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Wednesday preview: China activity data, Fevertree in focus

All eyes in the middle of the week will be on a raft of key economic activity data in the People’s Republic of China.
The consensus is for retail sales, fixed asset investment and industrial production all to have slowed further in August.

Against that backdrop, at 0700 BST, the Office for National Statistics is expected to say that the annual rate of headline CPI accelerated from 2.0% for July to 2.9% in August.

Core CPI is seen higher alongside too, with economists at Barclays Research anticipating a an increase from 1.8% to 2.8%.

Stateside, investors’ focus will be on readings for import prices and industrial production in August.

Across the Channel meanwhile, the spotlight will be on speeches from European Central Bank governing council member Isabel Schnabel, at 1330 BST, and ECB chief economist, Philip Lane, at 1600 BST.

For Fevertree Drink’s half-year results, UBS analyst Robert Krankowski says investors will focus on what the company has to say regarding on the outlook for costs, pricing and the pace of recovery in the on-premise channel in Europe and UK.

Trends in the off-premise channel after the on-premise channel reopened and progress in expanding local production in the US would also garner attention, he said.

The analyst was currently estimating full-year sales of £395.0-304.0m, putting him 3% ahead of the company’s own guidance on a margin of about 20.0% on an earnings before interest, taxes, depreciation and amortisation basis.

“Sentiment remains negative ahead of the results as investors are increasingly worried about Fever-Tree’s expectation of “some” margin progression in 2022 in light of rising cost pressures and read across from other European Soft Drinks peers.”

Wednesday 15 September

INTERIMS

Advanced Medical Solutions Group, BioPharma Credit , Central Asia Metals, Elecosoft Public Limited Company, Epwin Group, Keywords Studios, Pendragon, RBG Holdings, Restaurant Group, Science In Sport, Surgical Innovations Group, Tinybuild Inc. (DI) (Reg s, CAT 3), Trackwise Designs , Trinity Exploration & Production

INTERIM DIVIDEND PAYMENT DATE

Fresnillo, LLoyds Banking Group 6.475% Non-Cum Pref Shares, LMS Capital, Newcastle 12 5/8% Perm Int Bearing Shs #1000, Reckitt Benckiser Group

QUARTERLY PAYMENT DATE

Canadian General Investments Ltd.

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Capacity Utilisation (US) (14:15)

Crude Oil Inventories (US) (15:30)

Import and Export Price Indices (US) (13:30)

Industrial Production (EU) (10:00)

Industrial Production (US) (14:15)

MBA Mortgage Applications (US) (12:00)

Wholesale Price Index (GER) (07:00)

FINALS

Darktrace , Pan African Resources, Redrow

AGMS

Best of the Best, Dixons Carphone , Dixons Carphone , Games Workshop Group, Grafenia , Hipgnosis Songs Fund Limited NPV, Hornby, Intercede Group, Marlowe, NB Private Equity Partners Ltd., Omega Diagnostics Group

UK ECONOMIC ANNOUNCEMENTS

Consumer Price Index (07:00)

Producer Price Index (07:00)

Retail Price Index (07:00)

FINAL DIVIDEND PAYMENT DATE

Montanaro European Smaller Companies Trust

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