Friday preview: UK retail sales data, Workspace interims

UK retail sales data on Friday is expected to show a 3.5% rise in December compared to the same month a year ago.

The last report from the Office for National Statistics revealed a 3.9% increase in November. If analysts’ projections for December are correct, it would mark a slowdown in sales as consumers perhaps tightened their spending over Christmas.

On a month-on-month comparison, retail sales are forecast to fall 0.3% in December following a 1.7% gain in November when the Black Friday discounts were held.

“It was a Black Friday Barnstormer in November, with sales volumes including and excluding fuel both rising by 1.7% month-on-month,” said HSBC.

“Although we might expect a fall back against this backdrop, we are actually looking for another small increase, as was the case in December 2014. The Cyber Monday sales will be counted in the December period, and a further drop in the price of fuel – plus the holiday season – should support further volume growth.”

Elsewhere, US existing home sales figures will be released on Friday. Analysts estimate sales rose 9.2% in December from a month ago, following a 10.5% plunge.

Markit also releases a batch of manufacturing purchasing mangers’ index figures on the Eurozone and the US.

In corporate earnings, real estate investment trust Workspace releases its interims. Numis analyst Robert Duncan said the company has had an “active third quarter”, with planning consent secured at Hoxton and Stratford, disposals of four industrial properties, and two acquisitions in Wood Green and Surrey Quays.

“In terms of operations, we allow for 8% rental growth through the second half of 2016; current market conditions remain supportive of this assumption and while there is no direct comp to Workspace, recent rental evidence in Shoreditch from DLN and HLCL suggest upside risk to our numbers.”

Friday 22 January

INTERIM DIVIDEND PAYMENT DATE
Berkeley Group Holdings (The), Bonmarche Holdings, Burberry Group, Dixons Carphone , Fulcrum Utility Services Ltd. (DI), Gateley (Holdings) , Greene King, Halfords Group, Micro Focus International, United Carpets Group, Vertu Motors

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Existing Home Sales (US) (15:00)
Leading Indicators (US) (15:00)
PMI Construction (GER) (08:55)

ANNUAL REPORT
Titon Holdings

IMSS
Workspace Group

SPECIAL DIVIDEND PAYMENT DATE
M Winkworth, Marwyn Value Investors Limited

AGMS
Character Group, Tracsis

TRADING ANNOUNCEMENTS
Close Brothers Group, Computacenter, Oxford Instruments, Record, Workspace Group

UK ECONOMIC ANNOUNCEMENTS
Internet Retail Sales (09:30)
Public Sector Finances (09:30)
Retail Sales (09:30)

FINAL DIVIDEND PAYMENT DATE
Debenhams, Inland Homes, Scottish Oriental Smaller Companies Trust