Tuesday preview: UK inflation, Ashtead full year results

UK inflation is expected to have improved slightly in May as oil prices recover.

The consumer price index (CPI) for May, released on Tuesday, is forecast to rise 0.4% year-on-year, up from April’s 0.3%.

Core CPI, which excludes food and energy prices, is projected to have increased by an annualised 1.3% in May following a 1.2% gain in April.

Headline inflation remains well below the Bank of England’s 2% target due to ongoing falls in energy and food prices.

According to the Quarterly Inflation Report in May, BoE Mark Carney Governor had to write his sixth consecutive open letter to Chancellor George Osborne as inflation continued to undershoot the central bank’s target.

Carney has also warned that a vote to leave the European Union at the 23 June referendum could stoke inflation as it would affect Britain’s trade agreement with the bloc.

On the company front, Ashtead reports its full year results with analysts expecting the equipment rental company to report an increase in profits.

“We forecast full year 2016 pre-tax profit of £632m, slightly ahead of consensus, and up from £490m in 2015, said Numis analyst Steve Woolf.

“We expect Ashtead Q4 results to demonstrate further market share gains relative to its US peers.”

Halma and Firstgroup also report finals on Tuesday, with Ted Baker scheduled to issue a trading statement.

Tuesday 14 June

INTERIMS
Crest Nicholson Holdings, Servoca

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Business Inventories (US) (15:00)
Crude Oil Inventories (US) (21:30)
Import and Export Price Indices (US) (13:30)
Industrial Production (EU) (10:00)
Retail Sales (US) (13:30)
Retail Sales Less Autos (US) (13:30)

Q4
Ashtead Group

FINALS
Abzena, Ashtead Group, CML Microsystems, Falkland Islands Holdings, Findel, Halma, Market Tech Holdings Limited , Norcros, Park Group, Shield Therapeutics, Trifast

SPECIAL DIVIDEND PAYMENT DATE
Gem Diamonds Ltd. (DI)

AGMS
City Merchants High Yield Trust, Dragon-Ukrainian Properties & Development, HMS Hydraulic Machines & Systems Group GDR, ICG Enterprise Trust, Inspired Energy, PJSC Novorossiysk Commercial Sea Port GDR (Reg S), Premier Farnell, Pro Global Insurance Solutions , Synairgen, Ted Baker, TP Group, Velocys plc, Walcom Group (DI)

TRADING ANNOUNCEMENTS
Ted Baker

UK ECONOMIC ANNOUNCEMENTS
Consumer Price Index (09:30)
Producer Price Index (09:30)
Retail Price Index (09:30)

FINAL DIVIDEND PAYMENT DATE
Gem Diamonds Ltd. (DI)