(Sharecast News) - After a quiet couple of days for economic data, Wednesday's schedule picks up a gear with the release of April's UK consumer price index, while updates from high street names Curry's, JD Sports and Marks & Spencer will likely draw some attention.


UK consumer prices are expected to have surged by 1.1% in April, after rising by just 0.3% in March, according to consensus forecasts, with the year-on-year rate picking up to 3.3% from 2.6%. If the data meets estimates, this would represent the highest annual rate of inflation in 14 months.

The main culprit of the acceleration is expected to be energy costs, with the energy price cap some 6% higher than last year, while service price inflation is also predicted to have risen.

"The Bank of England expects inflation to rise to 3.7% by September, before falling back to the target rate after that. The BOE sees upside risks to inflation coming from service prices, which have continued to rise at a decent clip," said Kathleen Brooks, research director at XTB.

"Overall, higher inflation supports the BOE's 'careful and gradual' approach to rate cuts, and it may spur the two MPC members to continue to vote against rate cuts in the coming months."

In company news, investors in M&S will be waiting to see if the retailer will give any guidance on how the recent cyberattack has affected sales, given the company has been forced to pause all online orders over the past month.

Full-year results from the firm are expected to address this on Wednesday, but with the shares still down more than a tenth since the cyberattack was first announced, "this suggests [the] market is partially pricing in some impact", UBS said.

"We expect MKS to address this at the FY results catalyst where we could see some downside based on the severity and timeline of disruption," analysts said in their Week Ahead note last Friday.



Wednesday May 21

INTERIMS

Avon Technologies , IntegraFin Holding

INTERIM DIVIDEND PAYMENT DATE

Softcat

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Crude Oil Inventories (US) (15:30)

MBA Mortgage Applications (US) (12:00)

GMS

Mid Wynd International Inv Trust

FINALS

Great Portland Estates, Helical, HICL Infrastructure , Intermediate Capital Group, JD Sports, Marks & Spencer, SSE

ANNUAL REPORT

Clean Power Hydrogen

AGMS

4Imprint Group, Bodycote, Capital Limited (DI), CK Infrastructure Holdings Limited (CDI), Dowlais Group, Essentra, JTC, Ming Yang Smart Energy Group Limited Gdr (Each Repr 5 A Shs Rmb1) (Reg S), Mortgage Advice Bureau (Holdings) , Playtech, PPHE Hotel Group Ltd, Sancus Lending Group Limited NPV, Science Group , Sherborne Investors (Guernsey) C Limited NPV, Stelrad Group , The Artisanal Spirits Company, VH Global Energy Infrastructure

TRADING ANNOUNCEMENTS

Currys

UK ECONOMIC ANNOUNCEMENTS

Consumer Price Index (07:00)

Producer Price Index (07:00)

Retail Sales (07:00)

FINAL DIVIDEND PAYMENT DATE

AIREA, Harbour Energy , London Stock Exchange Group, Man Group, Phoenix Group Holdings

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