Money Minute, Wednesday 2 October: Tesco results and UK construction

Today we get first-half figures from supermarket giant Tesco, the latest ISM Construction Index for the UK, and US payrolls data.

This morning, in the UK, we get first-half figures from supermarket giant Tesco.Inevitably, any comments on the potential impact of Brexit will be pored over closely by the press.However, investors will pay most attention to like-for-like sales growth, and for signs of any strategy to tackle competition from the discount chains, Aldi and Lidl.

There may also be comment on Tesco's recent decision to sell its mortgage business to Lloyds Banking Group.

Subscribe to MoneyWeek

Become a smarter, better informed investor with MoneyWeek.

We also get the latest ISM Construction Index for the UK.The reading for August showed the sharpest decline since August 2009. Recent weak readings have largely been blamed on uncertainty over the timing and outcome of Brexit.

In the US, we get the ADP private payrolls data. Markets keep an eye on this as it is often seen as providing a sneak preview of Friday's unemployment data, although the correlation between the two is weak.A big surprise in either direction could move the market.




How long can the good times roll?

Despite all the doom and gloom that has dominated our headlines for most of 2019, Britain and most of the rest of the developing world is currently en…
19 Dec 2019

Tesco should keep its Asian assets

The £7bn that Tesco could get for its Tesco Lotus business in Asia looks enticing. But holding on to it would be smarter, says Matthew Lynn.
15 Dec 2019

Tesco cashes out of the mortgage business

Tesco Bank has left the mortgage market by selling its £3.7bn loan book. Its 23,000 customers will be moved to the Halifax, a subsidiary of Lloyds.
5 Sep 2019

Money Minute, Monday 30 March: grim numbers expected from the US

It’s a quiet week for economic data in the UK – but the US is set to release some grim numbers.
30 Mar 2020

Most Popular


Three things matter for the UK housing market now – and “location” isn’t one of them

The UK housing market is frozen. And when it does eventually thaw out, the traditional factors that drive prices will no longer apply. The day of reck…
1 Apr 2020

What does the coronavirus crisis mean for UK house prices?

With the whole country in lockdown, the UK property market is closed for business. John Stepek looks at what that means for UK house prices, housebuil…
27 Mar 2020

House prices and Covid-19

The housing market is in deep freeze – what happens when it thaws out?
5 Apr 2020
Global Economy

The MoneyWeek Podcast – Russell Napier: how much debt is too much?

Merryn talks to financial strategist and author Russell Napier about the huge levels of debt embedded in the global economy, the governmental response…
3 Apr 2020