Tuesday preview: US retail sales, Kingfisher in focus

16th Sep 2024 16:20

(Sharecast News) - Investors' focus on Tuesday will be on the latest industrial production and retail sales numbers out of the US.

The Department of Commerce will release the reports at 1315 BST and 1230 BST, respectively.

Later, at 1700 BST, the US Treasury will hold an auction of 20-year debt.

In the euro area, the main data point of the session will the ZEW institute's gauge of economic confidence in Germany covering the month of September that is due out at 0900 BST.

No major economic releases are scheduled in the UK.

On the corporate side of things, Kingfisher is among the names due to release results.

Investors' focus will be on the company's first half like-for-like sales, full-year guidance for profit before tax and what management had to say about current trading conditions, UBS analyst Antonio Tabet said.

Consensus is for a drop in LFL sales of 2.8% in the second quarter with half-year profit before tax seen at £283m, and full-year profit at £509m.

Tabet attributed the recent increase in the shares' forward price-to-earnings multiple from 9.5, at the time of the company's full-year 2024 results, to 12.1 times at present to the BoE's rate cuts and government proposals to build 1.5m new homes over the next five years. The latter compared to the 1.05m built over the preceding five years.

Tuesday 17 September

FINALS

Ferguson Enterprises Inc. (DI), Litigation Capital Management Limited (DI), Springfield Properties, Target Healthcare Reit Ltd

INTERIMS

Kingfisher, EJF Investments Ltd NPV, Diaceutics, THG, JTC, Northcoders Group, DP Poland, Franchise Brands, Good Energy Group, GCP Asset Backed Income Fund Limited, Jadestone Energy, Learning Technologies Group, Team17 Group, Kooth, EKF Diagnostics Holdings, Warpaint London, Dillistone Group

Fintel, Trufin, Next 15 Group, Billington Holdings, Litigation Capital Management Limited (DI), Henry Boot

Headlam Group

Q4

Ferguson Enterprises Inc. (DI)

AGMs

B90 Holdings NPV, Inspiration Healthcare Group, Sure Ventures

ANNUAL REPORT

Springfield Properties, Target Healthcare Reit Ltd

FINAL DIVIDEND PAYMENT DATE

Monks Inv Trust, Renold

INTERIM DIVIDEND PAYMENT DATE

Fresnillo

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

ZEW Survey (GER) - Economic Sentiment (10:00)

ZEW Survey (GER) - Current Situation (10:00)

ZEW Survey (EU) - Economic Sentiment (10:00)

Retail Sales (US) (13:30)

Industrial Production (US) (14:15)

Capacity Utilisation (US) (14:15)

Business Inventories (US) (15:00)