Wednesday preview: US bank earnings, Ashmore Group in focus

updated: 13 October 2020 at 3:29pm Author: Alexander Bueso

(Sharecast News) - The focus on Wednesday will continue to be on incoming earnings reports Stateside, including several of the top-tier lenders, against a backdrop of speeches from central bank officials on both sides of the Pond.
Among the former, Bank of America, Goldman Sachs and Wells Fargo are all due to update investors.

They will be followed at 1500 BST by a speech from Federal Reserve vice-president, Richard Clarida, who will take to the podium at the International Institute of Finance to debate the outlook for the US economy.

Earlier, at 1215 BST, European Central Bank chief economist, Philip Lane, will discuss the EU and US's perspectives on how to foster an economic recovery at an event hosted by SUERF Online.

No major economic releases are scheduled in the UK.

Among the companies slated to update investors on Wednesday is Ashmore Group.

UBS's Michael Werner has penciled-in assets under management of $84.8bn for the first quarter of the firm's 2021 financial year.

That would equate to a 1% rise on the quarter and 8% growth year-on-year.

The fund manager was expected to have seen $0.3bn of outflows over the latest three month stretch, with outflows from retail but flows in its institutional channel seen flat.

Nevertheless, those outflows were expected to have been more than offset by $1.5bn of positive market performance.

"We think investors should focus on the CEO's outlook with regards to the expectation for flows in the final quarter of the year. We rate the firm Buy with a PT of 470p."

Wednesday 14 October

INTERIMS

Angling Direct , ASA International Group , Randall & Quilter Investment Holdings (DI)

INTERIM DIVIDEND PAYMENT DATE

Dairy Farm International Holdings Ltd (Bermuda), Dairy Farm International Holdings Ltd. (Jersey), Dairy Farm International Holdings Ltd. (Singapore), Hongkong Land Holding Ltd. (Bermuda), Hongkong Land Holding Ltd. (Jersey), Hongkong Land Holding Ltd. (Sing.Reg), Jardine Matheson Holdings Ltd (Singapore Reg), Jardine Matheson Holdings Ltd. (Bermuda), Jardine Matheson Holdings Ltd. (Jersey), Jardine Strategic Holdingd Ltd. (Bermuda), Jardine Strategic Holdingd Ltd. (Jersey REG), Jardine Strategic Holdings Ltd. (Singapore)

QUARTERLY PAYMENT DATE

Assura

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Industrial Production (EU) (10:00)

MBA Mortgage Applications (US) (12:00)

Producer Price Index (US) (13:30)

FINALS

Applied Graphene Materials , MJ Hudson Group NPV

AGMS

Barratt Developments, Diverse Income Trust (The), Primorus Investments, Watches of Switzerland Group

TRADING ANNOUNCEMENTS

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