Chancellor Philip Hammond is going to deliver his first Spring Budget on Wednesday. Meanwhile the ECB is meeting on Thursday on their next monetary policy moves.
Fund Strategy looks at some key events shaping the week and what to expect.
Monday 6 March
- Medium-Term Oil Market Report 2017
Tuesday 7 March
- British Retail Consortium Retail Sales Monitor
- EU National Account Statistics (GDP) – Q4 2016
- House of Lords – Article 50 Bill
- OECD Consumer Price Indices
- US Consumer credit data
Wednesday 8 March
- Phillip Hammond reveals this year’s Spring Budget
- OBR economic and fiscal outlook
- Japan GDP – Q4 (final)
- Legal & General Group results
Thursday 9 March
- Aviva (Q4 results)
The Share Centre investment research analyst Graham Spooner says: “At the last interim update we saw the company making good progress with its restructuring plans and the Friends Life business was being integrated well. The underlying performance of the group has also been encouraging and it is expected to report good growth in operating profits and solvency ratios.
“However the uncertain political environment made business for firms such as Aviva more challenging. Investors will therefore be interested in the outlook from management given the threat to passporting rights due to Brexit and the impact from the recent change to personal injury damage awards.”
- Governing Council of the European Central Bank: monetary policy meeting in Frankfurt
- Wm Morrison Supermarkets (Q4 results)
“Can the improvement in performance continue and for how long?” asks Spooner.
He says: “The firm’s trading update in January reported its best Christmas trading period for seven years. This encouraging performance was achieved by the group improving products on offer, continuing to be competitive and a better customer experience. The recently introduced automated ordering system has also been viewed as a success.
“The shares outperformed in 2016, as a result of the ongoing recovery in sales and this has pushed the rating higher than its rivals. Competition concerns are not going to go away and the management initiatives will take time to execute, however the company has built up some momentum and this trend could have further to run.”
Friday 10 March
- NIESR Monthly GDP Estimates
- The Employment Situation – US statistical release
- UK Index of Production
- UK Output in the Construction Industry – statistics
- UK Overseas Trade and Statistics
- UK Trade – statistics