Aside from the supermarket, there is a smattering of economic data to close off a heavy week of stats with the UK trade in goods numbers as well as US industrial production, manufacturing, and consumer sentiment.
Tesco in focus amid Booker acquisition and Sainsbury's, Asda merger
Equity traders will have all eyes on food retail giant Tesco as it is set to deliver a trading update.
Investors will be focused on how its latest addition – wholesaler Booker – has settled in.
The UK’s largest supermarket group – soon to be second largest if the merger of J Sainsbury plc (LON:SBRY) and Asda goes ahead – completed the Booker acquisition in March and analysts are expecting it to boost Tesco’s top and bottom lines this year.
Focus will also undoubtedly be on sales in its core UK grocery business which generates the lion’s share of profits, with Deutsche Bank expecting 1.6% growth in like-for-like UK sales – a slight slowdown from the 2.3% achieved in the final quarter of last year.
Keep your eyes peeled too for any commentary on the recent decision to shut down the non-food Tesco Direct website.
Significant announcements expected:
Friday June 15:
Economic data: UK trade in goods; US industrial production; US Empire State manufacturing survey; US University of Michigan consumer sentiment reading