Thursday preview: Fedspeak, ECB, Reckitt Benckiser in focus

by | Feb 16, 2022

Financial markets’ focus on Thursday will be on the US Federal Reserve and European Central Bank with top officials from both institutions set to deliver speeches.

For the Fed, St.Louis Fed boss, James Bullard, is due to deliver remarks at 1500 GMT, followed by his peer at the Chicago Fed, Charles Evans, at 1545 GMT.

Also due out in the US are a raft of economic reports, including on weekly jobless claims data, housing starts and for manufacturing in the country’s mid-Atlantic region.

Across the Channel meanwhile, ECB chief Christine Lagarde will speak at the G20 Finance Ministers and Central Bank Governors’ meeting in Jakarta.

No economic data are scheduled for release in the UK.

For Reckitt Benckiser’s full-year results, UBS analyst Guillaume Delmas has penciled in a 3.3% rise in fourth quarter like-for-like sales if one excludes sales of Infant Formula and Child Nutrition in China.

LFL revenues from its Hygiene unit meanwhile were pegged to decline by 5.1% as sales of Lysol “normalised” after a bumper Q4 one year before, when sales surged by over 90%.

The company’s Health unit on the other hand was seen posting a 14.5% jump in LFL sales as sales linked to the flu picked up.

Worth noting, Delmas believed that markets were “underappreciating the transformation withing the company supported by almost GBP 1bn in re-investments.”

All told, the analyst had penciled-in a 5.6% drop in full-year revenues to £13.21bn, for earnings before interest and tax (excluding IFCN) of roughly £2.97bn and earnings per share of 294.0p.

Thursday 17 February

INTERIM EX-DIVIDEND DATE

Beazley, Gateley (Holdings) , I3 Energy , K3 Capital Group , Knights Group Holdings , Mattioli Woods, Mountview Estates, NCC Group

QUARTERLY PAYMENT DATE

M Winkworth

QUARTERLY EX-DIVIDEND DATE

BP, NextEnergy Solar Fund Limited Red, Octopus Renewables Infrastructure Trust , Pershing Square Holdings Ltd NPV, Pershing Square Holdings Ltd NPV (USD), Raven Property Group Limited Cum Red Pref, Tritax Eurobox (EUR), Tritax Eurobox (GBP), Vaalco Energy, Inc (DI)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Building Permits (US) (13:30)

Continuing Claims (US) (13:30)

Housing Starts (US) (13:30)

Initial Jobless Claims (US) (13:30)

Philadelphia Fed Index (US) (13:30)

GMS

Oilex Ltd.

FINALS

HarbourVest Global Private Equity Limited A Shs, Reckitt Benckiser Group, Standard Chartered

SPECIAL DIVIDEND PAYMENT DATE

M Winkworth

SPECIAL EX-DIVIDEND DATE

Mountview Estates, Origo Partners , Origo Partners Conv Pref

AGMS

Chrysalis Investments Limited NPV, Highway Capital, Virgin Money UK, Watkin Jones, Watkin Jones

TRADING ANNOUNCEMENTS

Aveva Group, Safestore Holdings

FINAL EX-DIVIDEND DATE

Blackrock Throgmorton Trust, Henderson Opportunities Trust, Imperial Brands , Jersey Electricity ‘A’ Shares, LLoyds Banking Group 6.475% Non-Cum Pref Shares

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