Friday's agenda: Investors hope Rotork can hit already lowered hopes

Rotork and economic data will be on the agenda on Friday

Rotork makes valves for the oil and gas sector

Investors will be hoping valve maker Rotork does not hint at any further signs of weakness in the company, after its profit warning in September.

The FTSE250 firm will update the market, having previously lowered its earnings [EBIT] guidance down to £120mln-130mln.

Coming within that range will be “a relief” for investors, according to Numis Securities, with the market waiting to see if there have been further delays to the ones previously highlighted.

It could go either way for the company, the broker said, as its competitors have shown mixed third quarter results.

Emerson Process Management was organic sales rise 10%, while Pentair’s organic sales dropped 18%.

Friday could be the biggest data day of the week, with the release of retail sales, Michigan consumer sentiment and PPI data.

In the UK, Investec said: “On Friday, September construction numbers might give us a better sense of fourth quarter GDP prospects (although these data are notoriously volatile and subject to revision).”



Significant announcements expected:

Interim: Auto Trader Group (LON:AUTO), New Europe Property Investments (LON:NEPI), Romgaz (LON:SNGR)

Trading statement: HellermannTyton Group (LON:HTY), Rotork (LON:ROR)

US companies: Tyco International

Economic: US – Retail Sales, Business Inventories, PPI; UK – Construction Output; EU – Trade Balance, Gross Domestic Product

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


Fobi AI takes technology to the mining industry partnering with Azincourt Energy

Fobi AI (TSX-V:FOBI, OTCQB:FOBIF) CEO Rob Anson joined Steve Darling from Proactive to share big news that the company has entered into a data consulting agreement with Azincourt Energy (TSX-V:AAZ) which provides real-time data analytics through artificial intelligence. Anson telling...

11 hours, 53 minutes ago

2 min read