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Pin to quick picksAB Foods Share News (ABF)

Share Price Information for AB Foods (ABF)

London Stock Exchange
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Share Price: 2,711.00
Bid: 2,703.00
Ask: 2,704.00
Change: -8.00 (-0.29%)
Spread: 1.00 (0.037%)
Open: 2,715.00
High: 2,715.00
Low: 2,687.00
Prev. Close: 2,719.00
ABF Live PriceLast checked at -

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Tuesday preview: US mid-term elections, Associated British Foods in focus

Mon, 07th Nov 2022 12:08

(Sharecast News) - All eyes on Tuesday were expected to be on the results of the US mid-term elections and whether or not they resulted in legislative gridlock on Capitol Hill.

In particular, analysts believed that if Republicans took control of both chambers of Congress, the US House of Representatives and the Senate, then that would stymie any Democratic efforts to approve further fiscal support.

That, so the thinking went, would also imply less policy tightening by the US central bank, all else equal.

Nonetheless, while the majority of state elections in 2020 were called by news outlets on election night, several states including Arizona, Nevada and Pennsylvania, took between 4 and 9 days to be called.

Those three states were now considered by some observers to be key for deciding control of the Senate.

As regards economic reports, the sole US indicator due out was the National Federation of Independent Businesses' survey of small business optimism at 1100 GMT.

Across the Channel meanwhile, at 1000 GMT, Eurostat was scheduled to release euro area retail sales figures covering the month of September.

No major economic releases were scheduled in the UK.

Over in Japan, overnight readings were expected for real household spending and nominal/real wages per worker in September.

On the corporate side of things, Associated British Foods was scheduled to post full-year 2022 fiscal year earnings.

As Michael Hewson, chief market analyst at CMC Markets UK noted, the company's shares had been on the slide over the course of 2022 despite strong profit and sales growth year-to-date.

In September, the company did warn that profits would fall during the next year, on account of rising input costs, which were expected to hit its operating margins, at its Primark business in particular.

Net cash had also declined, although its grocery, sugar and agriculture businesses were all expected to see topline growth.

Tuesday 08 November

INTERIMS

Argentex Group , Aveva Group, DCC (CDI), Marks Electrical Group, Marks Electrical Group, Oxford Instruments, Warehouse Reit, Zoo Digital Group

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Balance of Trade (GER) (07:00)

Current Account (GER) (07:00)

Retail Sales (GER) (10:00)

FINALS

Associated British Foods, Beximco Pharmaceuticals Ltd. GDR

ANNUAL REPORT

Associated British Foods

AGMS

DG Innovate, DG Innovate, Frontier Developments, Pensana

TRADING ANNOUNCEMENTS

Coca-Cola HBC AG (CDI), Persimmon

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