Financial markets’ focus in the next to last full week of trading of 2022 was expected be on monetary policy decisions in the US, UK and euro area.
On Wednesday, rate-setters in the States were widely expected to dial back on the pace of rate hikes to 50 basis points per meeting, alongside a hawkish set of projections from its top policymakers, including for a terminal rate of 5.125%.
To take note of, consumer price data for November due out the day before, together with the Fed’s decision, could lead to a short squeeze in the Greenback, MUFG analyst Lee Hardman said in a research note sent to clients, as the dollar had already weakened noticeably since the last CPI report.
Nonetheless, Hardman believed that the US inflation and the dollar were both now past their respective peaks.
Thursday meanwhile would see the release of US retail sales figures for November and the Philly Fed’s November factory sector survey results for December.
It was also set to be a busy week in the UK, with the Bank of England seen announcing another 50bp hike on Thursday.
Against that backdrop, monthly GDP data were due out on Monday, followed by a reading on employment in October on Tuesday, CPI numbers for November on Wednesday and reports on monthly consumer confidence and retail sales on Friday.
In the euro area, come Thursday the European Central Bank was also expected to raise its main policy rates by 50bp and to announce a shift towards only the partial reinvestment of the proceeds from its asset purchase programme.
It was also possible that the ECB would announce a timeline for the start of quantitative tightening.
On Friday meanwhile, S&P Global was scheduled to publish the preliminary results of its purchasing managers’ surveys for euro area manufacturing and services activity in December.
Farther afield, in China, Thursday would bring with it a barrage of economic activity indicators for November.
Monday 12 December
FINALS
Tertiary Minerals, Polar Capital Global Healthcare Trust
INTERIMS
Tungsten West, Polar Capital Technology Trust, Byotrol, RUA Life Sciences, Coral Products
TRADING ANNOUNCEMENTS
Springfield Properties, Argentex Group, Oxford Cannabinoid Technologies Holdings, Engage XR Holdings (CDI), Sigmaroc, K3 Capital Group
AGMs
Tristel, Marwyn Value Investors Limited
ANNUAL REPORT
easyJet, WH Smith, Ten Lifestyle Group
DRILLING REPORT
Hamak Gold Limited NPV (DI), Artemis Resources Limited NPV (DI), Oriole Resources
FINAL DIVIDEND DATE
YouGov
QUARTERLY DIVIDEND PAYMENT DATE
Round Hill Music Royalty Fund Limited NPV, Brunner Inv Trust
UK ECONOMIC ANNOUNCEMENTS
Balance of Trade (07:00)
Index of Services (07:00)
Gross Domestic Product (07:00)
Industrial Production (07:00)
Tuesday 13 December
FINALS
Chemring Group, Hyve Group, Image Scan Holdings
INTERIMS
Sosandar
TRADING ANNOUNCEMENTS
Ocado Group
AGMs
Amedeo Air Four Plus Limited Red Ord NPV, Blancco Technology Group, Softcat, Avation, Macau Property Opportunities Fund Ltd.
GMs
Spectris
ANNUAL REPORT
Benchmark Holdings
FINAL DIVIDEND PAYMENT DATE
Pan African Resources
UK ECONOMIC ANNOUNCEMENTS
Claimant Count Rate (07:00)
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Price Index (GER) (07:00)
ZEW Survey (GER) – Economic Sentiment (10:00)
ZEW Survey (EU) – Economic Sentiment (10:00)
ZEW Survey (GER) – Current Situation (10:00)
Current Account (GER) (11:30)
Consumer Price Index (GER) (13:30)
Wednesday 14 December
FINALS
IntegraFin Holding, TUI AG Reg Shs (DI)
INTERIMS
Cyanconnode Holdings
AGMs
Volution Group, Fidelity Special Values, Tremor International LTD (DI), abrdn Latin American Income Fund Limited NPV
ANNUAL REPORT
TUI AG Reg Shs (DI)
SPECIAL DIVIDEND PAYMENT DATE
SLF Realisation Fund Limited NPV, SLF Realisation Fund Limited C Shs NPV
QUARTERLY EX-DIVIDEND DATE
General Electric Co (CDI)
UK ECONOMIC ANNOUNCEMENTS
Producer Price Index (07:00)
Retail Price Index (07:00)
Consumer Price Index (07:00)
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Industrial Production (EU) (10:00)
MBA Mortgage Applications (US) (12:00)
Import and Export Price Indices (US) (13:30)
Crude Oil Inventories (US) (15:30)
Thursday 15 December
FINALS
C4X Discovery Holdings
INTERIMS
Currys
TRADING ANNOUNCEMENTS
Serco Group
EGMs
Glenveagh Properties (CDI)
FINAL EX-DIVIDEND DATE
Hamak Gold Limited NPV (DI), Artemis Resources Limited NPV (DI), Oriole Resources
INTERIM X-DIVIDEND DATE
Balanced Commercial Property Trust Limited, TwentyFour Select Monthly Income Fund Limited, Supreme, MS International, Redde Northgate, BlackRock Energy and Resources Income Trust, Mercia Asset Management, Baltic Classifieds Group, Mitie Group, Burberry Group, Vertu Motors, DSW Capital, Smith (DS), Caspian Sunrise, Templeton Emerging Markets Inv Trust, Chelverton UK Dividend Trust, CT Global Managed Portfolio Trust Inc Shs, Hipgnosis Songs Fund Limited NPV, Ferguson, Pittards, Thames Ventures Vct 1, JPMorgan Global Markets Emerging Income Trust, US Solar Fund, Discoverie Group, Halfords Group, ICG-Longbow Senior Secured UK Property Debt Investments Ltd, US Solar Fund (GBP), Cranswick, Triad Group, Redcentric, Triple Point Energy Transition, Fuller Smith & Turner, TR Property Inv Trust
INTERIM DIVIDEND PAYMENT DATE
Ninety One, Murray Income Trust
SPECIAL EX-DIVIDEND DATE
Seneca Growth Capital Vct, Foresight Enterprise VCT
QUARTERLY EX-DIVIDEND DATE
Tritax Eurobox (GBP), Tritax Eurobox (EUR)
QUARTERLY DIVIDEND PAYMENT DATE
Canadian General Investments Ltd.
UK ECONOMIC ANNOUNCEMENTS
BoE Interest Rate Minutes (12:00)
BoE Interest Rate Decision (12:00)
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Wholesale Price Index (GER) (07:00)
Continuing Claims (US) (13:30)
Initial Jobless Claims (US) (13:30)
Philadelphia Fed Index (US) (13:30)
Retail Sales (US) (13:30)
Capacity Utilisation (US) (14:15)
Industrial Production (US) (14:15)
Business Inventories (US) (15:00)
Friday 16 December
INTERIMS
Gore Street Energy Storage Fund
AGMs
Baillie Gifford Japan Trust, CQS Natural Resources Growth and Income
Argos Resources Ltd. (DI), Aeorema Communications, DX (Group)
AGMs
GS Chain, Sareum Holdings, Bellway, Up Global Sourcing Holdings, Thor Explorations Ltd (D
FINAL DIVIDEND PAYMENT DATE
Croma Security Solutions Group, Fidelity Emerging Markets Limited Ptg NPV, BlackRock Greater Europe Inv Trust, James Halstead, Craneware, Springfield Properties
INTERIM DIVIDEND PAYMENT DATE
CML Microsystems, Grit Real Estate Income Group Limited NPV, Asia Dragon Trust, Telecom Plus, B&M European Value Retail S.A. (DI), Seneca Growth Capital Vct B, Kainos Group, Gresham House Energy Storage Fund, Sainsbury (J), Riverstone Credit Opportunities Income, Whitbread, Henderson Opportunities Trust, Utilico Emerging Markets Ltd (DI), Tatton Asset Management, Calnex Solutions, Scottish American Inv Company, Momentum Multi-Asset Value Trust, Caspian Sunrise, Triple Point Social Housing Reit, VH Global Sustainable Energy Opportunities, Scottish Mortgage Inv Trust, Volex, Harmony Energy Income Trust, Witan Inv Trust, Wynnstay Properties, Coral Products, Atrato Onsite Energy
FRIDAY SPECIAL DIVIDEND PAYMENT DATE
Union Jack Oil, TotalEnergies SE
QUARTERLY DIVIDEND PAYMENT DATE
BP, Pershing Square Holdings Ltd NPV, Pershing Square Holdings Ltd NPV (USD)
UK ECONOMIC ANNOUNCEMENTS
GFK Consumer Confidence (00:01)
Retail Sales (07:00)
PMI Manufacturing (09:30)
PMI Composite (09:30)
PMI Services (09:30)
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
PMI Manufacturing (GER) (08:30)
PMI Composite (GER) (08:30)
PMI Services (GER) (08:30)
PMI Composite (EU) (09:00)
PMI Manufacturing (EU) (09:00)
PMI Services (EU) (09:00)
Consumer Price Index (EU) (10:00)
Balance of Trade (EU) (10:00)
PMI Composite (US) (14:45)
PMI Manufacturing (US) (14:45)
PMI Services (US) (14:45)