Here is a preview of three of the key financial events for the week ahead from Russ Mould, investment director at AJ Bell who will be available for comment on any of these topics.
1. Ferguson full-year results: Tuesday 29 September
· Plumbers’ merchant Ferguson (formerly known as Wolseley) gets nearly 90% of its revenues from the USA with the rest coming from Canada and the UK, after 2017’s sale of the Scandinavian business. This exposure to the USA is supporting the shares, which are pretty much back to their all-time peak a quarter higher than a year ago). One positive indicator for Ferguson is the recovery in the numbers of permits for and starts and sales of new houses in America.
2. Boohoo first-half results: Wednesday 30th September
Just when it looked like online fast fashion retailer Boohoo had fended off the attentions of short-seller Shadowfall and its critical report of the company’s governance, accounting and 2017 acquisition of Pretty Little Thing (PLT), the shares took a fresh hit in July from concerns over hits environmental, social and governance (ESG) practices, amid allegations over the use of sweated labour.
3. US non-farm payrolls: Friday 2nd October
The figures from the US Bureau of Labor Statistics (BLS) will provide the latest update on the American jobs market with the publication of the non-farm payrolls number, which shows how many posts have been added or lost during the prior month excluding the (seasonal) agriculture industry.