Weekly Trading Update
Weekly Trading Update 22/01/2018
This week may be the quietest week of 2018 as a whole for UK economic figures. We have to wait until Tuesday to hear the Public sector net borrowing figures and the industrial order expectations. The week peaks on Wednesday with the always interesting average earnings and unemployment rate. Thursday sees the high-street lending and CBI realised sales. Before the week comes to the close with a whimper of prelim GDP and the index of services 3m/3m
‘There must be some market-moving figures out in the US at least!’ I hear you shout. I wish it was so. Luckily the week does thaw out slightly in the US, however barren lands start us off, and we have to wait until Wednesday (!) before seeing anything of real note. Flash manufacturing and services PMI are released, along with the existing home sales. Thursday sees the new home sales figures, along with unemployment claims, preliminary wholesale inventories and the natural gas storage figures. The week rounds off with the core (and non-core) durable goods orders, as well as the advanced GDP q/q figures.
Despite the number-full finish to the week, I would like to see if any of those figures will halt the current US market’s upward trend.
Eurozone
Is that a quiet start to the week in the Eurozone I hear? Unfortunately yes. Wednesday sees all of the Flash manufacturing and services numbers. Thursday sees Spanish unemployment and German business and consumer numbers - the big showpiece of the Eurozone this week will be coming from the ECB press conference in the early afternoon on the same day.
We will have to wait and see if there is any further news to come from Britain and France’s meeting of minds this week.
Stock of the week: Carillion – Trading Update
It’s fair to say this week’s stock of the week was an easy pick. It’s downfall has been well documented following the weekend’s news that the company’s debt levels had reached breaking point for the company.
After announcing that it would be going into liquidation, the stock was suspended before the opening bell on Monday. However it’s close on the previous Friday of 14.2p doesn’t tell the whole story, and the stock had been in decline from June last year after profit warnings came to light. In fact, at this time last year, the stock was trading just under 240p.
The biggest outcry appears to be how Carillion was allowed to get to the point, considering the number of employees that are now stuck in limbo over their near term future, as well as the long-term impact this will have on pensions and the like. There has been damning reports on the men-in-charge changing the rules to help them keep hold of their wages of what they could see was a sinking ship.
Open (Monday)
7797
Close (Thursday)
7705
Change
-1.18%
High
7797
Low
7683
Open (Monday)
25924
Close (Thursday)
25974
Change
+0.19%
High
26154
Low
25706
Open (Monday)
1.3732
Close (Thursday)
1.3892
Change
+1.17%
High
1.3943
Low
1.3729
Open (Monday)
1337
Close (Thursday)
1328
Change
-0.01%
High
1345
Low
1324
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