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Thursday preview: US Q1 GDP, Barclays in focus

Wed 24 April 2024 11:57 | A A A

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(Sharecast News) - Investors' attention on Thursday will be on a first reading for U.S. gross domestic product growth during the first quarter.

Consensus is that the economy expanded at a quarterly annualised pace of 2.5%, which was slightly down on 3.4% at the end of 2023.

Also scheduled to be published are weekly jobless claims numbers, as well as foreign trade and pending home sales data for March.

At 0600 BST, consultancy GfK will publish the results of its consumer confidence survey for May.

In the corporate arena and for Barclays's first quarter results, UBS's Jason Napier emphasised the importance of the lender's capital generation and distribution.

His estimates called for £3bn in dividends and share buybacks for fiscal 2024, which would be flat year-on-year.

Guidance from Barclays meanwhile was for net interest income of £6.1bn in FY24, rising to £7.4bn in FY26.

Napier also judged that the shares were discounting return on tangible equity of 10.6% for 2026, which was 140 basis points below Barclays's own guidance for more than 12%.

The reason? The analyst had a roughly £2bn lower revenue forecast, £1.7bn of which was in the investment bank.

Fourth quarter results from U.S. social media heavyweight Meta will have been released the night before, while those from Intel and Microsoft are due out on Thursday evening.

Thursday 25 April

INTERIMS

Focusrite, WH Smith

INTERIM DIVIDEND PAYMENT DATE

Hansard Global

QUARTERLY PAYMENT DATE

General Electric Co (CDI)

QUARTERLY EX-DIVIDEND DATE

City of London Inv Trust, JPMorgan Claverhouse Inv Trust, Tufton Oceanic Assets Limited NPV

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Continuing Claims (US) (13:30)

GDP (Preliminary) (US) (13:30)

GFK Consumer Confidence (GER) (07:00)

Initial Jobless Claims (US) (13:30)

Pending Homes Sales (US) (15:00)

GMS

Societatea Energetica Electrica SA GDR (Reg S)

FINALS

Aquila European Renewables (GBP), Argo Blockchain, Destiny Pharma , PureTech Health , Sainsbury (J), Zinc Media Group

ANNUAL REPORT

PureTech Health

SPECIAL EX-DIVIDEND DATE

Greggs, Sabre Insurance Group, Seed Innovations Limited, Seplat Energy (DI)

EGMS

SDIC Power Holdings Co.,Ltd GDR (Reg S) , Societatea Energetica Electrica SA GDR (Reg S)

AGMS

Admiral Group, AFC Energy, Beazley, BP, CLS Holdings, CRH (CDI), Develop North, Drax Group, Everest Global, Greencoat Renewables (CDI), Hammerson, Helios Towers , Hikma Pharmaceuticals, JSC Halyk Bank GDR (Reg S), London Stock Exchange Group, Persimmon, Premier Miton Global Renewables Trust, Relx plc, Sampo OYJ, Schroders, SThree, SThree, Weir Group, XP Power Ltd. (DI)

TRADING ANNOUNCEMENTS

Currys , Drax Group, Gem Diamonds Ltd. (DI), Hikma Pharmaceuticals, Ibstock , Ibstock , Inchcape, London Stock Exchange Group, London Stock Exchange Group, London Stock Exchange Group, PPHE Hotel Group Ltd, Unilever, W.A.G Payment Solutions , WPP

FINAL EX-DIVIDEND DATE

AVI Japan Opportunity Trust , Bakkavor Group , Bodycote, Cairn Homes (CDI), Central Asia Metals, Convatec Group , Derwent London, Eurocell , Greggs, Harworth Group, Legal & General Group, M. P. Evans Group, Me Group International, Morgan Advanced Materials , Morgan Sindall Group, Mortgage Advice Bureau (Holdings) , Murray International Trust, Portmeirion Group, Public Policy Holding Company, Inc.(DI), Rightmove, Sabre Insurance Group, Secure Trust Bank, Seplat Energy (DI), Shaftesbury Capital, Spirax-Sarco Engineering, St James's Place, Stelrad Group , Team Internet Group , Tyman, Wickes Group

Q1

AstraZeneca, Barclays, Indivior

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