CORPORATE data due out this week could help to steer the market, particularly with regards to retailer and consumer stocks, while investors in Independent News & Media will be hoping for an update on the future of the ailing publisher at its annual meeting on Wednesday.
Today’s 17-week trading statement from JD Sports Fashion is expected to be more positive than the company’s 9-week statement, which was impacted by February’s heavy snows. The period since will have benefited from some warmer weather and any positive surprises will be welcome news for the whole sector.
AG Barr also issues a statement today.
Tomorrow will see yet more focus on the consumer, with the British Retail Consortium’s retail sales monitor for May due out, as well as the Royal Institution of Chartered Surveyors’ House Prices Balance data. Manpower will also give its outlook for third quarter employment.
On the corporate front, IG Group’s trading update will be watched closely for an update on its two more mature markets, the UK and Australia, which have been experiencing particularly challenging conditions. Analysts at UBS expect these conditions will have improved given the market rallies seen over March and April.
Car and bike parts retailers Halfords is expected to prove its resilience when it reports its full-year results on Wednesday. Charles Stanley analysts said that they will be focused on gross margins, outlook comments and strategy update.
Management is expected to give guidance on future expansion plans for the UK store network and shed further light on the decision to terminate trials of stand alone cycle stores.
Also on Wednesday are the annual meetings of Mecom, Independent News & Media, Antofagasta, Eurasian Natural Resources and London & Associated Properties.
Home Retail Group will release results for the 13 week period to 30 May on Thursday. Consensus for Argos is like-for-like sales down by 4 per cent, with Homebase expected to report flat sales and gross margins predicted to be lower for both.