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Tuesday preview: US producer prices, Flutter in focus
(Sharecast News) - Investors' focus on Tuesday will be on producer price data that are scheduled for release in the US.
The headline rate of wholesale inflation is expected to have dipped to 2.3% year-on-year after a 2.6% rise during the previous month.
Core producer prices meanwhile were seen having retreated from 3.0% to 2.7%.
Earlier, the Office for National Statistics was expected to publish the June employment report.
Significantly, the three-month annual rate of growth in average earnings, excluding bonuses, was forecast to have dropped from 5.7% to 4.6%.
In the euro area meanwhile, at 0900 BST the ZEW institute would release its economic confidence index for Germany in August.
Flutter Entertainment is due to release its second quarter earnings.
UBS analyst Ben Shelley was anticipating $3.4bn of revenues for the quarter and earnings before interest, taxes, depreciation and amortisation of $681m.
But what investors would be watching most closely would be guidance for the US unit's full-year EBITDA after rival DKNG cut its own guidance and due to the "well-telegraphed" taxation headwinds in the States, the analyst said.
His estimate was for full-FY year 2024 US EBITDA of $750m.
For the second quarter, he was anticipating operating profits of $204m for the US unit.
"While we believe the buyside is ahead on Q2 numbers, we think the FY24 US guide sees far greater debate amongst investors, as such we think a reiteration of the guide would result in share price outperformance, particularly amidst the recent dislocation in the share price."
Tuesday 13 August
INTERIMS
Dowlais Group, Flutter Entertainment (DI), Genuit Group, Georgia Capital
INTERIM DIVIDEND PAYMENT DATE
Dewhurst Group, Dewhurst Group 'A'NON.VTG, Unicorn AIM VCT
QUARTERLY PAYMENT DATE
BlackRock Latin American Inv Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Producer Price Index (US) (13:30)
ZEW Survey (EU) - Economic Sentiment (10:00)
ZEW Survey (GER) - Current Situation (10:00)
ZEW Survey (GER) - Economic Sentiment (10:00)
AGMS
Abrdn Property Income Trust Limited , Aptamer Group, CML Microsystems, Shuka Minerals, Shuka Minerals, The Global Smaller Companies Trust
TRADING ANNOUNCEMENTS
Gem Diamonds Ltd. (DI)
UK ECONOMIC ANNOUNCEMENTS
Claimant Count Rate (07:00)
Unemployment Rate (07:00)
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