Friday preview: GfK releases reports on UK and German consumer confidence
UK and German consumer confidence may have risen slightly, GfK is expected to reveal in separate reports scheduled for release on Friday.
GfK’s index on UK consumer confidence is forecast to rise to -1 in December from -2 in November.
Its index on German consumer sentiment is projected to increase to 8.8 in January from 8.7 in December. It follows a report on Thursday from the Ifo which showed German business confidence improved in December, as predicted by analysts.
“December’s German Ifo survey provides some comfort that recent overseas events have not yet hit the economy, but remains consistent with only weak rates of expansion,” Capital Economics said.
On the company-front on Friday, engineer Keller releases a trading statement which Numis projects will reiterate that its full-year results will be in line with market forecasts.
In November, at the time of the third quarter interims, the group said the challenging Australian resources market will be offset by buoyant US conditions.
“In addition, whilst the like-for-like order book at the end of October was slightly behind the same time last year, this, in our view, is only a reflection of the lumpy nature of larger contracts and we continue to expect an upwards trend going forward,” Numis said.
“Keller currently trades on a 2015 price-earnings ratio (P/E) of 9x and dividend yield of 3.1% (with 3.5x cover); whilst under our normalised analysis this falls to a P/E of 7x. We therefore reiterate our ‘buy’ recommendation and argue there is scope for significant share price upside as global construction activity normalises.”
Friday 19 December
INTERIM DIVIDEND PAYMENT DATE
Camkids Group, Iona Environmental VCT, Iona Environmental VCT 'A' Shares, Iona Environmental Vct 'B' Shares, John Laing Environmental Assets Group Limited , Liontrust Asset Management, London Security, LondonMetric Property, Record, Tesco, Walker Crips Group, Wynnstay Properties
QUARTERLY PAYMENT DATE
Alpha Real Trust Ltd., BP, Brunner Inv Trust, Duet Real Estate Finance Ltd, Utilico Investments Ltd (DI)
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Payments (EU) (09:00)
Current Account (EU) (09:00)
GFK Consumer Confidence (GER) (07:00)
Producer Price Index (GER) (07:00)
GMS
AIREA, F&C UK Real Estate Investments Limited, John Lewis 5% 1st Cumulative Preference Stk 1, Symphony Environmental Technologies
ANNUAL REPORT
Character Group
SPECIAL DIVIDEND PAYMENT DATE
Best of the Best, Lancashire Holdings Limited
EGMS
BH Credit Catalysts Ltd Ord Red Shs NPV GBP, Datang International Power Generation Co Ltd., Hexaware Technologies Ltd. GDS (Reg S), Societatea Nationala De Gaze Naturale Romgaz S.A. GDR (Reg S)
AGMS
Botswana Diamonds, Henderson Value Trust, JPMorgan Japanese Inv Trust, OPG Power Ventures, Uranium Resources, Webis Holdings, Wessex Exploration
TRADING ANNOUNCEMENTS
Berendsen, Keller Group
UK ECONOMIC ANNOUNCEMENTS
Public Sector Finances (09:30)
FINAL DIVIDEND PAYMENT DATE
Dunelm Group, Edinburgh Dragon Trust, Pan African Resources, Tristel