THE WEEK AHEAD in association with GFT
COMPANIES
● Today, Ocado releases its half-year results. Its share price suffered last week on the back of JP Morgan Cazenove cutting its rating and the news that Waitrose is gearing up to compete with it directly in London.
● Tomorrow, Daisy will deliver its preliminary earnings release. The company sells internet and telecommunications services. Daisy is growing fast: last week it announced plans to take on an extra 700 staff, which would bring its total to 2,000.
● On Wednesday, Betfair will release its prelims. The Hammersmith based company is the world’s largest internet betting exchange.
ECONOMICS
● Today, Nationwide Building Society releases its monthly report on UK house price inflation. HBOS will release its housing report on Friday.
● Tomorrow, German CPI will be released. A high reading should push the euro up in the expectation of another rate rise. On the same day, Mervyn King and a few other MPC members will testify on inflation and the economic outlook before parliament’s Treasury Committee.
● On Thursday, the US releases its weekly unemployment claims. Although a lagging indicator, many still turn to it to gauge the health of the economy.
POLITICS
● Tomorrow, the Greek government votes on whether to pass austerity measures. There are serious doubts that the tough measures will be supported. Jean-Claude Juncker, head of the Euro Group insists there is “no plan B”. In that case he will need a plan C.
● On Thursday, unions will strike over plans to change their pensions. Less than 20 per cent of PCS members actually voted to support it.
● Also on Thursday, quantitative easing ends in the US. Expect the postponed creative destruction to kick in, which will put pressure on Bernanke to do something – perhaps QE3.