Wednesday preview: ECB, Great Portland Estates in the spotlight

updated: 10 November 2020 at 3:10pm Author: Alexander Bueso

(Sharecast News) - Financial markets' focus in the middle of the week will be on the start of the European Central Bank Forum, with investors keen to hear the latest views from monetary authority's top officials on current economic conditions, although forecasts appear to be in a state of flux following the latest Covid-19 vaccine news.

Stateside it may be a quiet day, with some traders away from their desks in observance of Veterans Day.

No major economic releases are scheduled in the UK.

For Great Portland Estates's half year, UBS's Osmaan Malik had penciled-in a 6% drop in net asset value to 820p (consensus: 834p) on account of lower revaluations across its portfolio.

Earnings per share meanwhile were pegged at down by 31% year-on-year at 7.3p (consensus: 7.8p) on the back of lower rent collections.

Hence, the analyst said that he would be watching closely for any updates on rent collections and as regards the leasing/investment market, with a particular focus on any signs of slippage in incentives and rental levels.

"The investment market has held up remarkably well so far and we look for commentary," he said.

"We will also look for discussion over appetite to commit to further projects on its substantial development pipeline, which has largely been on hold, and the current uncertainty main further delay starts."

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