Week ahead: Fed policy announcement eyed
By Michele Maatouk
Date: Friday 05 Dec 2025
(Sharecast News) - The main highlight next week will be the Federal Reserve's latest policy announcement on Wednesday.
Danske Bank expects the Fed to cut its policy rate target by 25 basis points to 3.50-3.75%, in line with consensus and market pricing.
"We expect an equal reduction to all administered rates, but an additional 5bp cut to the IORB rate is not off the table," it said.
"The Fed could also follow up on its October decision to end QT by announcing the start of organic balance sheet expansion in 2026, which would ease USD liquidity conditions further.
"We expect Powell to verbally push back against continuation of sequential rate cuts in early 2026. Updated dots will likely signal a range of views for 2026 rates outlook, but we expect median long-range dot to remain at 3.00-3.25%."
On the corporate front, British American Tobacco is due to release a full-year pre-close trading update on Tuesday.
Derren Nathan, head of equity research at Hargreaves Lansdown, said that at the last check, it was heading to the top of its 1-2% revenue growth guidance range, helped by an improving performance in its US business.
"Consensus forecasts are expecting a slightly better growth outcome at 2.1% before currency movements," he said.
"There's still some way to go for BATS to return to its medium-term target of 3-5% growth. Tobacco volumes remain in decline, and next-generation products such as vapes are not proving to be the saviour the industry was looking for. Investors will be hoping for an improvement from the low-single-digit growth uplift seen by the New Categories division in the first half.
"The balance sheet has also been under some pressure. It's important that net debt is brought down to fit more comfortably into the group's 2.0-2.5x underlying cash profit (EBITDA) target range. Especially if regular share buybacks are to be supported."
Tuesday also sees the release of full-year results from Chemring, half-year results from Moonpig and second-quarter numbers from equipment rental firm Ashtead.
On Wednesday, housebuilder Berkeley Group will release half-year results, while travel company Tui will publish its full-year results.
As far as Tui is concerned, HL equity analyst Aarin Chiekrie said the company has already managed to paint a bright picture ahead of next week's full-year results, thanks to last month's upbeat trading statement.
"The group managed to beat full-year profit expectations, despite some weakness on the top line. Record performances across Hotels & Resorts and Cruise businesses pushed underlying operating profit up 12.6% to €1.5 billion, beating its 9-11% guidance," he said.
"Investors will be closely watching the new shareholder return strategy, with markets anticipating the return of dividend payments in the new year. There'll also be plenty of attention on how 2026 is shaping up, especially given the growing economic headwinds in TUI's main markets, with sustained progress in Germany particularly important for sentiment."
On Friday, investors will watch out for UK GDP figures for October.
Michael Hewson at MCH Market Insights noted that over the last few months, the economy has undergone a sharp slowdown in economic activity.
"While the resumption of operations in JLR ought to provide a pickup in October the economy as a whole has shown little signs of vigour ahead of the budget last month," he said.
"October GDP is unlikely to be an improvement with the services sector also joining the malaise if recent PMI data is any sort of accurate guide, and the uncertainty provided by speculation over the November budget causing businesses to sit on their hands, until the maelstrom of noise surrounding the event has subsided."
Monday December 08
INTERIMS
SDCL Efficiency Income Trust
INTERIM DIVIDEND PAYMENT DATE
Maruwa Co Ltd.
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Industrial Production (GER) (07:00)
GMS
Bezant Resources, Bigblu Broadband
AGMS
aberdeen Asia Focus, Amedeo Air Four Plus Limited Red Ord NPV
FINAL DIVIDEND PAYMENT DATE
Ashmore Group
Tuesday December 09
INTERIMS
Begbies Traynor Group, Moonpig Group , Naked Wines
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Trade (GER) (07:00)
Q2
Ashtead Group
FINALS
Diales Group, Ixico, Oxford Metrics
EGMS
MHP SE GDR (Reg S)
AGMS
Asiamet Resources Limited (DI) , CQS Natural Resources Growth and Income , Ikigai Ventures Limited Npv, Mila Resources, Sareum Holdings
UK ECONOMIC ANNOUNCEMENTS
Retail Sales (00:01)
FINAL DIVIDEND PAYMENT DATE
Fidelity Emerging Markets Limited Ptg NPV, YouGov
Wednesday December 10
INTERIMS
Cohort, Redcentric
INTERIM DIVIDEND PAYMENT DATE
BlackRock Smaller Companies Trust, Cavendish
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Price Index (US) (13:30)
Crude Oil Inventories (US) (15:30)
MBA Mortgage Applications (US) (12:00)
Wholesale Inventories (USD) (15:00)
GMS
Virgin Wines UK
FINALS
Fevara
AGMS
Abingdon Health , Ashoka India Equity Investment Trust, Baillie Gifford Japan Trust, BATM Advanced Communications Ltd., Gattaca, Marwyn Value Investors Limited, Virgin Wines UK, Volution Group
FINAL EX-DIVIDEND DATE
Aeci 5 1/2% Prf
Thursday December 11
INTERIM EX-DIVIDEND DATE
Baltic Classifieds Group, Caffyns, Celebrus Technologies, Cranswick, Discoverie Group, DSW Capital, Fuller Smith & Turner, Halfords Group, Mercia Asset Management, NewRiver REIT, Sirius Real Estate Ltd., Speedy Hire, TR Property Inv Trust, Vertu Motors, Zigup
QUARTERLY PAYMENT DATE
Brunner Inv Trust
QUARTERLY EX-DIVIDEND DATE
Patria Private Equity Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Continuing Claims (US) (13:30)
Current Account (GER) (13:30)
Initial Jobless Claims (US) (13:30)
Producer Price Index (US) (13:30)
GMS
Capital Limited (DI)
FINALS
RWS Holdings, TwentyFour Select Monthly Income Fund Limited
AGMS
Bluefield Solar Income Fund Limited, DotDigital Group, Fairview International, Fidelity Special Values, R8 Capital Investments, Tristel
FINAL DIVIDEND PAYMENT DATE
Fidelity Asian Values, Springfield Properties
FINAL EX-DIVIDEND DATE
Associated British Foods, Investec, NewRiver REIT
Friday December 12
INTERIM DIVIDEND PAYMENT DATE
Airtel Africa , B&M European Value Retail S.A. (DI), C&C Group (CDI), Card Factory, CML Microsystems, DCC (CDI), Investec, Kainos Group , Motorpoint Group, Scottish Mortgage Inv Trust
QUARTERLY PAYMENT DATE
BlackRock American Income Trust, Greencoat Renewables (CDI), Premier Miton Global Renewables Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Price Index (GER) (07:00)
SPECIAL DIVIDEND PAYMENT DATE
Lancashire Holdings Limited
AGMS
Thor Explorations Ltd (DI), Ultimate Products , Westmount Energy Ltd.
UK ECONOMIC ANNOUNCEMENTS
Balance of Trade (07:00)
Gross Domestic Product (07:00)
Index of Services (07:00)
Industrial Production (07:00)
Manufacturing Production (07:00)
FINAL DIVIDEND PAYMENT DATE
Gattaca, James Halstead, New Star Investment Trust, SThree
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