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The Markets
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
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The Markets
by Proactive
Proactive UK has moved.
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Archive

Tesco, Bellway, Halma, TSMC, Inditex and the UK spending review - the week ahead

Grocery giant Tesco and mid-cap housebuilder Bellway and 'dividend aristocrat' Halma take centre stage in a quieter week for UK corporate news, with all facing investor scrutiny over pricing pressure and market conditions.

Results are also due from names including FirstGroup and Revolution Beauty.

On Wednesday, Rachel Reeves will unveil the government's spending review, covering its investment plans for the next three years.

Overseas financials to note include computer chip giant Taiwan Semiconductor Manufacturing Company, Spain's Inditex and US digital acrobat Adobe.

Key economic data includes UK unemployment and inflation in the US, China and Germany elsewhere in the week's financial diary.

Monday 9 June

Overseas earnings: Casey’s General Stores

Economic announcements: Inflation (CHN)

Tuesday 10 June

An update from housebuilder Bellway PLC (LSE:BWY) comes amidst an uncertain housing market, though analysts highlight falling interest rates and supporting government policy on building regulations...read more

Announcements due:

Trading updates: Bellway

Interims: Diales Group, Porvair, Safestore

Finals: FirstGroup, GB Group, Oxford Instruments, Vianet Group

Overseas earnings: Oracle, JM Smucker, Taiwan Semiconductor Manufacturing Company

Economic announcements: BRC Retail Sales Monitor (UK), Unemployment (UK), NFIB Business Optimism (US), Redbook (US)

Wednesday 11 June

Results are scheduled from Revolution Beauty Group PLC (AIM:REVB), though it has launched a formal sale process after received a preliminary bid from an unnamed company, days after revealing talks with banks over funding.

The Chancellor of the Exchequer will also announce the government's spending review, where increases in spending for the NHS and defence are expected, while making cuts to other budgets, including benefits.

Risk on the day may be that the 'bond vigilantes' emerge if they do not like what they hear, analysts warned.

Announcements due:

Interims: Ramsdens, TwentyFour Select Monthly Income Fund

Finals: Fuller Smith & Turner, Molten Ventures, Revolution Beauty Group, VP

Overseas earnings: Chewy, Inditex

Economic announcements: CPI Inflation (US)

Thursday 12 June

A first-quarter trading statement from Tesco PLC (LSE:TSCO) comes after the grocery giant warned that increased competition is likely to hit profits this year. The question is whether this update will show any signs of this...read more

Elsewhere, there will be full-year numbers from Halma PLC (LSE:HLMA), which said these results would represent its 22nd consecutive year of record adjusted profit, with adjusted EBIT margin expected to be "modestly above 21%" and "good" organic revenue growth.

Announcements due:

Trading updates: Tesco

Interims: Benchmark Holdings, Crest Nicholson, IDOX

Finals: Halma, Mind Gym, Motorpoint, Norcros, Paypoint

Overseas earnings: Adobe, Kroger

Economic announcements: RICS Housing Market Survey (UK), Balance of Trade (UK), GDP (UK), Index of Services (UK), Industrial Production (UK), PPI (US), Jobless Claims (US)

FTSE 100 ex-dividends reduce index by: 1.23 points (Land Sec, JD Sports, Intermediate Capital, Scottish Mortgage)

Friday 13 June

Announcements due:

Economic announcements: Balance of Trade (EU), Industrial Production (EU), Inflation (GER), Michigan Consumer Sentiment (US), Baker Hughes Oil Rig Count (US)

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