Retailers and their prices will be a key focus of the coming week for UK investors, with updates from Sainsbury's and Currys, as well as sector price data.
The UK house prices will also be in the spotlight, while June segues into July mid-week, which will bring a new round of fresh macroeconomic data, including the all-important US jobs report, global manufacturing and services PMIs and various other numbers.
Monday 30 June
Announcements expected::
Finals: eEnergy Group
Economic announcements: Zoopla House Prices (UK), GDP (UK), M4 Money Supply (UK), Mortgage Approvals & Consumer Credit (UK), Import Price Index (GER), Retail Sales (GER), Money Supply (EU), Chicago PMI (US)
Tuesday 1 July
Grinding grocery price inflation could be the story on Tuesday, though J Sainsbury PLC (LSE:SBRY) will skirt around saying as much in its first-quarter results.
At its final results, Sainsbury’s said it had invested £1 billion into “lowering our prices”, though that was not visible in shoppers’ bills, while the group made over £1 billion of underlying profit from sales of £31.6 billion in sales.
But the sector has been raising prices for some time, as anyone who does the weekly household shop will have noticed. Supermarket price inflation was 4.7% in the past month, versus 4.1% in May and the highest since February 2024’s 5.3%, according to research by Kantar.
The BRC shop price index will also confirm food and non-food prices, with the retail trade body having been pointing out that chains are raising prices to cover higher costs from increased employers’ National Insurance contributions and minimum wages.
For the first quarter, UBS forecast sales growth of around 4% from the grocery business, while Citi's forecast is slightly lower as it expects a low-key performance from the grocer and both sets of analysts do not expect the outlook to be lifted alongside the trading update.
Announcements expected:
Trading updates: J Sainsbury’s
Interims: Kitwave Group, Wynnstay Group
Finals: Augmentum Fintech, Gateley Holdings, Mercia Asset Management, Supreme
Economic announcements: Nationwide House Price Index (UK), BRC Shop Price Index (UK), PMI Manufacturing (CHN, UK, EU, US), Inflation (EU), Unemployment Rate (GER), ISM Manufacturing (US), ISM Prices Paid (US), JOLTS Job Openings (US)
Wednesday 2 July
Announcements expected:
Trading updates: Topps Tiles
Finals: Renold
Economic announcements: Unemployment Rate (EU, US), MBA Mortgage Applications (US), Crude Oil Inventories (US), ADP Employment Change (US)
Thursday 3 July
A day earlier than their usual Friday spot, the big US non-farm payrolls report will be brought forward due to the 4th July public holiday falling on Friday this year.
Currys PLC (LSE:CURY) shares recently reached their highest level since 2021 following the company’s rejection of an opportunistic offer from activist investor Elliott last spring, with the price now trading well above the bid price.
A year-end update in May indicated that dividends will be resumed, though expectations are not super high.
Announcements expected:
Finals: Baltic Classifieds Group, Currys, Watches of Switzerland
Economic announcements: Services PMIs (CHN, UK, EU, US), Non-Farm Payrolls (US), Unemployment Rate (US), Factory Orders (US), ISM Services PMI (US), Balance of Trade (US)
Friday 4 July
A quiet end to the week, with US markets closed for Independence Day.
The corporate diary also looks quiet, while UK new car sales and construction PMI data will provide something to mull over for traders who remain awake.
There's also action that keen market watchers will be tracking over the weekend, including an OPEC+ meeting at the oil producers group's headquarters in Vienna, and the seventeenth annual BRICs summit in Rio de Janeiro.
Announcements expected:
Economic announcements: New Car Sales (UK), Construction PMI (UK), Factory Orders (GER), Producer Price Index (EU)