Tuesday preview: Market to digest fresh data

7th Sep 2009 15:48

Investors will have some economic data to get their teeth into on Tuesday, with industrial production and manufacturing numbers for July due early on.Both reports are expected to reveal modest growth. Industrial production is forecast to have risen 0.2% during the month following June's 0.5% growth. That would narrow the year-on-year decline to 10.1% from 11.1%.Economists expect manufacturing output will also have added 0.2% in July and contracted by 11.1% for the year. It grew 0.4% in June, but shrank 11.7% annually. Also look out for the British Retail Consortium's (BRC) retail sales monitor for August. A 'modestly firmer' figure for total sales is on the cards, according to Howard Archer, chief UK economist at IHS Global Insight.Total retail sales rose by 3.6% year-on-year in July, while like-for-like retail sales rose by 1.8% year-on-year, helped by sharply reduced mortgage payments, lower utility bills and more moderate inflation.On the company's front, a trading update from regional brewer and pub chain owner Greene King is expected to reveal like for like managed sales grew at a slightly slower pace in the nine weeks to 30 August.Like for like sales at the managed business rose 5.2% in the first eight weeks of the period and EBITDA dropped 10.2% on the tenanted side. Broker KBC Peel Hunt thinks the nine-week numbers will come in at 3% and -10%.The company has seen its share price more than double since last October, so broker KBC predicts 'a period of sideways drift for a while'.Elsewhere, Abcam, a biosciences firm that markets antibodies online, is expected to reveal another set of bumper results. KBC Peel Hunt forecasts a 54% surge in full-year revenue to £56.4m, or 28% at constant currency, and adjusted pre-tax profit up 115% to £17.1m.Tuesday September 08 INTERIMS SQS Software Quality Systems, Staffline Group, STM Group, Total Produce QUARTERLY PAYMENT DATE BP FINALS Abcam, Interior Services, Mattioli Woods AGMS AIM Distribution Trust, Develica Deutschland, DS Smith, Eredene Capital, Hampson Industries, Jupiter Green Inv Trust, Midas Income & Growth Trust UK ECONOMIC ANNOUNCEMENTS BRC Sales Monitor (10:30) Industrial Production (09:30) Manufacturing Output (09:30) INTERNATIONAL ECONOMIC ANNOUNCEMENTS Consumer Credit (USA) (20:00) Trade Balance (GER) (07:00) Industrial Production (GER) (11:00) Current Account (JPN) Bankruptcies (JPN) TRADING STATEMENTS Greene King