HOUSEHOLDS are in line for a bonus this week, with news that inflation is slowing because of recent falls in oil and commodity prices.
The Consumer Price Index, due out tomorrow, is forecast to show inflation fell to 2.7 per cent in April, helped by lower petrol prices and the fact Easter occurred in April this year.
“Looking ahead, the recent marked overall drop in oil prices and commodity prices means that consumer price inflation is likely to peak around three per cent over the summer rather than around 3.5 per cent as had earlier seemed likely,” said Howard Archer, of IHS Global Insight. “It is also very possible that inflation will fall earlier and more quickly than previously anticipated.”
The week’s busy corporate calendar kicks off today with results from Cranswick, E2V Technologies, Mitie Group, BTG and ITE Group.
FirstGroup is also expected to bring its results forward, possibly revealing the figures today, as the transport group announces a rights issue and the departure of chairman Martin Gilbert.
Tomorrow Big Yellow Group, Bloomsbury Publishing, Burberry, Chamberlin, Intermediate Capital Group, JZ Capital Partners, Marks & Spencer, Telecom Plus, Vectura, Vertu Motors, Vodafone and Homeserve are all due to give final figures.
Marks & Spencer’s results are keenly anticipated after the retailer’s launch last week of its long-awaited autumn winter range.
Analysts at Panmure rated it a “buy”, saying that although its results are unlikely to encourage consensus upgrades for the 2014 full year, “the market should be careful not to underestimate the positive effect that a well-received womenswear collection could have on the company’s financial performance.”
Greencore, Paragon, Renew Holdings, Zytronic, Bwin.party, AFI Development and Darty are also due to report.
Wednesday is set to be another busy day for end-of-year figures, with news from Cable & Wireless Communications, Great Portland Estates, HICL Infrastructure, Hogg Robinson, Shaftesbury and UK Mail.
Innovation and Britvic will also give interim reports.
On Thursday Aveva, Dairy Crest, Halfords, Helical Bar, Investec, Max Property, Mothercare, PayPoint, Pennon, QinetiQ, Quintain, SABMiller, United Utilities, Booker and Electrocomponents are all due to give final figures.
Mitchells & Butlers and Wentworth Resources will also give trading reports.