Wednesday preview: Next in line to update on Christmas

Blacks Leisure was the first retailer to update on Christmas trading, posting a strong rise in like-for-like sales in its outdoor stores; a trading statement from fashion group Next will give another indication of the health of the UK High Street.Aside from the rise in VAT to 20% from 17.5% that has just come into effect, an issue for Next is higher raw material costs. Next said in November that it will raise its prices by 8% early this year due to soaring cotton prices.Wednesday FINALS William Sinclair TRADING ANNOUNCEMENTS Next IMS Domino's Pizza UK & Irl UK ECONOMIC ANNOUNCEMENTS PMI Construction (09:30) INTERNATIONAL ECONOMIC ANNOUNCEMENTS PMI Composite (GER) (08:55) PMI Services (GER) (08:55) PMI Composite (EU) (09:00) PMI Services (EU) (09:00) MBA Mortgage Applications (US) (12:00) ISM Non-Manufacturing (US) (15:00) ISM Services (US) (15:00) Crude Oil Inventories (US) (15:30) FOMC Interest Rate Minutes (US) (19:00)