Ocado to deliver update alongside grocery market share figures on Tuesday, UK unemployment data eyed
On Tuesday the key corporate update will likely be a trading announcement from grocery giant Ocado, which will likely be taken into account when the latest set of Kantar grocery market share figures for the 12 weeks to September 6 are released at 8am.
On the macro front, UK unemployment data for August will be taking the spotlight ahead of the Bank of England’s meeting on Thursday.
In July, Britain’s jobless numbered 2.7mln, an increase of 94,400 on the prior month, although some may be hoping Chancellor of the Exchequer Rishi Sunak’s ‘Eat Out to Help Out’ scheme may have stemmed some job losses in the services sector by boosting incomes at restaurants, cafes and bars. However, fears are likely to remain of an impending spike in unemployment when the furlough scheme wraps up at the end of October.
Ocado eyed for M&S partnership update
Online grocery giant Ocado Group PLC (LON:OCDO) will update investors on its trading on Tuesday, with most attention likely to centre on the performance of the company’s new delivery partnership with Marks and Spencer Group PLC (LON:MKS) so far.
Meanwhile, shareholders will also be looking for details on any plans on how the company intends to generate more cash as well as spend the GBP1bn it raised from investors in June.
With earnings from the company’s international partners being slow to emerge and Ocado saying in April that earnings (EBITDA) from its international solutions business will fall due to continued investment in building the business, investors are likely to want more clarity about when exactly the firm plans to repay them for their support following its rocketing share price.
Significant announcements for Tuesday 15 September:
Trading announcements: Ocado Group PLC (LON:OCDO)
Finals: Diurnal Group PLC (LON:DNL),
Interims: Marshalls PLC (LON:MSLH), Eve Sleep PLC (LON:EVE), Bango PLC (LON:BGO), Bonhill Group plc (LON:BONH), Corero Network Security PLC (LON:CNS), Good Energy Group Plc (LON:GOOD), JTC PLC (LON:JTC), Polypipe Group PLC (LON:PLP), Smart Metering Systems PLC (LON:SMS), The Simplybiz Group PLC (LON:SBIZ), Trinity Exploration & Production PLC (LON:TRIN), Vectura Group PLC (LON:VEC)
Economic data: UK unemployment, US production