Wednesday preview: China CPI, Computacenter in the spotlight

The focus in financial markets in the middle of the week will shift back towards Asia, where official statistics for consumer and factory prices are due out.

Software & Computer Services

2,631.86

17:14 20/12/24

-0.73%

-19.47

Brexit negotiations and the tech slump in the States won't be far from investors' minds however.

Also in the US, the Department of Labor will release its JOLTS labour market survey referencing the month of August.

It will be published alongside readings on unemployment in Ireland and Switzerland.

On home shores, the only data due out are the Recruitment and Employment Confederation's Staff Salaries and Placements Indices for August.

Tuesday's market spotlight will fall on Computacenter as the IT services provider releases its first half results, close on the heels of two guidance upgrades since July.

UBS's Michael Briest attributed the most recent of those, on 2 September, to revenue upside and declining costs related to company travel and entertainment.

The latter typically amounted to £5-6m a month but was now running almost at zero.

Yet he conceded that he had not revised his own estimate for full-year 2020 earnings before interest and taxes of £139m since May. Analysts consensus before Computacenter's last update on 2 September had been at £151m.

Briest explained that he had harboured concern about weaker demand post mobility restrictions "which have clearly not manifested themselves".

"The sustainability of these profit levels into 2021 and beyond is now a key question given lower travel expenses have played a part, but if a healthy managed service contract pipeline delivers new wins it will certainly help offset any impact from higher travel expenses next year."

Wednesday 09 September

INTERIMS

Anpario, Aquis Exchange , Computacenter, EMIS Group, Inspired Energy, Sanne Group, Tullow Oil

QUARTERLY PAYMENT DATE

Unilever

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

MBA Mortgage Applications (US) (12:00)

GMS

PV Crystalox Solar

FINALS

Frontier Developments

ANNUAL REPORT