Monday 5 October
– Service industry PMIs from Asia, Europe, UK and US
– Halifax House Price Index
Tuesday 6 October
– Trading update from iron ore miner Ferrexpo
– Interest rate decision from the Reserve Bank of Australia
– UK retail sales figures
– UK construction industry purchasing managers’ index (PMI)
– German factory orders data
Wednesday 7 October
– Tesco first-half results
This will be investors’ and analysts’ first real chance to hear from new chief executive Ken Murphy, said AJ Bell investment director Russ Mould, after Dave Lewis stepped down on 30 September after six years at the helm.
“Tesco’s market share is almost 27% according to consultants Kantar Worldpanel but investors might be surprised to learn the shares are actually down by around 10% over the past year,” said Mould.
He said analysts will look at like-for-like sales growth in Q2 and H1 overall, as well as headline pre-tax profits and the dividend.
The Share Centre said: “There has been a significant rise in online sales as a result of the pandemic, along with added costs which are forecast to be in the region of £840m. Despite having some defensive characteristics, the share price remains close to a year low, operating as it does in a crowded marketplace.”
– First-half results from Vertu Motors
– Halifax UK house price index
– US oil inventory data
Thursday 8 October
– Imperial Brands full-year trading update
Like Tesco, Imperial Brands also has a recently-ensconced CEO who shareholders will be keen to hear from in Stefan Bomhard. The CEO however takes over after a torrid 12 months for the tobacco giant in which it issued two profit warnings, scrapped the long-term dividend growth target and cut its dividend for the first time since 1996.
“Investors will be looking for affirmation of the guidance given by the temporary leadership team of Dominic Brisby and Joerg Biebernick alongside May’s first-half results, which lived down to the lowered expectations set at February’s annual general meeting.”
The Share Centre said: “The one glimmer of good news for the company recently has been the €1.2bn sale of its premium cigar business, with the proceeds used to reduce debt. Imperial said previously that it expected to see a bigger impact from the Covid pandemic in the second half so any update on that will be of interest.”
– Robert Walters third-quarter trading update
Mould also picked out the Q3 trading update from FTSE 250 recruitment firm as one to watch for its potential insight into how the jobs market is developing in its target countries.
“In Q2, on a constant currency basis, Europe, the UK, Asia and the rest of the world were all down by more than 30% year-on-year,” he said. “It will be interesting to see if Asia in particular has seen any pick-up in trading, as the region went into lockdown first and came out first too.”
– First-half trading update from Electrocomponents
– US weekly unemployment claims data
– In the US, quarterly results from Delta Air Lines
– RICS Housing Market Survey
Friday 9 October
– UK GDP update
– Trading statement from FTSE 100 bookmaker GVC
– UK construction, manufacturing and industrial output data
