Look ahead: French industrial production; EIA crude oil inventories; Greggs; Sainsbury’s
Retail is a big theme on Wednesday with Greggs and Sainsbury’s reporting trading figures, especially after data from the British Retail Consortium showed lacklustre overall UK retail sales around Christmas.
Look out for French industrial output data. EIA crude oil inventory data could provide further volatility for traders.
(AI Video Summary)
France's industrial production figures
Angeline Ong is here to give us the lowdown on all the important economic and retail news happening on Wednesday 10 January. First up, we have France's industrial production figures. It's expected to see a small increase of 0.1% from last month. Now, why is this important? Well, it's because people are curious about when the European Central Bank (ECB) might cut rates. This decision could be influenced by the timing of the first rate cut by the US Federal Reserve (Fed).
US wholesale and EIA crude oil inventories
Now let's shift our attention to the US. We can expect to see the release of wholesale inventories and EIA crude oil inventories. Oil prices have been all over the place lately, thanks to price cuts from Saudi Arabia and tensions in the Middle East. It'll be interesting to see how these reports affect the market.
Exciting retail sector news
We also have some exciting updates from the retail sector. British baker and fast food chain, Gregg's, is set to release its trading statement for the fourth quarter. They've been doing really well, thanks to the popularity of their vegan sausage rolls. Investors and analysts are eager to hear about Gregg's plans for an overseas trial. This means they're trying to expand their business beyond the UK. Despite economic uncertainties, Gregg's is aiming to open more stores and reach a whopping 3000, up from their current 2410.
Sainsbury's, a major grocery retailer in the UK, will also be sharing its trading statement for the third quarter. It looks like they, along with Tesco, did pretty well during the Christmas season. But Sainsbury's is facing tough competition, especially from German discounters like Lidl, who have been stealing market share from traditional retailers. Rumor has it that Lidl will be reporting a strong trading period.
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