One more day to go of the working week and then we can all go to the seaside or the park to swap germs but before that, we have a trading announcement from Vodafone Group PLC (LSE:VOD) (LON:VOD).
Mobile network Vodafone’s update will likely see the main focus on the company’s plans to expand its digital services in Europe and Africa, as well as how the company has fared in the first quarter of its current year after a somewhat neutral performance in its last one.
Shareholder focus is likely to be on the company’s performance in its core German market, as well as any updates on the progress of its plan to power its entire European operation using renewable energy and cut its carbon emissions to net-zero by 2030.
On the economics scene, June’s retail sales are expected to be down 1.4% in June from May but up 24.6% from June 2020 when the first lockdown was still in full force.
Friday is also the day for the release of a host of purchasing managers’ index (PMI) readings around the world, including the UK, where the Services “Flash” PMI and Composite “Flash” PMI readings will be out at 9.00am.
While manufacturing and construction PMI surveys have been strongly positive, above the 60 level for the last three months, the official ONS numbers have shown much weaker economic activity, observed Michael Hewson at CMC Markets, with a similar divergence being seen in the services data while retail sales numbers showed an unexpected decline in June.
“This week’s flash PMI numbers for July are expected to show fairly decent readings once again, however, given recent trends we do have to start treating these PMI numbers with slightly more caution given that they also exclude some important parts of the economy, that are continuing to struggle. One trend to keep a close eye on is the higher cost prices being reported by businesses as they struggle to source the necessary materials for their goods and services," he added.
Significant announcements expected
Trading announcements: Vodafone Group PLC (LSE:VOD) (LON:VOD), Premier Foods PLC (LON:PREM), Record PLC (LSE:REC) (LON:REC), Brewin Dolphin (LSE:BRW) Holdings PLC (LON:BRW)
Interims: Beazley PLC (LON:BEZ), Tricorn (AIM:TCN) Group PLC (LON:TCN)
Economic data: UK consumer confidence, UK retail sales, UK flash PMIs, US flash PMIs