Wednesday preview: Central banks, Dunelm in focus

updated: 11 February 2020 at 3:40pm Author: Alexander Bueso

(Sharecast News) - Central banks will be in the spotlight again on Wednesday, against an otherwise largely empty economic calendar.

In particular, rate-setters in Wellington and Stockholm are due to meet to decide on monetary policy, although neither is expected to make a move.

Across the Channel meanwhile, European Central Bank chief economist, Philip Lane, is due to deliver a speech at 0850 GMT.

Against that backdrop, euro area industrial production data due out at 1000 GMT is likely to make for grim reading and may stoke renewed talk of the need for further economic stimulus.

Stateside meanwhile, Federal Reserve chairman, Jerome Powell, will testify for a second day before the US Congress, this time before the Senate Banking Committee.

Dunelm is expected to post a first half profit increase of 20% to reach ?83m, with the home furnishings retailer having already guided in December towards higher than expected full-year profits.

At the start of January, the company also told shareholders that, on a like-for-like basis, total sales jumped by 5.0% year-on-year in the second quarter and by 5.6% over the first six months of its financial year.

"The group has been performing well for some time now as it revealed solid full-year numbers in September too," said David Madden, senior market analyst at CMC Markets UK.

"Given that many companies in the retail sector have been finding trading tough recently, the robust performance by Dunelm is made all the more impressive."

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