Barratt Developments, Dr Martens, Experian (LSE:EXPN) and Severn Trent are the big names in London's diary for Thursday, while US inflation will continue to hold the market's attention, with the publication of the producer price index, along with the first earnings from the major Wall Street banks.
After US consumer prices surprised on the upside, sending stocks lower, Thursday's June PPI readings could continue the trend of weaker factory gate readings since a peak in March of 11.5%.
PPI has remained high but has been edging lower, today expected to be below 11%, while core PPI has also been trending lower from 9.6% in March to 8.3% in May and is expected to fall again to 8.2%. Final demand PPI is expected to fall to 10.7%.
Experian, which has a foot on both sides of the Atlantic, is set to release its first-quarter results on Thursday, which will be its first full quarter encompassing the consumer inflation crisis in the key markets.
The consumer credit reporting group is resilient but "not immune to a recession", according to Barclays.
(Read the full Experian preview here)
A year-end update from housebuilder Barratt Developments PLC (LSE:BDEV) (Barratt Developments PLC (LSE:BDEV)) follows FTSE 350 rivals Berkeley, Persimmon and Vistry in recent weeks, with its shares down 40% in the year to date.
Analysts at looking for an adjusted pre-tax profit of £884mln against £812mln the year before.
Given the end of the stamp duty tax holiday, the end of Help to Buy in March 2023 after ten years, higher interest rates, elevated input costs and slowing house price growth amid sagging consumer confidence, “it will be interesting to see how upbeat chief executive David Thomas and chief financial officer Mike Scott feel they can be”, said analysts at AJ Bell.
Dividends are one of the main attractions for the sector, with Barratt’s the third best among its major peers, but there is not likely to leave any comment on dividends until the full-year results in early September, though comments on the sector outlook will be key.
Thursday 14 July
Finals: DSW Capital PLC (AIM:DSW) (DSW Capital PLC (AIM:DSW))
Interims: Ashmore Group (LSE:ASHM) (Ashmore Group (LSE:ASHM)) PLC, Barratt Developments PLC, Dr Martens PLC (LSE:DOCS) (Dr Martens PLC (LSE:DOCS)), Experian PLC, Hays PLC (LSE:HAS) (Hays PLC (LSE:HAS)), Severn Trent PLC (LSE:SVT) (Severn Trent PLC (LSE:SVT))
Trading updates: Galliford Try PLC, Rio Tinto PLC (LSE:RIO) (Rio Tinto PLC (LSE:RIO))
FTSE 100 index ex-dividend adjustments: 0.17 (Halma)
AGMs: BT Group PLC (LSE:BT.A) (BT Group PLC (LSE:BT.A)), Dr Martens PLC, Falcon Oil & Gas Ltd (Falcon Oil & Gas Ltd (AIM:FOG, TSX-V:FO), Falcon Oil & Gas Ltd (AIM:FOG, TSX-V:FO)), Great Western Mining Corp, Helical (LSE:HLCL) (Helical (LSE:HLCL)) PLC, Mind Gym Limited PLC, Randall & Quilter Investment Holdings Ltd, Renewi PLC (LSE:RWI) (Renewi PLC (LSE:RWI)), RS Group PLC (LSE:RS1) (RS Group PLC (LSE:RS1)), Templeton Emerging Markets Investment Trust PLC (LSE:TEM) (Templeton Emerging Markets Investment Trust PLC (LSE:TEM)), Vietnam Enterprise Investments (LSE:VEIL) (Vietnam Enterprise Investments (LSE:VEIL)) Ltd
Economic announcements: Continuing Claims (US), Initial Jobless Claims (US), Producer Price Index (US), RICS Housing Market Survey (UK)