Week Ahead: US elections, US & UK QE, BP

The first week of November is a very busy one for UK corporate activity but, even so, activity may be eclipsed by events in the USA where the Democratic party is expected to get a battering in mid-term elections on Tuesday, while the Federal Open Market Committee of the US Federal Reserve will announce its decision on interest rates and quantitative easing (QE) on Wednesday. Throw in the always significant US non-farm payrolls data on the Thursday and you have a packed agenda, stateside.Back on this side of the pond the Bank of England's Monetary Policy Committee (MPC) will be making its own pronouncement on interest rates and QE on Thursday. The better than expected third quarter UK gross domestic product data this week may have taken some of the steam out of the QE express, and it seems likely that the MPC will maintain the status quo, though the debate over whether to do so is likely to be a lively one.In a week of big results, the biggest of the big is Tuesday's announcement from stricken oil giant BP. Not only has the company got to withstand comparison with Shell's announcement of an 88% increase in underlying third quarter earnings but much of the UK pension fund industry will be waiting for clues on when the dividend will be restored and at what level.Charles Stanley thinks net income will be little changed from last year at $4.5bn and is predicting a quarterly dividend of 7 cents."BP's first priority is still to improve liquidity and it plans to raise $30bn through disposals and to reduce debt to $10-15bn within the next 18 months," the broker notes. BP's announcement will overshadow fellow oil and gas producer BG Group's third quarter figures, due to be released the same day. Here, Charles Stanley expects net income to improve to $900m from $818m the year before.Moving away from the oil giants, fashion chain Next is scheduled to make an interim management statement on Wednesday. Panmure Gordon is forecasting a year on year decline of 1.0% in retail sales in the third quarter, but the Next Directory should see a rise of about 8.0%. The Next Directory projection "compares with a Q3 [third quarter] outturn of +5.1% last year, and run rates of 7.2% in Q1 and 11.8% (implied) in Q2," the broker notes.Monday November 01INTERIM DIVIDEND PAYMENT DATEBillington Holdings, Dealogic Holdings, Keller GroupQUARTERLY PAYMENT DATEMercantile Inv Trust, Torchmark Corp.INTERNATIONAL ECONOMIC ANNOUNCEMENTSHouse Price Index (AUS) (00:00)PMI Manufacturing(GER) (08:55)PMI Manufacturing(EU) (09:00)Personal Consumption Expenditures (US) (13:30)Personal Income (US) (13:30)Personal Spending (US) (13:30)Construction Spending (US) (15:00)ISM Manufacturing (US) (15:00)ISM Prices Paid (US) (15:00)GMSCenkos Securities, Earthport, Offshore Hydrocarbon Mapping, Otium Ventures ANNUAL REPORTLondon & St lawrence Inv Co., Sabien Technology GroupIMSSMondi, Savills, Telecity Group, Weir GroupEGMSAllied Irish Banks, JSC Sitronics GDR (Reg S), Nyota Minerals Ltd.AGMSAbcam, Cleardebt Group, West Pioneer Properties Ltd. (DI)TRADING ANNOUNCEMENTSGEONG International Ltd.UK ECONOMIC ANNOUNCEMENTSPMI Manufacturing (09:30)FINAL DIVIDEND PAYMENT DATEJPMorgan Mid Cap Inv Trust, NWF Group, Pacific Horizon Inv TrustQ1Harmony Gold Mining Co Ltd.Tuesday November 02INTERIMSEndace Ltd., Media SquareINTERIM DIVIDEND PAYMENT DATEGoldenport Holdings Inc., Total ProduceINTERNATIONAL ECONOMIC ANNOUNCEMENTSPMI Construction (GER) (08:55)PMI Construction (EU) (09:00)New Car Registrations (EU) (10:00)FOMC meeting begins (US)Auto Sales (US) (15:00)ABC Consumer Confidence (US) (22:00)Q3BG Group, BP, Reckitt Benckiser GroupGMSArchipelago ResourcesFINALSImperial Tobacco GroupIMSSAviva, St James's PlaceEGMSComstar United Telesystems GDR (Reg S), Dori Media Group Ltd.AGMSJSM Indochina Ltd. (DI)TRADING ANNOUNCEMENTSPlaytech Ltd.UK ECONOMIC ANNOUNCEMENTSPMI Construction (09:30)Wednesday November 03INTERIMSAlterian, Canaccord Financial Inc., FirstGroup, Gail (India) Ltd. GDR (Reg S)INTERIM DIVIDEND PAYMENT DATEBrammer, Capital Shopping Centres Group, Cello Group, StatPro GroupINTERIM EX-DIVIDEND DATEAga Rangemaster Group, Collins Stewart, Downing Planned Exit VCT 2 'D' Shares , Downing Planned Exit VCT 3 'D' Shares , Hilton Food Group, Intertek Group, Laird, M&C Saatchi, Northern 2 VCT, Persimmon, Provident Financial, SThreeQUARTERLY EX-DIVIDEND DATEJPMorgan Claverhouse Inv Trust, Royal Dutch Shell 'A', Royal Dutch Shell 'B'INTERNATIONAL ECONOMIC ANNOUNCEMENTSPMI Composite (GER) (08:55)PMI Services (GER) (08:55)PMI Composite (EU) (09:00)PMI Services (EU) (09:00)MBA Mortgage Applications (US) (12:00)ADP Employment Change (US) (13:15)Challenger Job Cuts (US) (13:30)Factory Orders (US) (15:00)ISM Non-Manufacturing (US) (15:00)ISM Services (US) (15:00)Crude Oil Inventories (US) (15:30)FOMC Interest Rate (US) (17:15)Q3Endeavour International Corp., Yamana Gold Inc.GMSCMA Global Hedge PCC Ltd. EUR Shares, Intec Telecom Systems, ServocaFINALSEgdon ResourcesANNUAL REPORTAltona EnergyIMSSCapital Shopping Centres Group, Cobham, Logica, Next, Standard LifeSPECIAL EX-DIVIDEND PAYMENT DATEAsian Citrus Holding, Rensburg AIM VCTEGMSCMA Global Hedge PCC Ltd. EUR SharesAGMSJD Wetherspoon, Macau Property Opportunities Fund Ltd., Synairgen, Unitech Corporate ParksTRADING ANNOUNCEMENTSStandard LifeUK ECONOMIC ANNOUNCEMENTSBoE Inflation Report (09:30)BRC Shop Price Index (00:01)Official Reserves (09:30)PMI Composite (09:30)PMI Services (09:30)FINAL EX-DIVIDEND DATEAbcam, Anglo & Overseas, Ashmore Group, Asian Citrus Holding, BlueBay Asset Management, Go-Ahead Group, Interior Services Group, James Halstead, JPMorgan Overseas Inv Trust, Matchtech Group, Murgitroyd Group, United Carpets GroupQ1Centamin Egypt Ltd.Thursday November 04INTERIMSBTG, Cable & Wireless Communications, Invensys, Man Group, Synergy HealthINTERIM DIVIDEND PAYMENT DATECamellia, Cenkos Securities, Fisher (James) & Sons, M. P. Evans Group, Pinewood Shepperton, Tullow OilINTERNATIONAL ECONOMIC ANNOUNCEMENTSPMI Service Sector Survey (FRA) (08:50)PMI Service Sector Survey (GER) (08:55)PMI Composite Index (EU) (09:00)EC PMI Service Sector Survey (EU) (09:00)Producer Price Index (EU) (10:00)ECB Interest Rate (EU) (12:45)Continuing Claims (US) (13:30)Initial Jobless Claims (US) (13:30)Non-farm Productivity (US) (13:30)Q3Hellenic Telecom Industries SA ADS, Millennium & Copthorne Hotels, Unilever, Wolfson MicroelectronicsGMSFitbug Holdings, SpiceFINALSNoble Investments (UK)IMSSCharter International, Meggitt, Old Mutual, RSA Insurance Group, Spirent CommunicationsAGMSIndigoVision Group, Kofax, Redrow, Schroder Japan Growth Fund, SwallowfieldUK ECONOMIC ANNOUNCEMENTSBoE Interest Rate Decision and Asset Purchase Target (12:00)New Car Registrations (09:30)FINAL DIVIDEND PAYMENT DATEJPMorgan Emerging Markets Inv TrustFriday November 05INTERIMSCarphone Warehouse Group, Toyota Motor Corp.INTERIM DIVIDEND PAYMENT DATEAtlantic Global, Bodycote, Derwent London, Dillistone Group, Fiberweb, Forth Ports, Huntsworth, Hydrogen Group, Judges Scientific, Matrix Income & Growth 4 VCT, Mears Group, Motivcom, Nationwide Accident Repair Services, Northbridge Industrial Services, S & U, UK Select Trust Ltd., Weir GroupQUARTERLY PAYMENT DATEInvestors Capital Trust 'A' SharesINTERNATIONAL ECONOMIC ANNOUNCEMENTSRetail Sales (EU) (10:00)Factory Orders (GER) (11:00)Non-Farm Payrolls (US) (13:30)Private Sector Payrolls (US) (13:30)Unemployment Rate (US) (13:30)Pending Homes Sales (US) (15:00)Consumer Credit (US) (20:00)Q2Toyota Motor Corp.Q3Commerzbank AG, ReneSola Ltd. (DI), Smith & NephewGMSRockhopper ExplorationANNUAL REPORTFeedbackIMSSAer Lingus Group, Biome Technologies, Dechra Pharmaceuticals, HSBC Holdings, Phoenix Group Holdings (DI), Royal Bank of Scotland Group, Unite GroupAGMSDechra Pharmaceuticals, Galliford Try, Real Estate Credit Investments Ltd.TRADING ANNOUNCEMENTSCarphone Warehouse Group, Rentokil InitialUK ECONOMIC ANNOUNCEMENTSHalifax House Price Index (09:30)Producer Price Index (09:30)FINAL DIVIDEND PAYMENT DATEFiltronic, Photo-Me International