Monday 10 January
-Full-year results from Inland Homes
-In Asia, trading updates from TSMC and UMC
Tuesday 11 January
-Robert Walters trading update
AJ Bell investment director Russ Mould and financial analyst Danni Hewson said that in its December update, recruitment specialist Robert Walters did not provide a specific profit number, but management noted that profit before tax was “expected to be comfortably ahead of market expectations”.
“Should management revisit this guidance, the consensus analysts’ forecast for 2021 pre-tax income is £48m against £15m in 2020 and £51m in 2019.”
-Full-year results from ShoeZone
-First-half results from Games Workshop
-Trading updates from B&M European Value Retail and Electrocomponents
-BRC retail sales monitor in the UK
-US NFIB smaller companies sentiment survey
Wednesday 12 January
-Chinese inflation data
Mould and Hewson noted producer price inflation (PPI) in China reached 12.9% year-on-year, which did at least represent a slight slowdown from the 26-year higher of 13.5% seen in October. Consumer price inflation (CPI), meanwhile, was 2.3%. “That may not seem high by many countries’ standards right now, but it was still the fastest rate of increase since summer 2020.”
“China has targeted a 3% CPI inflation rate for 2021 as the ruling Communist Party looks to prompt growth and employment on one hand while not letting property and stock market speculation get out of hand on the other. This could yet be a difficult balancing act, especially as the Evergrande property group continues to totter and the Producer Price Index figure suggests there are more price increases in the pipeline.”
-Page Group trading update
Mould and Hewson noted recruitment specialist Page Group’s chief financial officer Kelvin Stagg noted in a December update that full-year operating profit was now expected to reach £165m against £17m in 2020 and £147m in 2019.
-Trading updates from JD Sports Fashion, Sainsbury, Whitbread, Vimto-maker Nichols, DFS Furniture and house builder Vistry
-In Europe, a trading update from Just Eat Takeaway.com
-US oil inventories
-Federal Reserve ‘Beige Book’ economic commentary (first of eight editions in 2022)
-In the US, quarterly results from house builder Lennar
Thursday 13 January
-US inflation data
In November US CPI accelerated to 6.8%, the highest mark since 1982 and the ninth straight reading ahead of the Federal Reserve’s 2% target.
-M&S Christmas trading update
Mould and Hewson said: “[M&S] shares are up by almost 80% over the past 12 months and the Christmas and third-quarter trading update could provide fresh insight into what Britain’s shoppers are thinking and doing, how the High Street is faring and how the long-planned turnaround at M&S under chair Archie Norman and chief executive Steve Rowe is developing.”
They said analysts will first look to the overall group sales growth figure, before turning their attention to individual operations and how online sales are faring relative to revenues from stores, as well as insight on how M&S’s link-up with Ocado for food delivery continues to fare.
-Trading updates from Tesco, Persimmon, Taylor Wimpey, Dunelm, ASOS, Wood Group and Halfords
-Weekly US unemployment claims
-In Japan, quarterly results from Uniqlo-owner Fast Retailing
-In Asia, quarterly results from TSMC
Friday 14 January
-Trading statements from Experian and Currys
-UK industrial and manufacturing output
-UK monthly GDP growth data
-US retail sales figures
-US industrial production and capacity utilisation rate
-US business inventory figures
-In the US, quarterly results from JP Morgan Chase, Wells Fargo, Blackrock and Citigroup
