Wednesday preview: Barratt Redrow results, non-farm payrolls due

(Sharecast News) - On Wednesday, housebuilder Barratt Redrow and Imperial Leather maker PZ Cussons will release interim results, along with Renishaw and MJ Gleeson. Aarin Chiekrie, equity analyst at Hargreaves Lansdown, said Barratt's had a decent start to its financial year, with total completions up 7.9% to 3,665 new homes between July and October.

"Sales rates have only dipped slightly over the period, despite rising uncertainty ahead of the UK Budget back in November. With that hurdle now out of the way, investors are eager to hear whether demand has shown any signs of picking back up when the group releases its half-year results next week," he said.

"Affordability issues remain top of the agenda for buyers in 2026. With Barratt's diverse mix of geographical reach and price points, there's something for everyone. The group's hoping to build between 17,200-17,800 new homes this year, up 5.6% at the midpoint. Alongside cost-savings from the integration of Redrow into its business, that's underpinning expectations for full-year pre-tax profit growth of 17.2% to £572 million.

"But sales and profits could come under pressure if affordability issues show signs of weighing on demand next week, especially for some of its higher-priced homes."

In Europe, quarterly results are due from TotalEnergies, Heineken, ABN Amro, Ahold Delhaize, Michelin and Commerzbank, among others.

On Tuesday, Germany's Commerzbank reported above-forecast earnings and confirmed plans to return more than €500m to shareholders. In a brief update ahead of the full-year numbers on Wednesday, the lender said net profits in 2025 had come in at €2.63bn. That was down on 2024's €2.68bn, but was better than consensus expectations of €2.54bn.

Once restructuring charges were stripped out, net income rose around 13% to €3bn, the lender said.

On the macroeconomic front, the US non-farm payrolls report for January - which was delayed due to the partial government shutdown - will be released.

Kathleen Brooks, research director at XTB, said the payrolls report will be the highlight of the delayed US data releases this week, as we also get the benchmark payrolls revisions.

"The revisions data could lower the March 2025 payrolls data by 863k jobs, which would suggest several months of negative payrolls in 2025, and would paint a much darker picture of the US labour market," she said.

"There are currently just over two rate cuts expected for this year, this could be recalibrated higher, if this week's data suggests that the labour market is weaker than originally thought. Annual and core inflation is expected to moderate slightly to 2.5% for January. However, the risks are to the upside, as January tends to see hotter inflation due to seasonal price increase."

Wednesday February 11

INTERIMS

Barratt Redrow, MJ Gleeson , PZ Cussons, Renishaw

INTERIM DIVIDEND PAYMENT DATE

BT Group

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Consumer Price Index (US) (13:30)

Crude Oil Inventories (US) (15:30)

MBA Mortgage Applications (US) (12:00)

AGMS

Fevara, RWS Holdings

TRADING ANNOUNCEMENTS

Severn Trent

UK ECONOMIC ANNOUNCEMENTS

BRC Shop Price Index (00:01)

FINAL DIVIDEND PAYMENT DATE

Future