Week Ahead: All eyes on Scotland (and the Fed)
The coming week’s calendar is chock full of economic data and potentially market moving events.
Naturally, all eyes will be on the result of Thursday’s Scottish referendum. Come Friday morning, when the results are released, we will know if the 300-year old political union continues – or not. Most likely it will, but if it does not it will be highly disruptive; in the short-term for financial markets, while in the long-term the implications would likely be far more profound than some pundits would make it out to be.
For now bookies seem to be banking on the ‘no’ campaign managing a victory, albeit by a narrow margin.
As far as more normal risk events are concerned, the main one will be Wednesday’s release of the latest set of MPC meeting minutes. That will be complemented by the latest figures on consumer prices, employment and retail sales, courtesy of the Office for National Statistics (ONS).
On Friday ratings agency Moody’s will announce its decision on the UK’s sovereign debt rating.
Stateside the US Federal Reserve’s policy announcement on Wednesday, and subsequent press conference, will also be scrutinised. "The FOMC meeting is likely to push forward the timing of the first rate hike. We see a close to 50-50% chance of a change to the forward guidance. Overall, we believe the FOMC meeting will mark a hawkish shift in the Fed's stance," analysts at Danske Bank Markets explained to clients on Friday evening.
Lastly, it may pay to keep tabs on the latest numbers due out 13 September for Chinese industrial production, retail sales and fixed asset investment.
Monday 15 September
INTERIMS
Bond International Software, Bushveld Minerals Limited, Cdialogues , EKF Diagnostics Holdings , Global Ports Investments GDR (REG S), M. P. Evans Group, Mysale Group, Nasstar, Paragon Entertainment Ltd (DI), Quixant, Reach4Entertainment Enterprises, SimiGon Ltd. (DI), SKIL Ports & Logistics Ltd., Telit Communications
INTERIM DIVIDEND PAYMENT DATE
AstraZeneca, Countrywide, Dragon Oil, Fidessa Group
QUARTERLY PAYMENT DATE
Canadian General Investments Ltd.
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Trade (EU) (10:00)
Capacity Utilisation (US) (16:15)
Industrial Production (US) (16:15)
FINALS
Avanti Communications Group, City of London Investment Group, Monitise
SPECIAL DIVIDEND PAYMENT DATE
Countrywide
EGMS
Action Hotels, Phaunos Timber Fund Ltd.
AGMS
Fastnet Oil & Gas, Rockhopper Exploration
FINAL DIVIDEND PAYMENT DATE
Greene King
Tuesday 16 September
INTERIMS
Charlemagne Capital Ltd., Christie Group, e-Therapeutics, IQE, LiDCO Group, Mar City, Porta Communications , Silence Therapeutics, Thalassa Holdings Ltd. (DI), TLA Worldwide , Ubisense Group
INTERIM DIVIDEND PAYMENT DATE
Mondi, Rentokil Initial
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Producer Price Index (US) (13:30)
ZEW Survey (EU) (10:00)
ZEW Survey (GER) (10:00)
FINALS
Craneware, Galliford Try, Pan African Resources
IMSS
Crest Nicholson Holdings
EGMS
JSC Acron GDR (Reg S), OJSC Phosagro GDR (Regs), Societatea Nationala De Gaze Naturale Romgaz S.A. GDR (Reg S)
AGMS
Aberdeen Private Equity Fund Ltd. Sterling Part Shares, Cohort, Daisy Group, Foresight 3 VCT, HML Holdings, NCC Group, Tricorn Group, Utilico Emerging Markets Ltd (DI)
TRADING ANNOUNCEMENTS
Brown (N.) Group, Euromoney Institutional Investor, Thomas Cook Group
UK ECONOMIC ANNOUNCEMENTS
Consumer Price Index (09:30)
Producer Price Index (09:30)
Retail Price Index (09:30)
Wednesday 17 September
INTERIMS
Avanta Serviced Office Group, Cello Group, JD Sports Fashion, Mi-Pay Group, Real Estate Investors, ServicePower Technologies, XLMedia
INTERIM DIVIDEND PAYMENT DATE
Hiscox Ltd (CDI), Mobeus Income & Growth Vct
INTERIM EX-DIVIDEND DATE
Antofagasta, Ashley (Laura) Holding, BBA Aviation, Belvoir Lettings, Chime Communications, Computacenter, Costain Group, Foresight VCT Infrastructure Shares, Highcroft Investment, International Public Partnerships Ltd., InterQuest Group, Interserve, Irish Continental Group Units, Maintel Holdings, Martinco , Melrose Industries, Molins, Neptune-Calculus Income & Growth VCT, Octopus AIM VCT 2, Pennant International Group, Petrofac Ltd., Primary Health Properties, RPS Group, Total Produce, Tribal Group
QUARTERLY EX-DIVIDEND DATE
TwentyFour Select Monthly Income Fund Limited
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Payments (US) (13:30)
Consumer Price Index (EU) (10:00)
Consumer Price Index (US) (13:30)
Crude Oil Inventories (US) (15:30)
Current Account (US) (13:30)
FOMC Interest Rate (US) (19:00)
Harmonised Index of Consumer Prices (EU) (10:00)
MBA Mortgage Applications (US) (12:00)
New Car Registrations (EU) (10:00)
FINALS
Brooks Macdonald Group, IndigoVision Group, Kier Group, Smiths Group, Transense Technologies
IMSS
Imagination Technologies Group, Smith (DS)
SPECIAL EX-DIVIDEND PAYMENT DATE
Mobeus Income & Growth 2 Vct
EGMS
Fyffes
AGMS
Colefax Group, Datatec Ltd. (DI), ECO Animal Health Group, Gail (India) Ltd GDR (Reg S), Games Workshop Group, Intercede Group, Marwyn Value Investors Limited, Private Equity Investor, Sefton Resources Inc., Smith (DS)
TRADING ANNOUNCEMENTS
Daily Mail and General Trust A (Non.V)
UK ECONOMIC ANNOUNCEMENTS
BoE Interest Rate Minutes (09:30)
Claimant Count Rate (09:30)
Unemployment Rate (09:30)
FINAL EX-DIVIDEND DATE
AdEPT Telecom, Best of the Best, Consort Medical, Conviviality Retail , Derwent London, Henderson Smaller Companies Inv Trust, Renishaw, Standard Life UK Smaller Companies Trust, Stewart & Wight, Swan (John) & Sons, UniVision Engineering Ltd.
Thursday 18 September
INTERIMS
Card Factory, French Connection Group, Hellenic Carriers Ltd., Premier Farnell, Safestyle UK , Summit Germany Limited
INTERIM DIVIDEND PAYMENT DATE
Anglo American, Rexam
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Building Permits (US) (13:30)
Continuing Claims (US) (13:30)
Housing Starts (US) (13:30)
Initial Jobless Claims (US) (13:30)
Philadelphia Fed Index (US) (15:00)
GMS
Octagonal, Plethora Solutions Holdings
FINALS
Just Retirement Group, Kier Group, Sinclair Is Pharma, Swallowfield, Wilmington Group
IMSS
Merlin Entertainments , Northgate
AGMS
Best of the Best, Diageo, Jaywing, Trifast
TRADING ANNOUNCEMENTS
Booker Group
UK ECONOMIC ANNOUNCEMENTS
CBI Industrial Trends Surveys (11:00)
Internet Retail Sales (09:30)
Retail Sales (09:30)
FINAL DIVIDEND PAYMENT DATE
red24
FINAL EX-DIVIDEND DATE
Best of the Best
Friday 19 September
INTERIMS
BrainJuicer Group, IG Seismic Services GDR (Reg S), Songbird Estates
INTERIM DIVIDEND PAYMENT DATE
Amino Technologies, Baronsmead VCT 5, BlackRock World Mining Trust, Ferrexpo, First Quantum Minerals Ltd., Glencore , Henderson Group, IMI, LPA Group, National Express Group, Plus500 Ltd (DI), Secure Trust Bank, Telecity Group
QUARTERLY PAYMENT DATE
Barclays, BP, Duet Real Estate Finance Ltd
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Payments (EU) (09:00)
Current Account (EU) (09:00)
Leading Indicators (US) (15:00)
Producer Price Index (GER) (07:00)
FINALS
CVS Group
SPECIAL DIVIDEND PAYMENT DATE
Elderstreet VCT
AGMS
Frontline Ld, Imagination Technologies Group, Poundland Group , Supergroup
TRADING ANNOUNCEMENTS
Investec
FINAL DIVIDEND PAYMENT DATE
Aberdeen Private Equity Fund Ltd. Sterling Part Shares, Downing One VCT , Eckoh, Falkland Islands Holdings, JPMorgan Brazil Inv Trust , SSE