Monday 12 July
-US consumer inflation expectations
-Japan producer price index
-Manufacturing and industrial production figures for Mexico, India South Africa
-Brazil business confidence readout
Tuesday 13 July
-EMIS Group H1 results
“EMIS have had a solid pandemic and will be hoping to see easier operational conditions as the NHS emerges from its fortress state,” said Steve Clayton, Manager of the HL Select Funds. “The group will be looking to begin capitalising on its recent product developments, rolling out the EMIS-X platform to more and more clinicians. With cash of over £50m in the bank, deals could be on the agenda for EMIS.”
-PepsiCo half year update
-US inflation figures
-US NFIB business optimism index
-China imports and exports
Wednesday 14 July
-Barratt Developments trading statement
Barratt upped its guidance for full year completions to between 16,00 and 16,250 homes in its last update when it revealed completions in the four months to may were up 5.7% compared to pre-pandemic levels.
“We’re keen to know whether the group is still on track to make-good on that forecast,” said Hargreaves equity analyst Laura Hoy. “If it does hit those targets, full-year completion volumes would still be roughly 9% lower than 2019 levels, so a miss would be a disappointment.”
Analysts will be looking at the group’s weekly average private reservations per active outlet for potential signals of cooling demand, Hoy said, as well as rising costs around legacy properties.
-Tullow Oil half year operations update and trading statement
-UK inflation figures
Last month the Bank of England said inflation is likely to push past 3% for a time due to “transitory” upward pressures on energy and commodities prices.
In May the consumer price index came in at 2.1% over the central bank’s 2% target thanks to rising prices for clothing, motor fuel and meals and drinks consumed out as lockdown restrictions eased. Still this was less severe than in the US where inflation rose above 5%, the highest level in 13 years.
-Eurozone industrial production
-Bank of Canada interest rate decision
Thursday 15 July
-FCA business plan and annual report and accounts
Accompanying the accounts the City watchdog’s chief executive Nikhil Rathi will set out the regulator’s role in a post-Covid, post-Brexit economy.
-UK unemployment rate
-Asos trading statement
This upcoming trading update will show to what extent easing tourism and hospitality restrictions has impacted the online retailer’s revenues.
Hargreaves Lansdown equity analyst Sophie Lund-Yates says this sales trend will be closely watched in North America which has become a core growth opportunity for Asos compared to the more mature UK market.
“Revenue in the region rose 16% at the half year despite a heavier reliance on occasion wear which fell out of favour in peak lockdown,” she said. “We wonder if things could be looking brighter, now social events are finding their way back into diaries, or if the fact people are busier will mean fewer sales overall.”
-Severn Trent Q1 update
-Experian Q1 update
-US initial jobless claims
-US manufacturing and industrial production data
Friday 16 July
-Burberry Q1 results
This will be Burberry’s first update since investors were stunned by CEO Marco Gobbetti’s surprise exit. Hargreaves senior investment and market analyst Susannah Streeter notes the “turnaround Czar” will leave the British fashion house in decent shape when he leaves at the end of the year, with its new luxury collections “resonating well” and the “all-important Asian market rebounding strongly”.
“But Mr Gobbetti will be a hard act to follow, and his replacement will be a crucial pick given that there is lingering uncertainty about how long a full recovery will take, especially as travel spending is an important stream of revenue for Burberry,” she adds.
-Bank of Japan interest rate decision
-Eurozone core inflation figures
