The Week Ahead: SPH Kicks Off Another Earnings Season

It’s time for another earnings season, as Singapore Press Holdings (SGX: T39) steps into the spotlight.

It’s been a torrid time for the publisher of The Straits Times. Its shares have fallen by almost a quarter over the last 12 months. So, the media company has been on an accelerated mission to cut jobs. While the print side of the business appears to be under pressure, other parts of the business, such as property, seem to be doing well.

On the economic front, the US will report inflation numbers for December, which could have a bearing on the Fed’s next interest-rate decision. Headline inflation is expected to remain unchanged at 2.2%, while core inflation is forecast to creep up from 1.7% to 1.8%.

China will report inflation numbers too. This is expected to show that the consumer prices rose to 1.8% in December. In November, China said the slowdown in the rate of inflation was due to a fall in the cost of food, though non-food continued to increase.

Unemployment in the Eurozone has been on the decline. Over the last 12 months it has fallen from 9.7% to 8.8% in October, which was the lowest jobless rate since January 2009. However, the disparity between member states remains wide. Unemployment in Germany was 3.6%, whilst the proportion of people out of work in Greece was 20.6%.

Consumers in Japan appear to be growing in confidence. In November, the Consumer Confidence Index rose to 44.9 from 44.5 in the previous month. The December number is expected to come in at 45.4, which would be above the long-term average of 42.2.

Malaysia will report retail sales for November. In October, it increased 10.9% year-on-year. The December number is expected to show another increase – this time it could be 11.3%.

And finally, Singapore will report retail sales numbers too. In October, retail sales in the republic declined for the second straight month. Poor performances in motor vehicles and computer & telecom equipment, were some of the culprits. However, retails sales are expected to have bounced back in November.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore Director David Kuo doesn’t own shares in any companies mentioned.