Source: Sharecast
Michael Hewson at MCH Market Insights said it was hard to be optimistic about the retail sales "given the backdrop that led up to the November budget with the early briefing from Chancellor Reeves at the beginning of the month, followed by the heavy leaking of possible policy moves and U-turns that ensued in the lead up to the actual budget itself".
"The hope is that we might see a post-budget rebound as a result of the ensuing clarity around the outlook, however we won’t know that for sure until the beginning of January when many of the major retailers announce their post-Christmas trading updates," he said.
On the corporate front, retailer WH Smith is set to release its full-year results.
These had been scheduled for release on 16 December but were delayed to give auditors more time to finish their work.
This comes in the wake of an accounting error that wiped almost £600m from the company’s stock market value and led to the departure of chief executive Carl Cowling.
The company cut forecasts in August and launched an independent review led by Deloitte after it discovered that an accounting blunder at its North American arm overstated profits by as much as £50m.
Friday December 19
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