As Christmas approaches there is a much slimmer menu on offer for the stock market on Wednesday, though there will be inflation numbers to chew over for central bank watchers.
Expectations are not riding particularly high, with the consumer price index having fallen to a three-year low of 1.5% in October, from 1.7% in September, versus the Bank of England’s 2% target.
CPI is expected to remain at 1.5%, though some economists, such as those from RBC Capital Market, seeing it dropping to yet another three-year low of 1.4%.
If the prediction proves accurate and November brings signs of more slowdown, pressure may begin to rise on the BoE to cut interest rates.
As it stands, the consensus forecast is unanimous that the BoE will keep rates unchanged this week.
Fin pickings
On a quiet day for company news, investors in Carpetright plc (LON:CPR) also voting on whether to accept a takeover by its largest shareholder, Meditor, which has been recommended by management, while WH Smith PLC (LON:SMWH) shareholders vote on its US acquistion of Marshall Retail.
Investment platform operator IntegraFin Holdings PLC (LON:IHP) is unlikely to play the lead with its final results, even if they are stonkingly good.
The FTSE 250-listed firm, which runs Transact platform that is used by financial advisers and their clients, generally flies under the radar, even though it has risen by around two thirds since it floated last year.
IntegraFin, a rival of sorts to Hargreaves Lansdown and AJ Bell, ended its financial year with funds under direction totalling £37.8bn, up 14% on this time in 2018 and ahead 4% quarter-on-quarter, according to an update in October.
Net flows were down 9% to £891mln, with inflows shrinking 3% to £1.5bn, while positive market movements contributed to the uptick in funds under direction, generating £532mln, two-thirds as much as this time last year.
According to house broker Peel Hunt, full-year profits are set to grow 10%, thanks to “solid” net inflows and operational leverage from the technology platform.
“We remain of the view that IntegraFin is well positioned,” analysts said in a note.
“The platform continues to take market share, the overall market continues to grow, revenue margin pressure is less significant than a few years ago, and the consistent investment in technology is yielding benefits.”
Significant announcements expected for Wednesday December 18:
Finals: IntegraFin Holdings PLC (LON:IHP)
EGMs: Carpetright plc (LON:CPR), WH Smith PLC (LON:SMWH)
Economic data: UK inflation