What CAs need to know this week: 16 November 2015
A look-ahead at some of the key things happening this week.
Global markets brace for sell-off after Paris attacks
Global economic markets are bracing for a short-term sell off today (16 November), following the attacks in Paris on Friday night. Asian markets have already fallen, with Hong Kong's Han Seng index falling by 1.6% and the Nikkei 225 in Japan dropping by 1%. However, analysts said that a prolonged economic impact was unlikely and markets should recover. French markets will open as usual today, but experts warn that shares in the country's tourism sector are likely to be affected more than others.
Long-awaited HBOS report due
The long-delayed report into the collapse of HBOS will be published on Thursday (19 November). The 500-page report will outline what went wrong – and who was to blame – when the bank collapsed in 2008. HBOS was rescued by Lloyds TSB and a £20bn government bailout. The report will be published with an investigation by Andrew Green QC into the actions of the Financial Services Authority.
World leaders descend on Turkey for G20 Summit
Leaders of the world’s 20 biggest economies (the G20) are finishing their two-day meeting in Turkey today (16 November). The G20 summit is expected to be dominated by the attacks in Paris, the war in Syria and the migrant crisis. International tax co-operation, banking regulation, emerging markets and other issues facing the world’s economy will also feature in discussions.
Inflation data for UK and US in focus this week
Inflation data for both the UK and the US is due on Tuesday (17 November). UK inflation dropped back into negative territory in September (down 0.1%), but is expected to rebound slightly in October. All eyes will be on the USA’s inflation numbers, which are expected to influence the Federal Reserve’s decision of an interest rate rise next month. Consumer prices are anticipated to have increased by 0.2% for October.
Results due from Investec, easyJet, Royal Mail, Close Brothers, Caledonia Investments, Mothercare
Final results are due tomorrow (17 November) from easyJet, YouGov and Enterprise Inns. Interims are due from Majestic Wine today (16 November); Asda/Walmart and British Land Co tomorrow (17 November); Close Brothers, Caledonia Investments, Investec, Premier Foods, Mothercare, Royal Mail and Poundland on Thursday (19 November); and Nationwide on Friday (20 November). Trading updates are also expected from IFG Group, Moneysupermarket.com and Taylor Wimpey this week.
Online dating giant Match goes public in US
Match Group – owner of online dating giants Match.com, Tinder and OKCupid – is set to make an initial public offering (IPO) this week on the US Nasdaq. The company is planning to raise as much as $466.2 million and is issuing shares at $12 to $14 each. Match Group posted $1 billion in revenue this year and has 59 million monthly active users.