Company news flow eases off in the first week of April leaving the stage clear for the Bank of England’s interest rate decision and the US non-farm payrolls data to dominate proceedings.
Not that anyone is expecting any fireworks from the Bank of England’s Monetary Policy Committee which, barring an unparalleled mass change of heart by its members, will keep the central bank’s reference lending rate at its all-time low of 0.25%.
There is an outside chance of a change to the bank’s asset purchase policy, but the smart money is on the size of the quantitative easing pot remaining at £375bn.
Economics tipsters have a tougher task on their hands predicting March’s US employment figures. In February, US non-farm payrolls rose by 236,000; the market is going for another increase, albeit a smaller one of 190,000, for March.
On the company news front, Thursday is, as usual, scheduled to be the busiest day, and there is a bit of a foodie theme, with sausage casings maker Cranswick and pizza delivery firm Domino's Pizza reporting.
Peel Hunt is expecting a positive update from Cranswick (LON:CWK) "as the company is benefiting from the consumer shift from processed food and fears over horsemeat, as well as from significant new contracts from Asda and M&S."
"We expect double digit sales growth in Q4 and FY sales growth of 7.6%," the broker revealed.
Peel Hunt recently lifted its target price for Cranswick to £10 from 900p to reflect the expected improved trading performance.
On Wednesday, engineering support services titan Babcock International (LON:BAB) issues a pre-close trading statement, where the focus will be on the order book.
"At the time of the last IMS in January, the order book stood at £12.0bn vs. £12.5bn at the time of H1 results in November, with the bid pipeline moving from £13.0bn to £14.0bn during the same period," notes Panmure Gordon.
"The movement in the bid pipeline was driven by the Support Services division particularly within Rail (re-bids) and further work with the BBC. Elsewhere we would expect to see solid trading patterns within Marine and Defence & Security. International was also said to be performing well with good demand levels seen for equipment and plant hire. However, Rand weakness was expected to 'limit' the progress for the division this year," the broker added.
Though the City firm only rates the shares a 'hold', it is expecting a confident update.
Announcements expected
01 Easter Monday
Companies: None
Macroeconomic: US construction
02 Tuesday
Companies: Lo-Q (AGM)
Macroeconomic: UK consumer credit, UK M4 money supply, UK mortgage approvals, UK PMI manufacturing, UK trends in lending, German consumer prices, US factory orders, German PMI manufacturing, EU PMI manufacturing, EU unemployment
03 Wednesday
Companies: Babcock International, Beacon Hill Resources (AGM), Obtala Resources (AGM)
Macroeconomic: UK BRC shop price index, UK PMI construction, EU consumer prices, US crude oil inventories, EU harmonised index of consumer prices,
The following widely held stocks will go ex-dividend on Wednesday: Dragon Oil, F&C Asset Management, Foreign & Colonial Investment Trust, Hammerson, Interserve, Pearson, RSA, Standard Life, DS Smith, Wolseley
04 Thursday
Companies: Booker Group, Amec, Cranswick, Domino’s Pizza Group, Scottish American Investment Company
Macroeconomic: Bank of England interest rate decision, UK PMI composite & services, US continuing jobless claims, US first-time jobless claims, EU PMI composite, EU PMI services, EU producer prices
05 Friday
Companies: None
Macroeconomic: US trade, US consumer credit, EU GDP, US non-farm payrolls, German PMI construction, EU retail sales, US unemployment, UK new car registrations