DI), Thorpe (F.W.)
Friday 29 October
INTERIM DIVIDEND PAYMENT DATE
Barr (A.G.), Belvoir Group, Christie Group, Essentra, Fidelity European Trust, Hunting, I3 Energy , Ingenta, JTC, Keywords Studios, Learning Technologies Group , Mortgage Advice Bureau (Holdings) , Phoenix Spree Deutschland Limited Shs NPV , Rightmove, Shanta Gold Ltd., Unite Group, Vitec Group, Wynnstay Group, Xpediator
INTERIM EX-DIVIDEND DATE
Banco Santander S.A.
QUARTERLY PAYMENT DATE
BMO Commercial Property Trust Limited, BMO Private Equity Trust, Marble Point Loan Financing Limited NPV, Middlefield Canadian Income PCC, Real Estate Investors, Standard Life Private Equity Trust, Value and Indexed Property Income Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Chicago PMI (US) (14:45)
GDP (Preliminary) (EU) (11:00)
GDP (Preliminary) (GER) (07:00)
Personal Consumption Expenditures (US) (13:30)
Personal Income (US) (13:30)
Personal Spending (US) (13:30)
U. of Michigan Confidence (US) (15:00)
Q3
NATWEST GROUP PLC ORD 100P, OMV Petrom S.A. GDR (REG S)
FINALS
Grit Real Estate Income Group Limited NPV, Scancell Holdings, Time Out Group
SPECIAL DIVIDEND PAYMENT DATE
Barr (A.G.), Hargreave Hale AIM VCT , Kings Arms Yard VCT
AGMS
ADM Energy , ITM Power, Mattioli Woods, Maxcyte (DI), OPG Power Ventures, Sensyne Health
UK ECONOMIC ANNOUNCEMENTS
Consumer Credit (09:30)
M4 Money Supply (09:30)
Mortgage Approvals (09:30)
FINAL DIVIDEND PAYMENT DATE
Alumasc Group, City of London Investment Group, FRP Advisory Group , Gabelli Merger Plus+ Trust, Hargreaves Services, Standard Life UK Smaller Companies Trust