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Wednesday preview: Bitcoin, Sainsbury in the spotlight
(Sharecast News) - The economic agenda will be sparse in the middle of the week.
Wednesday's main releases will be in the People's Republic of China, with readings for foreign direct investment and money supply growth in December both due out.
Investors will also be keeping an eye out for the U.S. Securities and Exchange Commission's expected decision on whether to allow exchange traded funds for Bitcoin.
No major economic reports are scheduled in the U.K., U.S. or euro area.
On the company side of things, Sainsbury will post its financials for its third fiscal quarter.
Michael Hewson, chief market analyst at CMC Markets UK, believed the grocer's sales pre-Christmas had remained resilient, further helping to cement its position as the country's number 2 supermarket.
However, food and drink sales may have sapped some of the strength of those of higher price items at its Argos unit.
Furthermore, the CMA was looking into grocers' loyalty card promotions to ensure that they were not misleading consumers, Hewson added.
On the flip-side, grocery price inflation was trending at levels of 9%.
Sainsbury itself had guided towards full-year profits towards the top end of the range of £670-700m, whilst free cash flow was pegged to come in at £500-600m.
Wednesday 10 January
INTERIM DIVIDEND PAYMENT DATE
Mercia Asset Management, Severn Trent, Volex, VP
QUARTERLY PAYMENT DATE
Assura
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Crude Oil Inventories (US) (15:30)
MBA Mortgage Applications (US) (12:00)
Wholesales Inventories (US) (15:00)
GMS
Hummingbird Resources, Scirocco Energy , Scirocco Energy , Versarien
AGMS
Ironveld
TRADING ANNOUNCEMENTS
Greggs, Persimmon, Sainsbury (J)
FINAL DIVIDEND PAYMENT DATE
Bellway, Fidelity Special Values
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