Thursday preview: ECB, Rentokil in focus

updated: 21 April 2021 at 12:43pm Author: Alexander Bueso

(Sharecast News) - All eyes on Thursday will be firmly on the European Central Bank as its governing council meets to decide on policy.

Economists at Barclays Research said clients should not expect any changes, with its boss, Christine Lagarde, likely to reiterate her determination to maintain favourable financing conditions.

Neither did Barclays anticipate that any further details on the ECB's policy framework would be forthcoming.

Neil Wilson, chief market analyst at, was of a similar mind, but cautioned that there was ample room for missteps when it came to the ECB's communications.

"This ought to be a quiet one for the ECB, but the propensity for miscommunication is strong," Wilson said.

"So we look rather to the risk that a hawkishness creeps in. The ECB will need to be careful about getting itself tied in knots about when and how it will exit PEPP just yet, and whether a PEPP taper coincides with raising traditional asset purchases [...]

"Now is not the time for such debates [...]."

Stateside meanwhile, the spotlight will be on weekly initial jobless claims data, with financial markets keen to see to what degree the sharp drop during the previous week reversed or not.

On home shores meanwhile, the Confederation of British Industry is scheduled to release its Industrial Trends survey at 1100 BST.

For disinfection and pest control specialist Rentokil's first quarter results, UBS's Nicole Manion is forecasting a "relatively "strong" start to the year.

Nevertheless, while the contribution to sales from disinfection services was expected to have extended into the first three months of the year, her estimates called for a "dramatic fade" over the remainder of 2021.

Revenues from that business were seen declining to only £10m by the final quarter of the year.

For the first quarter on the other hand, she pegged disinfection revenues at £75m, for total growth in Hygiene sales of over 50%.

Full-year organic growth in pest control meanwhile was seen at more than 5%, albeit weighted towards the backhalf of the year due to the impact of business closures on commercial Pest at the beginning of the year.

Thursday 22 April


JpMorgan China Growth & Income , M Winkworth


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