Friday preview: US-China trade, IAG in the spotlight

updated: 9 May 2019 at 4:29pm Author: Alexander Bueso

(Sharecast News) - The spotlight at the end of the week will be on Washington D.C. as the top negotiators for the US and China meet again to discuss trade.
Against that backdrop, at 0930 BST the Office for National Statistics will publish a raft of economic indicators, including on first quarter GDP and for industrial output in March.

Stateside, markets will be waiting on the consumer price data for the month of April and a flurry of speeches from Fed officials.

On the corporate front, the focus will be on International Airlines Group.

Deutsche Bank is expecting the company to guide towards IFRS adjusted full-year operating profits of €3,485m, putting them in-line with the 2018 turnout.

Significantly, the broker was expecting the carrier to have been less negatively impacted than rivals.

"The very recent spike in the oil price poses the most obvious risk to this; however, we see IAG as well hedged and positioned vs. its peers," it said in a research note sent to clients.

For his part, UBS's Jarrod Castle is anticipating first quarter revenues of €5.2bn for earnings before interest and taxes of €118m, versus a consensus forecast of €148m.

On the corporate front, the focus will be on International Airlines Group.

Deutsche Bank is expecting the company to guide towards operating profits of €3,485m, putting them in-line with the 2018 turnout.

Significantly, the broker was expecting the carrier to have been less negatively impacted than rivals.

"The very recent spike in the oil price poses the most obvious risk to this; however, we see IAG as well hedged and positioned vs. its peers," it said in a research note sent to clients.

For his part, UBS's Jarrod Castle is anticipating first quarter revenues of €5.2bn for earnings before interest and taxes of €118m, versus a consensus forecast of €148m.

Friday May 10

INTERIM DIVIDEND PAYMENT DATE

Kin and Carta , Photo-Me International, Softcat

QUARTERLY PAYMENT DATE

BlackRock World Mining Trust, Scottish Inv Trust

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Balance of Trade (GER) (07:00)

Consumer Price Index (13:30)

Current Account (GER) (07:00)

Q3

X5 Retail Group NV GDR (Reg S)

AGMS

Alpha Fx Group , BBA Aviation, Clarke (T.), Eurocell , FBD Holdings, GLI Finance Limited, John Laing Group , Man Group, Millennium & Copthorne Hotels, Mobeus Income & Growth 4 Vct, Morgan Advanced Materials , Rightmove, RSA Insurance Group, Schroder Asian Total Return Investment Company , Transgloble Energy Corporation NPV (DI), X5 Retail Group NV GDR (Reg S)

UK ECONOMIC ANNOUNCEMENTS

Balance of Trade (09:30)

GDP (Preliminary) (09:30)

Gross Domestic Product (09:30)

Index of Services (09:30)

FINAL DIVIDEND PAYMENT DATE

British Smaller Companies VCT 2, Devro, Drax Group, Fisher (James) & Sons, Harwood Wealth Management Group, Hunting, International Personal Finance, Johnson Service Group, Kerry Group 'A' Shares, Kingspan Group, Lighthouse Group, Pearson, Quixant, Smurfit Kappa Group, Tullow Oil

Q1

International Consolidated Airlines Group SA (CDI)