EWIT vote heads bank updates and likely rate hold – Daily Business

Big week: EWIT chair Jonathan Simpson-Dent

A big week lies ahead for an embattled investment trust, while the banks will be issuing their first trading updates since the outbreak of war in the Middle East.

Shareholders in Edinburgh Worldwide Investment Trust will vote again on whether to back the board or a New York hedge fund which wants to install three nominees.

Saba Capital Management, which owns about a third of the trust, last week issued an open letter to fellow shareholders in which it accused the trust’s chair of spreading misinformation.

The trust says a vote against Saba will reaffirm support for the company’s strategy, while still providing those seeking liquidity with an exit through a tender offer after the AGM.

Barclays, Lloyds and NatWest are expected to update on the impact of the Iran conflict which has raised costs across the business world.

It has also put a brake on interest rate cuts and the Bank of England’s monetary policy committee is expected to hold the borrowing rate at its meeting on Thursday.

DIARY 

Tuesday 28 April 

Full-year results from Card Factory

Trading statements from Barclays and BP

AGM NatWest

Wednesday 29 April 

Full-year results from Evoke 

Trading statements from AstraZeneca, GSK, Haleon and Lloyds 

US interest rates 

In the US, quarterly results from Alphabet, Microsoft, Amazon, Meta Platforms 

Thursday 30 April 

First-half results from Beazley 

Trading statements from Endeavour Mining and Standard Chartered 

AGM Edinburgh Worldwide Investment Trust

UK interest rates 

Eurozone CPI inflation

Eurozone interest rates

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