Friday preview: NATO leaders’ summit, IAG in focus


Investors’ attention at the end of the week will be fully trained on the invasion of Ukraine and its fallout both in terms of it possibly ensnaring neighbouring countries and the sanctions which are likely to follow and whatever implications they might carry.

Key in that regard will be a summit of NATO heads of state and government, where the alliance’s members are expected to coordinate their response to Moscow.

Against that backdrop, and heading into the weekend and months’ end, a raft of key US economic reports are due out, including for personal income and spending, durable goods orders and consumer confidence.

In the UK, consultancy GfK will publish the results of its consumer confidence survey for February.

Across the Channel meanwhile, investors will be waiting on euro area money supply data for January and the results of surveys on consumer and industrial confidence in February.

For IAG‘s fourth quarter, UBS analyst Jarrod Castle has penciled-in a recovery in traffic to 56% of their year earlier level, which was up from 43% over the three months to September.

That was expected to result in fourth quarter revenues of €3.5bn (consensus: €3.8bn) and a loss before interest and tax of -€306m.

The latter would mark a sharp reduction from the approximately -€4.2bn of red ink one year before.

Nonetheless, its earnings presentation would now take place against an uncertain backdrop for commodity prices in the wake of Russia’s invasion of Ukraine, so the focus would likely be on what mitigating measures might be possible.

Friday 25 February

INTERIMS

European Opportunities Trust

INTERIM DIVIDEND PAYMENT DATE

Downing One VCT , Totally

QUARTERLY PAYMENT DATE

Greencoat Renewables (CDI), Primary Health Properties, Supermarket Income Reit

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Import Price Index (GER) (07:00)

M3 Money Supply (EU) (09:00)

Pending Homes Sales (US) (15:00)

Personal Consumption Expenditures (US) (13:30)

Personal Income (US) (13:30)

Personal Spending (US) (13:30)

U. of Michigan Confidence (US) (15:00)

FINALS

Evraz, Jupiter Fund Management , Pearson, Rightmove, Societatea Nationala De Gaze Naturale Romgaz S.A. GDR (Reg S)

ANNUAL REPORT

Evraz

SPECIAL DIVIDEND PAYMENT DATE

Games Workshop Group

EGMS

Glanbia (CDI), Ruffer Investment Company Ltd Red PTG Pref Shares

AGMS

Caledonian Trust, GRIT Investment Trust, On The Beach Group

FINAL DIVIDEND PAYMENT DATE

Gooch & Housego, Nexus Infrastructure , RWS Holdings, Watkin Jones

FINAL EX-DIVIDEND DATE

Newcastle 12 5/8% Perm Int Bearing Shs #1000