Week ahead: Data and results set to keep UK investors busy as PMIs and supermarket results come thick and fast

Billy Bambrough
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Sainsburys Announce Rise In Sales For First Quarter
Investors will be hoping Sainsbury's is able to restore confidence in the retail industry after the disappointment of BHS and Austin Reed (Source: Getty)

First quarter earnings season as well as a constant flow of economic data is set to keep investors busy all this week.

The FTSE is coming off the back of a disappointing session after it closed down 80.51 points at 6241.89 on Friday following underwhelming results from some of the UK’s top banks.

This week that could continue with HSBC this morning revealing how it performed in what’s widely regarded as one of the worst quarters for banks since the financial crisis.

Read more: The FTSE 100 just hit a 2016 high

Emerging market focused Aberdeen Asset Management will also post its first quarter interim results this morning and is expected to have been further buffeted by the slow down in China and other developing markets.

Supermarkets will be the big draw of the week however following the high street woe brought on recently by BHS and Austin Reed.

Investors will be hoping that Sainsbury’s can restore some confidence in the sector when it posts its final results tomorrow.

The big four grocer’s third quarter trading update to 9 January was upbeat and showed good trading over Christmas. However it has warned like for-like sales are expected to be better in the second half than the first.

Revenues are expected to fall one per cent to £23.5bn, while adjusted earnings are set to slide 8.8 per cent to £1.24bn.

Rival Morrisons will post a trading update on Thursday.

Read more: Smaller firms fail to plug hole in the FTSE

Thursday also brings the full year results for former state-owned telecoms giant BT.

The group scored better-than-expected numbers in its last quarter, though the share price has lost 10 per cent of its value in the last two months.

In economic news UK purchasing managers indices for manufacturing, construction, and services will come out today, tomorrow, and Thursday respectively.

Economists are warning we’re likely to see a further deceleration in growth as warnings over the prospect of the UK leaving the European Union peak ahead of the vote next month.

Other company reports to look out for are oil firm Royal Dutch Shell’s first quarter numbers and tobacco group Imperial Brands half year results tomorrow.

Rounding off the week is InterContinental Hotels with a first quarter trading update on Friday.

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