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

Week Ahead: Sainsbury's to update on the trolley wars

Sainsbury is likely to report continued hard times for the grocers.

Tuesday sees plumbers' merchant Wolseley reporting its full-year results, where the company is still likely to be enjoying the benefits of a growing US economy.

“Strength in the US dollar is likely to provide the numbers with a favourable tailwind, whilst further ongoing bolt-on acquisitions could be announced,” Hargreaves Lansdown reckons.

Group revenue is forecast to edge around 2% higher to £13.36 billion, while trading profit is expected to have grown by over 13% to £865 million, the broker notes.

Supermarket chain Sainsbury reports on Wednesday and few people are expecting an upbeat statement, though at least, according to the recent report from market research group Kantar, the chain was alone among the big four to not lose market share to both ALDI and Lidl recently.

On the economic front, the big number is US non-farm payrolls on Friday.

“Along with August, September’s figures have the tendency to be under-reported and so we are looking for another sub-par number of +200k, albeit perhaps with an upward revision to last month’s first estimate of +173k,” said investment house Investec.

“Unemployment though, is likely to continue to come down, we think to 5.0%,” it added.

Significant announcements expected

Monday

Final: Filtronic (LON:FTC) , Gleeson (M J) Group (LON:GLE)

Interim: Camco Clean Energy (LON:CCE), CityFibre Infrastructure Holdings (LON:CFHL), Flowgroup (LON:FLOW), Miton Group (LON:MGR), Pennon International Group (LON:PEN)

Economic: US pending home sales, UK Nationwide house prices

Tuesday

Final: Earthport (LON:EPO), James Halstead (LON:JHD), Netcall (LON:NET), Vernalis (LON:VER), Wolseley (LON:WOS)

Interim: Boohoo.com (LON:BOO) , e-Therapeutics (LON:ETX), Ergomed (LON:ERGO), Globo (LON:GBO), Outsourcery (LON:OUT), Personal Group Holdings (LON:PGH), Toumaz Holdings Ltd (LON:TMZ), Venture Life Group (LON:VLG)

Economic: US S&P Case Shiller house price survey, US consumer confidence. EU Economic confidence

Wednesday

Interim: Northbridge Industrial Services (LON:NBI), Saga (LON:SAGA), ServicePower Technologies (LON:SVR)

Trading statement: Compass Group (LON:CPG), QinetiQ Group (LON:QQ.), Sainsbury (J) (LON:SBRY), Topps Tiles (LON:TPT)

Economic: UK Gross domestic product, UK GFK consumer confidence, US ADP employment report, EU unemployment rate, EU consumer prices

Thursday

Trading statement: FirstGroup (LON:FGP)

Economic: UK CIPS manufacturing survey, US ISM manufacturing survey, US weekly jobless claims, US Markit manufacturing survey, EU Markit manufacturing survey

Friday

Economic: US non-farm payrolls, US unemployment rate, EU producer prices

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