7.25 am: Green for go
It’s all about respect, baby. Bloomberg has said, citing an unnamed Beijing official, that if the US can drop the invective, the Chinese are ready to engage in positive conversations that could prevent a trade war. Wouldn’t that be nice?
So, the markets are currently guardedly optimistic at the prospect, with Asia’s main bourses in positive territory
In the UK, London is set to open 68.2 points higher at 8,251.5 for a 7.7% gain over the last five trading days. Year-to-date, the UK’s top stocks index is now at parity.
Looking ahead, we have updates fom Sainsbury ’s (LON:SBRY) and Deliveroo (LON:ROO), along with what is likely to be a tense shareholder meeting for BP (LON:BP)’s management.
5 am: What to watch on Thursday
After Tesco (LON:TSCO) ’got out the knuckledusters’, as analyst said, with its results and a warning that it is prepared to see profits fall this year amid a heightening of competition in the market, it is time for J Sainsbury PLC (LSE:SBRY) to have its say on Thursday…read more
Deliveroo PLC (LSE:ROO) last month confirmed two major milestones — its first-ever net profit and positive free cash flow — but shares are little moved since. Some analysts reckon the market has got it wrong…read more
The BP PLC (LSE:NYSE:BP.) annual shareholders’ meeting could be a tense one, with both the company and activist investor Elliott Management having been preparing for a potential battle…read more
Later on, the European Central Bank will unveil its latest policy decision in the early afternoon, with a rate cut expected as US tariffs threaten to drag the bloc into a recession.
In the evening, after the US markets have closed, there will be earnings from Netflix (NASDAQ:NFLX), which will act as a prelude to the first of the so-called Magnificent Seven, which begin to post their earnings from next week.
Announcements due on 17 April:
Trading updates: Deliveroo, Dunelm Group (LON:DNLM), Ninety One, Rentokil Initial (LON:RTO)
Finals: J Sainsbury
Overseas earnings: American Express (NYSE:AXP), Blackstone (NYSE:BX), DR Horton, Marsh & McLennan, TSMC, UnitedHealth (NYSE:UNH) Group (all premarket), Netflix (post-market)
AGM: BP
Economic announcements: ECB Rate Decision (EU), Building Permits, Housing Starts, Initial Jobless Claims, Philadelphia Fed Manufacturing Index (all US)
Ex-dividends to reduce FTSE 100 by: 7.65 points (BAE Systems (LON:BAES), Rolls-Royce (LON:RR) Holdings, London Stock Exchange Group (LON:LSEG), Unite Group (LON:UTG), Fresnillo (LON:FRES), Antofagasta (LON:ANTO), Weir (LON:WEIR), Convatec)
