View the week's key company earnings schedule and important stories to look out for.
View the top 6 stories to watch (30 May to 3 June) and our key company earnings schedule.Will OPEC continue its oversupply strategy?
OPEC’s plan to keep supplying oil and drive prices to a level that will bankrupt the competition is taking shape. US oil production has fallen for four months, catching up with an 80% plunge in oil rigs since 2014, while oil futures have rallied 80% from the year’s low. It would seem unwise for OPEC to backtrack on what appears an increasingly successful strategy.6 other events to look out for this week
1. WED 1 JUNE Is Halfords’ acquisition strategy paying off? The acquisition of Tredz and Wheelies Direct adds a premium range to compliment Halfords’ products, and is another way to capture the growing popularity of cycling in the UK. 2. WED 1 JUNE Can Michael Kors sustain lower prices? Michael Kors has met the trend for smaller handbags, but with more units sold at a lower average price in Q1, is this sustainable for a brand cultivating a luxury image?
3. WED 1 JUNE Is Chinese manufacturing slowing down? After a drop in activity in the most recent April PMI raised concerns that the slowdown could reassert itself, China's economy may not be as robust as first thought. 4. THU 2 JUNE How will the ECB rate meeting impact the euro? While no changes are expected on rates or asset purchases, the first of the new TLTROs is scheduled to begin in June, along with its new corporate bond buying programme. 5. FRI 3 JUNE Will this week’s US data signal a June rate rise? With some Fed policymakers suggesting an interest-rate hike is more likely than anticipated, May’s non-farm payrolls data could act as a signpost for a June or July increase.
Selected company earnings (30 May-3 June) Monday 30 May Results No major releases scheduled Tuesday 31 May Results Ascena Retail Group (US) Q3 Renold (UK) Full-year TiVo (US) Q1 Workday (US) Q1 Wednesday 1 June Results Acal (UK) Full-year Halfords Group (UK) Full-year LondonMetric Property (UK Full-year Michael Kors (US) Q4 Telford Homes (UK) Full-year Thursday 2 June Results Ambarella (US) Q1 Ciena (US) Q2 Johnson Matthey (UK) Full-year Joy Global (US) Q2 RPC Group (UK) Full-year Friday 3 June Results No major releases scheduled
Company announcements are subject to change. All the events listed above were correct at the time of writing.
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