Weekly outlook: UK unemployment, job vacancies and wages data; Ashtead reports

10 September 2021

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Portfolio Adviser

Monday 13 September

-Full-year results from Henry Boot

-First-half results from Abcam and bid-target Anexo

-Trading statement from Primark-owner Associated British Foods

-Monthly US Federal budget deficit data

-In the US, quarterly results from Oracle

Tuesday 14 September

-UK unemployment, job vacancies and wages data

AJ Bell said The latest UK jobs, unemployment, employment, job vacancy and wage growth figures will make particularly interesting reading in light of ever-more anecdotal evidence of labour shortages across a range of sectors and the Confederation of British Industries’ warning that these shortages could persist for two years.

“The issue seems to be a skills and qualifications mismatch in many industries, from engineering to HGV driving to chefs and hence the call from the CBI and others to add more industries to the government’s shortage occupations list which permits overseas workers to gain visas so they can work in the UK.”

-First-half results from JD Sports, Chemring, MJ Gleeson, Harworth, Portmeirion and another bid-target, Sanne

-Trading update from Ocado

-Chinese producer price (factory gate) inflation

-US consumer price inflation

-US NFIB smaller companies business confidence indicator

Wednesday 15 September

-Full-year results from house builder Redrow

-First-half results from Fevertree Drinks, Tullow Oil and Trustpilot

-Chinese monthly growth figures for tangible fixed asset investment, retail sales and industrial production

-US industrial production and capacity utilisation data

-US oil inventories

-In Europe, a trading update from retailer H&M

Thursday 16 September

-Ashtead first quarter trading update

Shares in equipment hire company Ashtead are still on a phenomenal run, said AJ Bell. Despite the pandemic and global downturn, the share price stands at a new all-time high

“Ashtead gets around 90% of its sales from its American Sunbelt operation, with the bulk of the rest coming from the A-Plant business in the UK. Perhaps one of the reasons that the shares have done so well is hopes that the US economy will keep humming along, buoyed by monetary stimulus from the US Federal Reserve and more fiscal stimulus from Congress – even if the latter is still log-jammed on Capitol Hill in Washington and at risk of being blocked by two Democratic Senators.”

-US retail sales figures

-Full-year results from construction play Kier and Clinigen

-First-half results from The Hut Group, Wickes and Hilton Food

-US weekly unemployment claims