Monday 4 April
- – Full-year results from Belvoir Group
- – US factory orders
- – In Europe, a trading update from Spanish oil giant Repsol
- – In the US, a trading update from Ford
Tuesday 5 April
- – Trading statements from Moonpig and Gooch & Housego
- – Services industry purchasing managers’ indices (PMIs) from Asia, Europe, UK and US
- – Reserve Bank of Australia interest rate update
- – Japanese wage growth
Sophie Lund-Yates, equity analyst at Hargreaves Lansdown, said: “Since listing its shares for the first time at the start of February 2021, Moonpig’s shares have fallen over 47%. That’s partly because the company’s valuation was quite demanding, meaning the market had very high hopes. The group reported a strong set of half year results, and upgraded revenue targets.
“However, things are still slowing quite dramatically. That’s because lockdowns were the perfect conditions for an online card company, and that helpful tailwind is petering out. Next week it will be important to see that Moonpig is on track to reach the £283m in full year revenue that analysts are expecting, although this might be a tall order.”
She added: “The other thing to keep in mind is rising inflation. Rising costs have the ability to dent margins, but also negatively affect customer demand. As household budgets become tighter, Moonpig may find it more difficult to convince shoppers to add on lucrative extra gifts with their card orders. Things like flowers and chocolates may get rubbed off shopping lists. To that end, the outlook statement will be read very carefully.”
Wednesday 6 April
- – Full-year results from Hilton Foods
- – Trading statement from Topps Tiles
- – Analysts’ meeting at Great Portland Estates
- – UK construction industry purchasing managers’ index (PMI)
- – German factory orders
- – US oil inventories
- – In the US, quarterly results from Levi Strauss
Thursday 7 April
- – Trading statement from Robert Walters
- – German industrial production
- – UK Halifax house price index
- – EU retail sales figures
- – US weekly jobless claims
- – In the US, quarterly results from Constellation Brands
AJ Bell investment director Russ Mould and financial analyst Danni Hewson said a combination of Help to Buy “even in its more restricted format,” fiscal stimulus from the pandemic and ultra-loose monetary demand have continued to stoke demand, keeping house prices buoyant.
“The Halifax survey for February showed that the average house in the UK cost £278,123, some 10.8% higher than the prior year. That was the fastest rate of growth since June 2007, just before the great financial crisis punctured an overly bubbly housing market,” they noted.
“Politicians, central bankers, economists and investors will look to the latest figure to see if there is any sign of a cooling, especially after three interest rate increases from the Bank of England and a surge in the cost of living. A tightening of fiscal policy in the form of the 1.25% hike in national insurance contributions is also imminent.”
Friday 8 April
- – In Asia, trading updates from the world’s leading silicon chip foundries, TSMC and UMC
