Thursday 8 December 2016

Tesco interim results to be keenly watched

Published 03/10/2016 | 02:30

Tesco will release interim results on Wednesday. Photo: PA
Tesco will release interim results on Wednesday. Photo: PA

It's relatively quiet this week on the results front in Ireland and Britain and the big focus will be the road to next week's Budget.

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But British retailer Tesco will release interim results on Wednesday.

They'll be keenly watched for evidence that the embattled grocer is growing its domestic share.

Analyst Clive Black at Shore Capital recently retained his 'hold' recommendation for Tesco shares, citing the increasing competition the retailer is facing in Ireland.

Listed home builder Abbey will hold its annual general meeting on Friday.

Executive chairman Charles Gallagher will update shareholders on the company's progress, including any Brexit impact in the UK, and how the market is faring in Ireland.

On Thursday, the Irish Association of Pension Funds will hold a conference in Dublin. It will be addressed by Minister for Social Protection Leo Varadkar.

On the statistics side, there's plenty of data from the CSO this week.

Tomorrow, it releases September's unemployment figures.

On Wednesday, we'll get a look at provisional industrial production and turnover data for August, as well as the services index for August.

On Thursday, the CSO will publish the National Income and Expenditure annual results for 2015, and on Friday it will detail the number of vehicles that were licensed for the first time during September.

Further afield, the Eurozone Markit Manufacturing PMI for September is out today. Services PMI figures are out on Wednesday.

Also on Wednesday, Federal Reserve member Charles Evans will give a speech that will be closely analysed.

On Thursday, the ECB Policy Meeting accounts will be published. They give an overview of financial market, economic and monetary developments.

Other crucial numbers out this week include non-farm payroll data in the United States, published on Friday. They were up 151,000 in August, which was less than the 180,000 that analysts had been expecting and below July's 275,000.

For September, the consensus increase is expected to be 176,000.

Irish Independent

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