Weekly Reports | Feb 19 2016
For a more comprehensive preview of next week's events, please refer to "The Monday Report", published each Monday morning. For all economic data release dates, ex-div dates and times and other relevant information, please refer to the FNArena Calendar.
By Greg Peel
While the local market has been influenced by the macro backdrop during the month, reporting season has thrown up plenty of substantial micro moves. With around a third of companies covered by FNArena database brokers having reported to date, the beat/miss ratio (FNArena’s own assessment) is running at 2.4 to 1 and broker ratings upgrades have outnumbered downgrades by 1.6 to 1.
It’s one reason why we’ve pushed our way back towards the 5000 mark on the ASX200.
But next week sees the other two thirds of companies reporting. So realistically, it’s still early days. From an economic data standpoint, next week’s December quarter wage index and private sector capex numbers remind us that the quarter’s GDP result is nigh.
It’s a busy week for US data next week, just to add further to the tedious Fed debate. We’ll see new and existing home sales, house prices, consumer confidence, durable goods, personal income and spending and trade numbers and the Chicago Fed and Richmond Fed indices. There will also be flash estimates of February manufacturing and services PMIs and a revision of the December quarter GDP result.
Japan and the eurozone will also provide flash PMIs next week, while Japanese inflation will be in the spotlight by week’s end.
Highlights among next week’s reporting companies are far too numerous to list, so please refer to the FNArena calendar (link above).
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