Tuesday preview: Chinese foreign trade data, Ferguson in the spotlight

(Sharecast News) - The focus in financial markets on Tuesday will be on the People´s Republic of China where foreign trade figures for November are due out.


Nevertheless, the above may pale in importance in comparison to the outcome of a videocoference between US President Joe Biden and Russian President Vladimir Putin to try and keep the Minsk peace agreements on the rails and defuse tensions on the border with Ukraine.

Consensus is for a dip in the country's trade surplus, from roughly $84.5bn for October to $82.1bn in November. However, economists at Barclays Research are forecasting a reading of $100bn, thanks to still strong export growth of approximately 25% year-on-year, against a consensus forecast for a slowdown from 27.1% to 18.9%.

No major economic releases are scheduled in the UK.

Across the Channel meanwhile, German industrial production data for October are due out at 0700 GMT, alongside a reading on the ZEW institute´s closely-followed economic confidence gauge for December at 1000 GMT.

Data on US non-farm labour productivity and labour costs in the third quarter and for foreign trade in October will all be published at 1330 GMT.

For Ferguson's first quarter results, UBS analyst, Gregor Kuglitsch, has penciled-in organic sales growth of 23% with total revenues seen 24.6% higher to $6.695bn.

Earnings before interest, taxes, and amortisation meanwhile were pegged at $694m, against consensus for $639m.

That, the analyst said, implied a 1.4 percentage point increase in the plumbing and heating product distributor´s margins in comparison to the year earlier period.

For the company's second quarter, Kuglitsch was anticipating a slowdown in organic growth to 19%.

Tuesday 07 December

INTERIMS

Babcock International Group, Iomart Group, Kinovo , Mercia Asset Management, SDI Group , Solid State, Supreme , Vianet Group, W H Ireland Group

INTERIM DIVIDEND PAYMENT DATE

Hammerson

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Consumer Credit (US) (20:00)

Gross Domestic Product (EU) (10:00)

Industrial Production (GER) (07:00)

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

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

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

FINALS

CareTech Holding, Hyve Group, Ixico, Paragon Banking Group, Renew Holdings, Tritax Eurobox (GBP), Zytronic

AGMS

Amedeo Air Four Plus Limited Red Ord NPV, Applied Graphene Materials , Falanx Group Ltd, IMC Exploration Group (CDI), Schroder Japan Growth Fund, Scottish Oriental Smaller Companies Trust, YouGov

UK ECONOMIC ANNOUNCEMENTS

Halifax House Price Index (07:00)

Retail Sales (00:01)

Q1

Renalytix (Reg S)