As well as the important PMI manufacturing and services surveys for the UK, US and around the world on Tuesday, there will also be updates from St. James’s Place PLC (LON:STJ) and Cranswick PLC (LON:CWK).
FTSE 100-listed wealth manager St James’s last update, in May, revealed that its funds under management had recovered in April, with net inflows on a par with where they were a year ago.
Gross inflows were £1.2bn in April, 13% lower than last year, but net inflows of £0.8bn were up 1% year on year.
STJ shares are down 19% so far this year, while those in Cranswick are up 4%.
The FTSE 250-listed meat producer is felt likely to be benefitting from the increase in sales through retailers and the demand for meat products, however three of its staff at its Barnsley facility died after contracting coronavirus.
“This will more than offset the impact on foodservice and wholesale sales,” said analysts at Peel Hunt.
What’s more, demand and prices in China will be heightened by the impact on the US food processing problems.
The Peel Hunt analysts said Cranswick limited the number of infections at its Barnsley facility “and there have been very few cases elsewhere across the Cranswick network”.
Cranswick’s full-year results will also see an update on its acquisitions and new Eye poultry operations.
UK and US PMI data on Tuesday will be among the most important macroeconomic news of the week, being among the first indicators looking at how various economies have fared into June as countries continued to ease coronavirus lockdown measures.
“Although usually the manufacturing PMIs are the more important, nowadays it’s the service sector that’s under pressure and so everyone is waiting to see how the service sector recovers,” said analyst Marshall Gittler at BD Swiss.
“My impression from looking at the so-called ‘forecasts’ is that no one has a clue, really. The idea that Germany, the Eurozone as a whole and the UK should all have the same figure is fairly unrealistic,” he added on Friday.
“After all, it appears that Germany has emerged out of the lockdown much more than the UK, certainly, at least judging by the number of restaurant bookings and requests for directions.”
Significant announcements expected for Tuesday June 23:
Trading updates: St James’s Place PLC (LON:STJ), NCC Group PLC (LON:NCC)
Finals: Cranswick PLC (LON:CWK), Gear4Music Holdings PLC (LON:G4M), Naked Wines PLC (LON:WINE), Scapa Group PLC (LON:SCPA), Trackwise Designs PLC (LON:TWD)
Interims: Tricorn Group PLC (LON:TCN), Velocity Composites PLC (LON:VEL)
Economic data: UK final manufacturing PMI, UK final services PMI, US final services PMI, US final manufacturing PMI
Published at Mon, 22 Jun 2020 12:09:00 +0000-St. James’s Place, Cranswick and PMI data trot out on Tuesday