All eyes on Tuesday will be on US central bank chairman Jerome Powell’s testimony before Congress and to what extent – or not – he leaves the door open to a reacceleration in the pace of interest rate hikes from 25 basis points to 50bp.
The Federal Reserve’s policymakers were next due to meet on 21-22 March.
But first, overnight, China’s customs administration was to publish foreign trade data for the month of February.
As well, rate-setters in Sydney were expected to announce a 25bp hike in the central bank’s cash rate to 3.60%.
In the euro area meanwhile, financial markets’ focus was likely to be on factory orders figures out of Germany for the month of January.
No major economic releases were scheduled in the UK.
In the corporate space, cyber-defence specialist Darktrace was scheduled to post its first half figures.
At the start of 2023, management lowered its guidance for the rate of increase in full-year recurring revenue growth to between 29.5-31% from 31-34%. It also guided towards first half revenues of $258m.
Commenting on the company’s outlook, Michael Hewson, chief market analyst at CMC Markets UK, said that although the rate of growth of customers was slowing, it remained in the mid-20%.
Hewson however also noted the skepticism expressed by short-seller Quintessential Capital Management in February regarding the validity of the company’s financial statements.
Tuesday 7 March
FINALS
Foxtons Group, IWG, Just Group, Keller Group, Greggs, Fresnillo, Johnson Service Group, H&T Group, STV Group, Elementis, Reach
INTERIMS
Revolution Bars Group, DotDigital Group
Q3
Ashtead Group
EGMs
MHP SA GDR (Reg S)
INTERIM DIVIDEND PAYMENT DATE
Schroder Real Estate Investment Trust Ltd
QUARTERLY EX-DIVIDEND DATE
Tetragon Financial Group Limited
UK ECONOMIC ANNOUNCEMENTS
BRC Sales Monitor (00:01)
Halifax House Price Index (07:00)
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Factory Orders (GER) (07:00)
Wholesales Inventories (US) (15:00)
Consumer Credit (US) (20:00
