| CATEGORY: COMPANY NEWS PREVIEW SECTOR: GENERAL RETAILERS |
Tuesday preview: Data may hold recovery clues |
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Mon 08 Feb 2010
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LONDON (SHARECAST) - The UK economy may have emerged from recession during the fourth quarter, but Tuesday’s retail sales and housing data are expected to reinforce doubts about the strength of the recovery.
Bad weather and less aggressive discounting by retailers in January is seen limiting the like for like rise in retail sales last month to just 0.5%.
That’s much less than the 4.2% growth the British Retail Consortium (BRC) reported for December. The year-on-year figure is seen up 3.3%, down from 6% the month before.
“The muted outlook for consumer spending underpins our belief that the economy will find it very difficult to grow by more than 1% in 2010,” says Howard Archer, chief UK economist at IHS Global Insight.
A housing market survey from the Royal Institute of Chartered Surveyors could also reveal a loss of momentum in the UK housing market at the start of this year.
Economists are looking for another slip in the balance of surveyors reporting that house prices increased over the previous three months to +28% in January, down from +30% in December and a high of +35% the month before.
On the companies front, home maintenance specialist Homeserve is expected to provide few surprises in its interim management statement.
Panmure Gordon thinks the exit from Emergency Services should be complete, with the current focus now on expanding its policy and international footprint.
Keep an eye out for any update on US partnering talks, confirmation that the second half is seasonally stronger and a possible boost from snow/flooding in the UK.
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Price Index(GER) (07:00)
Leading Indicator Index (JPN) (05:00)
Wholesales Inventories (US) (15:00)
Q3
British Land Co
Q4
Prodesse Investment Ltd., Wolfson Microelectronics
FINALS
Alphameric, Prodesse Investment Ltd., Sarantel Group 'A', Sarantel Group 'B', Sperati (Ca), Wolfson Microelectronics
EGMS
Commercial Bank of Qatar GDR (Reg S)
IMS
Homeserve
AGMS
British Portfolio Trust, Commercial Bank of Qatar GDR (Reg S), Enegi Oil, Hardide, TUI Travel, Victrex
TRADING ANNOUNCEMENTS
TUI Travel, United Drug
UK ECONOMIC ANNOUNCEMENTS
Balance of Trade (09:30)
BRC Sales Monitor (11:00)
FINAL DIVIDEND PAYMENT DATE
Asset Man Inv Trust, Dunedin Smaller Companies Inv Trust, Edinburgh Worldwide Inv Trust, SVM Global Fund
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