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Wednesday preview: Paragon Banking, Inditex results in focus
(Sharecast News) - Wednesday will see the release of full-year results from Paragon Banking and Victorian plumbing, interim results from Zigup, and a trading statement from Moneysupermarket. As far Paragon is concerned, Bloomberg consensus is for net income of £198.7m, Common equity Tier 1 ratio of 13.7%, statutory pre-tax profit of £273.7m and a net interest margin of 3.07%.
In Europe, results are due from Zara, Massimo Dutti and Bershka owner Inditex.
In a research note on Tuesday, Berenberg - which rates the shares at 'buy'- said it expects Inditex to benefit from a number of sales growth drivers, both into and beyond the company's Q3 results on Wednesday.
"These growth drivers include the growing prevalence of the use of GLP-1 agonist drugs, which necessitate the purchasing of smaller clothing sizes and provide consumers with greater confidence to invest in their appearance," it said.
"Other sales drivers comprise cost-of-living pressures, encouraging consumers to trade down to mass market fashion retailers from aspirational brands, and the strength of southern European economies, notably Spain and Portugal."
Berenberg said its Q3 sales and profit estimates are slightly below consensus, but it is "optimistic that sales and profits could meet consensus estimates".
In the US, quarterly results from will be released by Salesforce, Snowflake and department store chain Macy's.
Wednesday December 03
INTERIMS
NextEnergy Solar Fund Limited Red, Ondo Insurtech, Ondo Insurtech, SDI Group , Sysgroup, Theracryf
INTERIM DIVIDEND PAYMENT DATE
BAE Systems
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Crude Oil Inventories (US) (15:30)
Import and Export Price Indices (US) (13:30)
ISM Prices Paid (US) (15:00)
ISM Services (US) (15:00)
MBA Mortgage Applications (US) (12:00)
PMI Composite (EU) (09:00)
PMI Composite (GER) (08:55)
PMI Composite (US) (14:45)
PMI Services (EU) (09:00)
PMI Services (GER) (08:55)
PMI Services (US) (14:45)
GMS
Smithson Investment Trust
FINALS
Paragon Banking Group, Victorian Plumbing Group
AGMS
450, Cordel Group, Pensana, Schroder Oriental Income Fund Ltd.
UK ECONOMIC ANNOUNCEMENTS
PMI Composite (09:30)
PMI Services (09:30)
FINAL DIVIDEND PAYMENT DATE
Kier Group, Wilmington
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