Weekly outlook: non-farm payrolls in the United States; B&M and Pennon annual results
Monday May 31
-Indices of Chinese purchasing managers for manufacturing and service industries
Tuesday June 1
– Gooch & Housego first semester results
-Manufacturing of purchasing managers index (PMI) of Asia, Europe, United Kingdom and United States
– EU inflation figures
-In Europe, quarterly results of Rocket Internet
-In the United States, quarterly results of Zoom Video Communications and HPE
Wednesday June 2
-Annual results of Wizz Air and Bloomsbury Publishing
-Data on UK mortgages
-Data on the growth of the money supply in the United Kingdom
-Monthly car sales figures in the United States
-Last economic study of the beige book of the US Federal Reserve
-In the United States, Splunk quarterly results
Thursday June 3
-Annual results of B&M European Value Retail
Shares of B&M European Value Retail have risen by around 60% over the past year, topping the FTSE 100, “in recognition of the way the company has kept Britain fed and watered through the multiple cycles of foreclosure we’ve all been through, ”according to AJ Bell, chief investment officer, Russ Mold.
The March trade statement found that sales, margins and profits were all higher than expected. As a result, analysts are now forecasting sales of £ 4.7bn, a 24% increase over the previous year and pre-tax profit of £ 469m, up from £ 252m in the year. previous.
For the year to March 2022, analysts are forecasting broadly flat sales of £ 4.7bn and pre-tax profit declining to £ 376m as the lockdowns ease. For the coming year, analysts expect a regular dividend of 16 pence per share.
-Pennon annual results
Pennon shares haven’t done much in the past year and are down slightly from last July, when waste management firm Viridor was sold for £ 3.7bn. sterling in cash.
It offered an interim dividend of 6.77 bps per share and analysts expect a final payment for the year ended in March of 15.23 pence for a total payout of 22 pence per share, compared to 43.77 pence last year. However, Pennon aims to increase its dividend by the HICP inflation rate plus 2% throughout the K7 2020-2025 regulatory cycle.
On an underlying basis, revenue, profit before tax and earnings per share are expected to be down in line with its half-year results where sales were down 2%, profit before tax down 15%. % and earnings per share down 11%.
-Results of the first semester of Chemring
-Indices of purchasing managers in the service industry (PMI) of Asia, Europe, United Kingdom and United States
-Weekly data on the US oil inventory
-Us weekly unemployment claims
-In Europe, quarterly results of Rémy Cointreau
-In the United States, quarterly results from Broadcom, Lululemon, Campbell’s Soup and JM Smucker
Friday June 4
-U.S. Non-farm payrolls
Along with the Challenger, Gray and Christmas survey of job losses and the ADP survey released on Thursday, June 3, economists will look at the US job market as an indicator of US economic dynamics.
According to financial analyst AJ Danni Hewson, the non-farm payroll for the last month was lower than expected as it showed the addition of 266,000 jobs over the expected million. The deficit is attributed to a labor shortage, although the official U3 unemployment rate is 6.1% and the U6 rate is 10.4%, suggesting that the government’s stimulus checks and l employment assistance has been so generous that workers are tempted to stay at home.
The result of the labor shortage could be wage growth. The average monthly salary last month was $ 30.17, a fraction more than the year before. Hewson said, “If wages are really starting to turn, then maybe inflation is coming to us, after almost 40 years of rather dormant sleep.”
– US factory order data