Full-year results: Filta Group, Netscientific, Luceco
Trading update: Renew Holdings, Watkin Jones
AGM: CVC Credit Partners European Opportunities
Economics: manufacturing PMI (UK), final manufacturing PMI (US), construction spending m/m (US), ISM manufacturing prices (US), ISM manufacturing PMI (US), final manufacturing PMI (EU), final manufacturing PMI (GER)
Tuesday April 4
British online fashion retailer Asos is expected to enjoy a strong first half, thanks to bumper demand over the Christmas period. Retail sales are expected to grow by more than 35pc to around £901m and consensus forecasts point to half-year pre-tax profits of £27.1m, up from £23.9m in the previous year.
In January, the London-listed group said it would accelerate the pace of its infrastructure investment to handle sales growth. In the four months to the end of December, Asos reported a 52pc increase in international sales to £362m, while sales in its home market rose by 18pc to £244m.
Previewing the interim results, John Stevenson, of Peel Hunt, said investors should look for “any news on future US distribution plans”.
Full-year results: Shield Therapeutics, Next Fifteen Communications Group, Panmure Gordon & Co, Central Asia Metals, Midatech Pharma, Keywords Studios
Interim results: Nanoco Group, Topps Tiles, ASOS, Utilitywise
Trading update: ITE Group
Economics: construction PMI (UK), BRC shop price index y/y (UK), trade balance (US), factory orders m/m (US), IBD/TIPP economic optimism (US), revised GDP q/q (EU), retail sales m/m (EU)
Wednesday April 5
Retirement house builder McCarthy & Stone will reiterate that it is on track for full-year delivery in line with expectations when it publishes its half-year results.
In a trading update last month, the group said trading conditions remained “stable” with sales ahead of last year. However, trading in the first half of the year will be constrained by the lower forward order book brought into the year
Half-year revenue is expected to fall year-on-year, from £250m to £238m, while the total number of completions for the same period is forecast at 866 units, down from 923 in 2016.
Investors will be keen to see management’s outlook for the remainder of the year.
Last month, UBS reiterated its “sell” rating on the stock, warning it did not see sufficient evidence in the underlying market trends or profit repair for “a more positive view on the shares”.
Full-year results: Learning Technologies Group, HSS Hire Group
Interim results: IMI, Gooch & Housego, McCarthy & Stone
Economics: services PMI (UK), ADP non-farm employment change (US), final services PMI (US), ISM non-manufacturing PMI (US), FOMC meeting minutes (US), final services PMI (EU), final services PMI (GER), retail PMI (EU)
Thursday April 6
Electrocomponents, the British distributor of Raspberry Pi, should continue to benefit from favourable foreign exchange rates, when it unveils its full-year trading update.
In the four months to January, the London-listed group’s underlying revenue growth accelerated to 6pc. The company’s regional hubs also experienced positive revenue trends in the same period, with its RS pro division and e-commerce unit enjoying revenue growth of 5pc and 6pc respectively.
Henry Carver, of Peel Hunt, said he would not be surprised if the full-year numbers come in “slightly ahead” of expectations. He added: “Macroeconomic data has been supportive and I think momentum will have continued, if not gathered pace, over the last six weeks or so.”
Investors will hope for an update on Electrocomponents’ cost initiatives and whether it managed to deliver £18m of net savings in the year to March.
Full-year results: PureTech Health, Gulf Keystone Petroleum, MP Evans Group, Zegona
Trading update: Electrocomponents, Homeserve, Findel, Mothercare, Motorpoint group
AGM: Leeds Building Society, Banco Santander
Economics: housing equity withdrawal q/q (UK), challenger job cuts y/y (US), unemployment claims (US), factory orders m/m (GER), ECB monetary policy meeting accounts (EU)
Friday April 7
Full-year results: AFI Development
Economics: Halifax HPI m/m (UK), industrial production m/m (UK), construction output m/m (UK), goods trade balance (UK), manufacturing production m/m (UK), NIESR GDP estimate (UK), average hourly earnings m/m (US), non-farm employment change (US), unemployment rate (US), final wholesale inventories m/m (US), JOLTS job openings (US), consumer credit m/m (US), trade balance (GER), industrial production m/m (GER)