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Thursday preview: Bank of England, Cineworld in the spotlight

Wed, 16th Mar 2022 12:45

(Sharecast News) - Financial markets' attention on Thursday will be on the Bank of England, even as investors keep a wary eye trained on events in Ukraine.

Policymakers are widely expected to hike Bank Rate again, by 25 basis points, to 0.75%.

Nonetheless, for their part, economists at Barclays Research expect the Monetary Policy Committee to strike a dovish tone, given the uncertainty around the conflict in Ukraine.

Barclays expected the monetary policy decision to be unanimous.

A raft of economic data is set for release in the States, including the results of the Philly Fed's factory sector survey for March.

Across the Channel meanwhile, at 0930 GMT, European Central Bank president, Christine Lagarde, will speak at 'The ECB and its Watchers XXII' conference.

Against that backdrop, at 1000 GMT, Eurostat will publish a final reading for euro area consumer prices in February.

The most important element of Cineworld's full-year results presentation will likely be its guidance. That is because the heavily indebted company, which is also facing potential multi-million legal redress costs for their aborted merger, needs to see a "big" improvement in revenues, says Michael Hewson, chief market analyst at CMC Markets UK.

Compounding matters, recent sharp increases in inflation are likely to be a drag on discretionary spending, although Cineworld did report a sharp pick up in sales for December, which allowed it to turn cash-flow positive during the fourth quarter.

Worth noting, in the past the company has broached the possibility of pursuing a US listing and a possible flotation of its Regal unit in the States.

Thursday 17 March

INTERIM DIVIDEND PAYMENT DATE

Ideagen, Knights Group Holdings

INTERIM EX-DIVIDEND DATE

Brooks Macdonald Group, Colefax Group, Dunelm Group, Grit Real Estate Income Group Limited NPV, Ince Group (The), JPMorgan Mid Cap Inv Trust, NWF Group, Thorpe (F.W.), Trifast, Triple Point VCT 2011 'B'

QUARTERLY EX-DIVIDEND DATE

Round Hill Music Royalty Fund Limited NPV, Standard Life Private Equity Trust

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Building Permits (US) (12:30)

Capacity Utilisation (US) (13:15)

Continuing Claims (US) (12:30)

Housing Starts (US) (12:30)

Industrial Production (US) (13:15)

Initial Jobless Claims (US) (12:30)

Philadelphia Fed Index (US) (12:30)

Retail Sales (US) (12:30)

FINALS

Ceres Power Holdings, Cineworld Group, Deliveroo Class A , EMIS Group, Empresaria Group, Harbour Energy , Helios Towers , Marshalls, PensionBee Group , Portmeirion Group, Transgloble Energy Corporation NPV (DI), Tribal Group

SPECIAL EX-DIVIDEND DATE

Anglo American, Thorpe (F.W.)

AGMS

Autins Group

TRADING ANNOUNCEMENTS

Ocado Group

UK ECONOMIC ANNOUNCEMENTS

BoE Interest Rate Decision (12:00)

FINAL DIVIDEND PAYMENT DATE

Blackrock Income And Growth Investment Trust, Treatt

FINAL EX-DIVIDEND DATE

Anglo American, Bellevue Healthcare Trust (Red), BlackRock World Mining Trust, Crest Nicholson Holdings, Dairy Farm International Holdings Ltd (Bermuda), Dairy Farm International Holdings Ltd. (Jersey), Dairy Farm International Holdings Ltd. (Singapore), HGCapital Trust, Hikma Pharmaceuticals, Hongkong Land Holding Ltd. (Bermuda), Hongkong Land Holding Ltd. (Jersey), Hongkong Land Holding Ltd. (Sing.Reg), Jardine Matheson Holdings Ltd (Singapore Reg), Jardine Matheson Holdings Ltd. (Bermuda), Jardine Matheson Holdings Ltd. (Jersey), MTI Wireless Edge Ltd., NATWEST GROUP PLC ORD 100P, RM, SEGRO, Spirent Communications

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3 Apr 2023 17:09

LONDON MARKET CLOSE: FTSE 100 higher as oil prices surge on OPEC+ cut

(Alliance News) - Stocks in London were largely higher at the close on Monday, with oil stocks star performers following a surprise production cut from the OPEC+ over the weekend.

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3 Apr 2023 11:05

TOP NEWS: Cineworld agrees restructuring leaving shareholders in cold

(Alliance News) - Cineworld Group PLC on Monday said it has entered into a restructuring support agreement and backstop commitment agreement with lenders to support its financing plan.

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3 Apr 2023 07:22

Cineworld strikes deal to exit Chapter 11, shares tumble

(Sharecast News) - Embattled cinema chain Cineworld Group said on Monday that it has struck a deal with lenders as it looks to exit Chapter 11 bankruptcy protection.

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27 Mar 2023 12:12

UPDATE: CVC Capital eyes rival bid for certain Cineworld's operations

(Alliance News) - Luxembourg-based private equity firm CVC Capital Partners has approached Cineworld Group PLC about an offer for its operations in eastern Europe and Israel, Sky News reported on Monday.

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27 Mar 2023 11:45

CVC Capital Partners said to plan bid for parts of Cineworld

(Sharecast News) - Cineworld has reportedly been approached by buyout firm CVC Capital Partners about a takeover of parts of the struggling group.

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27 Mar 2023 07:54

LONDON BRIEFING: Stocks called higher as banking crisis fears ease

(Alliance News) - Stocks in London were called to open higher on Monday, as investors look past the recent turbulence in the banking sector.

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27 Mar 2023 06:55

LONDON MARKET EARLY CALL: Stocks seen up, but sentiment still cautious

(Alliance News) - Stocks in London were set to open higher on Monday, recouping some of Friday's losses after further jitters in the banking sector.

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27 Mar 2023 06:15

PRESS: Elliott Management eyes bid for part of Cineworld's operations

(Alliance News) - US activist investment firm Elliott Management is planning to take over beleaguered cinema chain Cineworld Group PLC's operations outside of the UK and the US, Sky News reported on Saturday.

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7 Mar 2023 12:48

Picturehouse founder planning to buy chain from Cineworld - report

(Sharecast News) - The founder of boutique cinema chain Picturehouse is reportedly hatching a plan to buy it back as part of a potential break-up of Cineworld.

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24 Feb 2023 17:20

FTSE 100 posts worst week of the year, Cineworld plunges over 40%

Wall St drops after hot inflation data

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24 Feb 2023 10:16

Cineworld gets no offer for whole company, warns on shareholders' equity

Says insufficient creditor support for recovery of equity interests

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24 Feb 2023 09:19

TOP NEWS: Cineworld shares plunge as expects to exit bankruptcy

(Alliance News) - Cineworld Group PLC on Friday said it has received non-binding proposals from a number of counterparties for some or all of its businesses, but the debt-ridden business expects any deal with its creditors will wipe out its shareholders.

Read more
24 Feb 2023 09:01

LONDON MARKET OPEN: FTSE 100 higher before US inflation print

(Alliance News) - European markets were higher at Friday's open, though trading was somewhat tentative ahead of a key inflation print from the US.

Read more
24 Feb 2023 07:55

LONDON BRIEFING: IAG swings to profit; German GDP falls

(Alliance News) - Stocks in London were called higher on Friday, ahead of a key inflation reading in from the US.

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24 Feb 2023 07:38

Cineworld to exit Chapter 11 in H1, sees no recovery for shareholders

(Sharecast News) - Cineworld said on Friday that it has received non-binding proposals for some or all of its businesses but that none of these involve an all-cash bid for the entire business and any sale will not provide recovery for shareholders.

Read more

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