Wednesday preview: Barratt Developments update and US retail sales in focus

13th Jan 2015 15:28

Housing group Barratt Developments reports its half-year trading update amid signs of a cool down in the UK property market.Numis said investors are likely to focus on the company's assessment of market conditions, with particular emphasis on London where Barratt is one of the biggest developers.The broker expects Barratt to reiterate guidance for 15,000 completions in 2015, excluding joint venture, supported by a strong forward order book which stood at £1.26bn in early November 2014."Elsewhere, we will look for comments on the progression of margins, with Barratt guiding to at least 20% gross margins by 2017 (16.76% in 2014), which is key to the group attaining its target of 25% ROTCE," Numis added."We do not expect any change to the group dividend distribution policy and expect Barratt to remain nil geared going forward."On the economic calendar, US retail sales will be in focus with analysts expecting a 0.1% fall in December following a 0.7% increase a month earlier.The US also see the Federal Reserve release its Beige Book.In the Eurozone, a report on industrial production is forecast to show a 0.7% drop in November after a 0.7% gain.Wednesday 14 JanuaryINTERIMSGames Workshop Group, Tungsten CorporationINTERIM DIVIDEND PAYMENT DATEBabcock International Group, JPMorgan Euro Small Co. Trust, Juridica Investments Ltd., Royal Mail, Ventus 2 VCT, Ventus 2 VCT 'C' Shares, Ventus VCT, Ventus VCT 'C' SharesQUARTERLY EX-DIVIDEND DATEAbbott LaboratoriesINTERNATIONAL ECONOMIC ANNOUNCEMENTSBeige Book Fed Survey (US) (19:00)Business Inventories (US) (15:00)Crude Oil Inventories (US) (15:30)Import and Export Price Indexes (US) (13:30)Industrial Production (EU) (10:00)Manufacturing Inventories (US) (15:00)MBA Mortgage Applications (US) (12:00)Retail Sales (US) (13:30)Retail Sales Inventories (US) (15:00)Q4JP Morgan Chase & CoFINALSJP Morgan Chase & Co, Shoe ZoneIMSSC&C Group, Connect Group, FennerAGMSFenner, SWP GroupTRADING ANNOUNCEMENTSBurberry Group, Premier OilFINAL DIVIDEND PAYMENT DATEBellway