The week ahead: Inflation, Galliford Try

Corporate results are fewer in number, but there are some releases to keep an eye on. Big news of the week, however, is inflation data out of the UK and US.

Monday 12 February

Trading Statements

Acacia Mining

Tuesday 13 February

It's the first batch of inflation data this week and, with concerns about rising costs and interest rates the reason behind the recent equity market rout, all eyes are on the UK Tuesday.

CPI inflation is expected to have eased to 2.9% in January from 3% at the end of 2017. Core inflation is seen up to 2.6% from 2.5%. Odds are on a hike in UK rates in May.

Trading Statements

Pan African Resources, Mucklow (A & J), Oncimmune Holdings, XLMedia

AGM/EGM

TUI AG, Pressure Technologies, F&C Capital & Income Investment Trust, Fastforward Innovations

Wednesday 14 February

US inflation concerns are behind this stockmarket crash, so numbers out midweek could move markets.

Watch for core inflation – excluding volatile food and energy prices – up 0.2% month-on-month and an annual rate of 1.8%. Any surprise here could cause further havoc in global financial markets.

Before all the excitement, housebuilder Galliford Try steps up with half-year results.

Galliford currently offers a well-covered sector-leading forward yield of more than 8%, and it is the cheapest housebuilder around.

Analysts like the shares, but they have fallen sharply in the past month. Barclays slaps a price target of 1,184p on the shares, and analysts at Peel Hunt are even more aggressive, backing Galliford up to 1,620p.

"We continue to think the UK market for new housing is well set and that Galliford's business mix in this area is attractive," says analyst Clyde Lewis.

Sales are expected to reach £2.8 billion in the year to June, and adjusted pre-tax profit £173 million, from £151 million a year ago.

Trading Statements

Galliford Try, Shire, Coca-Cola, Plus500

Thursday 15 February

Trading statements

Lancashire Holdings, Primary Health Properties, Indivior, RELX, ConvaTec

AGM/EGM

Paragon Banking Group, Sanderson Group, Inspirit Energy Holdings, Petro Matad

Friday 16 February

Trading statements

Segro

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