Few surprises expected on Super Thursday

The City is bracing itself for Super Thursday, while modest losses keep the FTSE 100 in the red.

Canary Wharf
Source: Bloomberg

Last quarter’s Super Thursday was not that super and it is difficult to see where the shock and awe will come from this time round.

City traders will have to digest a plethora of data in quick succession, with a rate decision, policy minutes and the inflation report all followed by a speech from Mark Carney. We might see another member vote for change but other than a 7-2 result it would be hard to see any change being viewed as anything other than forced.

AstraZeneca might have been able to offer a little optimism with its raised expectations for full-year revenue and earnings, but Randgold Resources has struggled with precious metal prices remaining weak, triggering a 17.5% fall in quarterly profits.

Ever since Deutsche Bank suspended dividend payments investors have been debating who might be next; French banks Credit Agricole and Société Générale have done little to clear up the confusion with the inverse market reaction to the two banks’ figures negating any sense of direction for the sector as a whole.

Facebook remains the guiding light for all social media enterprises who are struggling with the monetisation of their subscribers, having smashed expectations last night.

With its quarterly revenue up by more than 40% this was enough to trigger a buying frenzy in after-hours trading, with the shares hitting an all-time high as a result.

Ahead of the open we expect the Dow Jones to start 6 points higher, at 17,873.

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