Next Week At A Glance – 8-12 – Jul 2024

Weekly Reports | Jul 05 2024

This story features COLLINS FOODS LIMITED, and other companies. For more info SHARE ANALYSIS: CKF

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.

Titbits from the week that was

-One can’t look past elections and political debates to set the tone, namely “uncertainty”!

-China June PMI -0.5 points to 50.5, manufacturing flat at 49.5 and non-manufacturing 0.6 points up to 50.5.

-Core logic reports June average home prices rose 0.7% month-on-month and 8% year-on-year.

-Melbourne Institute’s Monthly Inflation Gauge rose 0.2% month-on-month/3.2%year-on-year in June.

-ANZ job ads fell further, another -2.2% in June. 

-US June manufacturing data ISM -0.2pts to 48.5, weaker than expected.

-May RBA meeting minutes as expected, considered rate hike.

-Eurozone June CPI fell to 2.5% year-on-year from 2.6%, in line with expectations.

-US May job openings up slightly, but remain in a downtrend.

-Australian May retail sales up 0.6% month-on-month, stronger than expected.

-China Caixin services PMI down in June.

-Australia home building approvals up 5.5% month-on-month, but lifted by units up 19.7% month-on-month.

-US June services ISM down -5 points to 48.8; initial jobless claims up 4,000; ADP employment slowed; Fed minutes a “bit dovish”

-Japan’s May household spending declines -1.8% year-on-year versus 0.1% expectations.

Next week at a glance

-Monday July 8; Japan May current account

-Tuesday July 9: Australia, NAB business confidence; Westpac consumer confidence; US June NFIB; US Powell testifies to Senate banking

-Wednesday July 10; RBNZ cash rate; Japan June PPI; China June CPI/PPI; US mortgage applications and wholesale inventories

-Thursday July 11; NZ food prices; Australia inflation expectations; Japan May machine orders; Europe, German CPI; UK May trade balance; US jobless claims and June CPI

-Friday July 12; NZ June PMI; China trade balance; US June PPI and University of Michigan survey

Corporate calendar

-Monday July 8; Collins Food ((CKF)) ex-dividend 15.5c (100% franked)

-Tuesday July 9; Red Hill Minerals ((RHI)) ex-dividend $1.50 (100% franked)

-Wednesday July 10; nothing currently available

-Thursday July 11; Transmetro Corporation ((TCO)) ex-dividend 5c (100% franked); Westgold Resources ((WGX)) ex-dividend 1.25c (100% franked)

-Friday July 5; nothing currently available

For a calendar of earnings result releases and a summary of earnings results to date, refer to FNArena’s Corporate Results Monitor (https://www.fnarena.com/index.php/reporting_season/)

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CHARTS

CKF RHI TCO WGX

For more info SHARE ANALYSIS: CKF - COLLINS FOODS LIMITED

For more info SHARE ANALYSIS: RHI - RED HILL MINERALS LIMITED

For more info SHARE ANALYSIS: TCO - TRANSMETRO CORP. LIMITED

For more info SHARE ANALYSIS: WGX - WESTGOLD RESOURCES LIMITED