All eyes on Wednesday will be on the March UK consumer price report, despite the 'backward-looking' nature of inflation data.
Economists see the headline rate of CPI holding steady at up by 2.7% year-on-year, with the rate of gains in 'core' prices also unchanged at 2.7%.

And with well under a month to go until the next Monetary Policy Committee meeting, on 10 May, any undershoot in the data could easily have an out-sized reaction in markets.

Nonetheless, for now at least the prior day's acceleration in 'core' average weekly earnings from a 2.6% clip for the three months to January to 2.8% for February appears to have anchored expectations for further tightening in the near-term by the Old Lady of Threadneedle Street.

Overseas, the main release will be the US Federal Reserve's Beige Book, although traders will have to wait until after the close of trading in London to get their hands on that.

Compiled roughly two weeks ahead of each Fed policy meeting, its findings are analogous to the Bank of England's quarterly Agents's summary of business conditions.

Overnight on Tuesday, investors will also be keeping an eye out for Japanese foreign trade numbers for the month of March.

On the corporate side of things, updates are due from the likes of BHP Billiton, Jupiter Fund Management, Hunting and Purplebricks.

As regards Jupiter, analysts at Numis were expecting the fund manager to post £47.1bn of assets under management for its first quarter, albeit alongside £0.9bn of net outflows.

In a research report sent to clients on 11 April, they said: “We think that from a short-term perspective (ahead of the likely negative news flow on 18th Apr), it is probably too soon to buy Jupiter, we believe that value is emerging in the shares. We would be tempted to buy if the shares were to fall much further (all else equal), even if DB outflows were to persist, given how much weakness has already been implicitly priced in by the market.”

Wednesday April 18

INTERIM DIVIDEND PAYMENT DATE

JPMorgan Mid Cap Inv Trust

QUARTERLY PAYMENT DATE

Assura , SQN Asset Finance Income Fund Limited

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Consumer Price Index (EU) (10:00)

Crude Oil Inventories (US) (15:30)

MBA Mortgage Applications (US) (12:00)

Wholesale Price Index (GER) (07:00)

GMS

Harwood Wealth Management Group, Purplebricks Group

FINALS

Be Heard Group, GYG, Mercantile Investment Trust (The)

ANNUAL REPORT

Mercantile Investment Trust (The), Property Franchise Group

DRILLING REPORT

BHP Billiton, Hochschild Mining, Polymetal International

SPECIAL DIVIDEND PAYMENT DATE

VinaLand Ltd

SPECIAL EX-DIVIDEND DATE

Stadium Group

AGMS

88 Energy Limited (DI), Bunzl, European Assets Trust , Green Energy Technology Inc. GDR (Reg S), Harwood Wealth Management Group, Hunting, JPMorgan Claverhouse Inv Trust, Petards Group, Primary Health Properties, RTC Group, TOC Property Backed Lending Trust

TRADING ANNOUNCEMENTS

Bunzl, Chamberlin, Countryside Properties, Jupiter Fund Management , Mediclinic International , Primary Health Properties, Relx plc, SEGRO, Telford Homes

UK ECONOMIC ANNOUNCEMENTS

Consumer Price Index (09:30)

Producer Price Index (09:30)

Retail Price Index (09:30)


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