Tuesday preview: UK inflation and US retail sales figures released

13th Jan 2014 14:46

Investors will turn their focus to reports out on UK inflation and US retail sales on Tuesday following a quiet start to the week.The UK consumer price index (CPI) for December is expected to have risen 2.1% year-on-year, in line with the prior month, according to the consensus forecast. That comes at a time when at least some market observers are increasingly watching against the risk of even lower inflation readings in the Eurozone and the US. In that regard, for now at least the UK has a greater 'cushion,' economists at Sharecast suggest.Later in the day US data on retail sales is anticipated to show a gain of 0.1% month-on-month in December, following an increase of 0.7% in November. Policymakers are closely watching economic data to gauge the health of the world's biggest economy ahead of the Federal Reserve's policy meeting at the end of the month.The central bank began winding back asset purchases by $10bn a month to $75bn in December and said it would continue to taper provided the US continues to show steady recovery.In company news tomorrow, Ashmore will unveil its results for the second quarter while Asos, Barratt Developments and Balfour Beatty release trading updates. Numis expects Ashmore to post assets under management (AuM) of $79.9bn and has issued a 'hold' rating for the stock, according to a note issued to investors on Monday."Given the modest short to medium-term outlook for earnings per share (EPS) growth (mainly driven by margin compression), we think the shares are fairly valued, rather than cheap. We view Ashmore as a core long-term holding, but one which we believe offers only fair value today," the broker added. Stateside, JP Morgan and Wells Fargo are due to publish their latest quarterly numbers. Tuesday January 14thINTERIMSIdeagen, IG Group HoldingsINTERNATIONAL ECONOMIC ANNOUNCEMENTSBusiness Inventories (US) (13:30)Import and Export Price Indexes (US) (13:30)Industrial Production (EU) (10:00)Manufacturing Inventories (US) (15:00)Retail Sales (US) (13:45)Retail Sales Inventories (US) (15:15)Speech President US Federal Reserve bank of PhilaldephiaSpeech President US Federal Reserve bank of DallasIMSSBig Yellow Group, Carr's Milling IndustriesAGMSBaring Emerging Europe, Carr's Milling Industries, European Investment Trust, Frutarom Industries Ltd GDR (Reg S), Spirit Pub CompanyTRADING ANNOUNCEMENTSBarratt Developments, Countrywide, Dragon Oil, Michael Page International, SABMillerUK ECONOMIC ANNOUNCEMENTSConsumer Price Index (09:30)Producer Price Index (09:30)Retail Price Index (09:30)RD