The week ahead: Dixons Carphone, BoE interest rate decision
15th June 2018 16:11
by Lee Wild from interactive investor
With few scheduled corporate updates over the next week, all eyes will be on Dixons on Thursday and 50-plus services provider Saga.
Monday 18 June
Trading Statements
Live Company Group
AGM/EGM
Comptoir Group, Directa Plus, IP Group, Horizon Discovery, Papua Mining, Boston International
Tuesday 19 June
Trading Statements
Ashtead Group, Telecom plus, Ferguson, Gresham House Strategic, Footasylum
AGM/EGM
Ranger Direct Lending Fund, Trufin, Metals Exploration, Nautilus Marine Services, London & Associated Properties, Castleton Technology, Evraz
Wednesday 20 June
Trading Statements
Severfield, Berkeley Group Holdings
AGM/EGM
UK Commercial Property Trust, Tax Systems, Deltex Medical, Cadogan Petroleum
Thursday 21 June
After the US Federal Reserve hiked interest rates for a second time this year, and as the European Central Bank shifts closer to economic normalisation, it’s the Bank of England’s turn to discuss monetary policy.
Likelihood is that Mark Carney and colleagues will refrain from tightening this time, preferring to wait until August at the earliest to increase borrowing costs from 0.5%.
In company news, and just three weeks after a crushing profits warning and share price collapse, blamed on tough trading in the UK mobile phone market, Dixons Carphone steps up with final results on Thursday.
Investors hope that Alex Baldock's dire warning – the company's second in less than a year - was just a 'kitchen sink job' by the new chief executive, and it would be odd if there was further bad news so soon after the last trading update.
Indeed, we've already been told to expect group profit of about £300 million for the 2018/19 financial year. The PC World and Currys owner had been predicted to at least match the £382 million estimated for 2017/18.
All at Dixons HQ will be hoping that the World Cup offsets some of the gloom elsewhere in the business, encouraging footie fans to upgrade their TVs as the tournament gets underway.
Dixons shares currently trade on around nine times forward earnings and offer a prospective dividend yield of almost 6%. That look’s enticing, but the mobile business is struggling and a consumer recovery is needed to drive growth here.
Trading statements
Dixons Carphone, Saga
AGM/EGM
EJV Investments, Netscientific, BH Macro Limited, Saga, Mereo Biopharma, Tarsus, Vipera, Maistro
Friday 22 June
AGM/EGM
Zoltav Resources, Hon Hai Precision Industry, BH Global Limited, Fair Oaks Income Fund, Synairgen
Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.
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Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.