Thursday preview: Tesco unveils trading results

Tesco will be on everyone's lips Thursday as the world's third largest retailer releases a trading update.

The supermarket giant was falling 0.80% to 348.65p on Wednesday afternoon ahead of the announcement.

That, despite a hike in shares in the lead up to trading results from other major retailers including Sainsbury which boasted it would emerge as a "clear winner" in Christmas sales despite reporting slowed growth over the holidays.

However, according to Kantar Worldpanel, Tesco raised its core grocery sales ahead of Sainsbury, Asda and Morrison in the lead up to Christmas.

The market researcher said Tesco's cash sales grew 4.2% in the four weeks to December 23rd, confirming the group led the UK majors for the second period running.

The grocer saw a 6.7 % jump in food and drink sales.

Asda's sales grew 3.7 % while Sainsbury rose 3.3% and Morrison fell 0.6%.

TRADING ANNOUNCEMENTS

Bwin.party Digital Entertainment, Goals Soccer Centres, Hays, Hilton Food Group, Rathbone Brothers, SIG, Tesco

IMS

Hilton Food Group, JD Sports, XP Power

INTERIM DIVIDEND PAYMENT DATE

Caledonia Investments, Creston, Mckay Securities, Morgan Crucible Co, Whitbread

QUARTERLY PAYMENT DATE

Land Securities Group, XP Power Ltd. (DI)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Spanish and Italian Treasury debt auctions

ECB Interest Rate (EU) (12:45)

Weekly initial unemployment claims (US) (13:30)

Wholesale inventories (US) (15:00)

Q4

Sandvine Corp.

GMS

Capital & Regional

FINALS

Sandvine Corp.

IMSS

Marks & Spencer Group

EGMS

Bridge Energy Asa, NetDimensions Holding Ltd. (DI)

AGMS

Baronsmead VCT, Baronsmead VCT 2, Cardiff Property

UK ECONOMIC ANNOUNCEMENTS

MPC policy decision

RD