Tuesday preview: US-China trade, Ocado in focus
The spotlight on Tuesday may well end up being on China's response to America's decision to levy a 10% tariff on $200bn-worth of the Asian giant's goods exports.
Food & Drug Retailers
4,460.72
16:29 27/12/24
FTSE 100
8,149.78
16:54 27/12/24
FTSE 350
4,495.62
16:29 27/12/24
FTSE All-Share
4,453.14
17:05 27/12/24
Ocado Group
303.70p
16:40 27/12/24
In particular, markets will watch for whether Beijing simply retaliates in-kind or whether it also snubs the US's invitation to hold trade talks.
The European Union's General Affairs Council, which is set to meet to analyse the result of the discussions around Britain's Withdrawal and the framework for relations with it after Brexit, will also be in focus.
Overnight meanwhile, the Reserve Bank of Australia is due to publish the minutes of its last policy meeting.
Investors will also be keeping an eye out for the result of the Hungarian central bank's policy meeting.
Data-wise, the calendar was rather light, with only the US NAHB's housing market index for September and the US Treasury's report on long-term capital flows in July set for release.
Over in the corporate space, the focus was likely to be on Ocado's third quarter trading update, with analysts at Peel Hunt telling clients that they would focus on any new advances in the company's technology platform, as well as any advances on its deals with Casino, Sobeys, ICA or Kroger.
"Ocado's interims presentation was all about technology. The vastly reduced talk about food was conspicuous. It now truly is a technology business," they explained to clients.
Over at Numis meanwhile, analyst Andy Wade was expecting the trends observed throughout the second quarter in retail to carry through into third quarter with growth of 11.0%.
"The shares have had an outstanding run, reflecting recognition of the value in the Solutions division, the earnings runway afforded by the recently signed deals, and the validation of the OSP concept," Wade said.
"We believe that Ocado has developed the leading global solution for online grocery delivery, and see more to go for."
Tuesday September 18
INTERIMS
Augean, Bango, Be Heard Group, Cloudcall Group, DP Poland, Faroe Petroleum, Frontier Smart Technologies Group Limited, Hydrogen Group, JTC, Judges Scientific, Keywords Studios, NAHL Group, Personal Group Holdings, Smart Metering Systems, VR Education Holdings
INTERIM DIVIDEND PAYMENT DATE
4Imprint Group, London Stock Exchange Group
FINALS
AEW UK Long Lease Reit , Eagle Eye Solutions Group, GRC International Group, Green Reit, Haydale Graphene Industries, Purecircle Limited (DI), Springfield Properties
AGMS
Accsys Technologies, Elderstreet Draper Esprit VCT, Great Eastern Energy Corp Ltd. GDR, HML Holdings, MediaZest, Northgate, Real Estate Credit Investments Ltd, Van Elle Holdings
TRADING ANNOUNCEMENTS
Northgate, Ocado Group