Monday 7 June
-Final estimate for Japanese Q1 GDP growth
-German factory orders
Tuesday 8 June
-US NFIB Small Business Optimism Index
According to 2019 data from the US Census Bureau, small businesses represent 99% of all American firms and account for 70% of American jobs so small companies can give a good guide to how the US economy is doing, said AJ Bell investment director Russ Mould.
The NFIB Small Business Optimism index rose in April to 99.8. However, 44% of small businesses said they were struggling to find staff, the highest figure since the survey began in the mid-1970s.
April’s figure is well below 2018’s peak signalling that US small companies, unlike the bulls of US equity, think we’re experiencing an upturn but not a boom, Mould said.
-Chinese inflation data
AJ Bell financial analyst Danni Hewson said China’s inflation figures fuelled the inflation flames last month as they surprised on the upside with a consumer price index reading of 0.9% and a producer price index increase of 6.8%. Markets are on the look-out for signs of inflation according to Hewson, explaining why small caps and cyclicals have outperformed growth and quality areas such as technology over the past few months.
-Full-year results from Intermediate Capital, VP and Oxford Instruments
-First-half results from Paragon Banking
-Trading statement from British American Tobacco
-US trade figures
-US Job Openings and Labour Turnover Survey (JOLTS)
Wednesday 9 June
-Full-year results from GB Group
-First-half results from SSP Group
SSP, which operates catering outlets such as Ritazza and Upper Crust as well as concessions for Burger King and Starbucks at airports and railway stations around the world, were badly hit as sales nosedived during the pandemic, according to Hargreaves Lansdown senior investments and markets analyst Susannah Streeter.
It radically cut costs by furloughing 22 thousand staff and raising £475m through a rights issue to shore up its finances.
-Monetary policy decision from Bank of Canada
-US oil inventories data
-First-quarter results from Inditex
-In the US, quarterly results from Jack Daniel’s and Finlandia distiller Brown-Forman
Thursday 10 June
-US inflation data
Just like China, US inflation figures came in higher than expected in April with the consumer price index increasing 4.2% year-on-year, the fastest gain in more than a decade, and producer prices surged by 6.2%. While this may be a result of the low base caused by the pandemic and early pent-up demand post lockdowns, sustained inflation could force central banks to tighten monetary policy.
-Halma full-year results
Halma’s hazard detection and life protection systems give it a pricing power that has meant it has delivered 41 consecutive dividend increases of 5% or more and analysts’ are forecasting it will deliver its 42nd with a full-year-pay-out of 17.32p per share, an increase of 5% on the distribution for the year to March 2019.
The consensus sales forecast is £1.3bn which is pretty much flat, while the organic rate of progress was -11% on a constant-currency basis at the first-half stage although analysts are expecting improved momentum in the second half.
At the first half, operating return on sales was 20.6%. In terms of pre-tax profit, management guided to flat for the year just ended, an improvement from its prior estimate of down 5%. This would mean a figure of £267m on an adjusted basis.
-First-half results from Chemring
-Auto Trader full-year results
-Monetary policy decision from the European Central Bank
-US weekly unemployment claims figure
-In the US, quarterly results from Chewy
Friday 11 June
-Full-year results from Naked Wine
-Chinese tangible fixed asset, industrial production and retail sales figures
