Wednesday preview: Investors await outlook statement from JD Sports

Following a detailed second-quarter trading update on 22 August, there is unlikely to be any surprises in the first-half figures. So the key focus for investors will be on the outlook statement as we head into the key festive trading period for retailers.

In a research note last month, analyst Clive Black from Shore Capital said he hoped for sequential earnings growth in the third quarter and beyond, following a 2.4% increase in like-for-like sales in the second quarter despite ongoing market challenges this year.

"If JD can combine that sequential commercial and earnings progress with firmer foundations around guidance, capability, and visibility, then we can foresee quite substantial scope for rating expansion and share price appreciation," Black said on 16 September.

JD Sports' shares have surged by nearly 20% since its last trading update to levels not seen since early January, just before the stock plunged following a profit warning, which was the result of heavy discounting and mild weather last Christmas.

On the economic data calendar, the main event will be the ADP US employment report due out at 1315 BST, which is expected to show a 120,000 increase in private payrolls in September, up from 99,000 in August.

Wednesday October 02

INTERIMS

Pinewood Tech, JD Sports Fashion, Inspiration Hlt

INTERIM DIVIDEND PAYMENT DATE

CLS Holdings, Genuit Group

FINAL DIVIDEND PAYMENT DATE

Cohort

QUARTERLY EX-DIVIDEND DATE

Schroder European Real Estate Investment Trust

INTERIM EX-DIVIDEND DATE

Schroder European Real Estate Investment Trust

UK ECONOMIC ANNOUNCEMENTS

BRC Shop Price Index (0001)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Unemployment Rate (EU) (1000), MBA Mortgage Applications (US) (1200), ADP Employment Change (US) (1315), Crude Oil Inventories (US) (1530)

GMS

Calnex Solutions

AGMS

Henderson Smaller Companies Trust, Ct Global Growth, Ct Global Inc