By Alexander Bueso
Date: Friday 19 Jul 2024
LONDON (ShareCast) - (Sharecast News) - The market spotlight at the end of the week will be on the UK consumer.
Overnight, consultancy GfK will release the results of its closely followed consumer confidence survey for July.
It will be followed at 0700 BST by retail sales figures out of the Office for National Statistics covering the month of June.
German wholesale prices for June meanwhile are due out at 0600 BST.
Burberry will publish an update on is first quarter 2025 sales on Friday.
Investors' attention will be focused on the luxury fashion retailer's Chinese clients' demand following the 12% decline in sales seen in the fourth quarter of 2024, said Zuzanna Pusz at UBS.
Also in focus would be its guidance, especially as trends had not improved and analysts' expectations were for profits to be weighted towards the back half of the year.
Pusz had pencilled in £46m of profit in the first six months of the year followed by £242m in the last six months.
"Our reverse [discounted cash flow] valuation suggests the market is no longer pricing in a success of Burberry's turnaround, with [mid-single digit] sales growth."
Friday 19 July
INTERIMS
Capricorn Energy
INTERIM DIVIDEND PAYMENT DATE
AVI Global Trust , Gulf Keystone Petroleum Ltd Com Shs (DI), Impax Asset Management Group, RWS Holdings
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Current Account (EU) (09:00)
Producer Price Index (GER) (07:00)
ANNUAL REPORT
MS International
AGMS
Kistos Holdings, Personal Assets Trust
TRADING ANNOUNCEMENTS
Hargreaves Lansdown
UK ECONOMIC ANNOUNCEMENTS
GFK Consumer Confidence (00:01)
Public Sector Net Borrowing (07:00)
Retail Sales (07:00)
FINAL DIVIDEND PAYMENT DATE
Animalcare Group, Bank of Georgia Group, Facilities by ADF, Flowtech Fluidpower, ICG Enterprise Trust, Ingenta, Maven Income & Growth VCT, National Grid, Pharos Energy , RS Group, Science Group , TBC Bank Group, Touchstar
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