Greggs to serve fresh trading update on Wednesday; US ADP data eyed


On Wednesday, bakery chain Greggs PLC (LON:GRG) will issue a trading update for its fourth quarter, although the figures may bring little festive cheer for the firm as it continues to review possible job cuts, with recent lockdown measures unlikely to improve the situation as its branches are likely to have closed in multiple areas.

Meanwhile, the new lockdown measures introduced across the UK is unlikely to make the coming months much better for the group, with the forced closures meaning it may have to lean even more heavily on its delivery capabilities in order to keep the steak bakes and sausage rolls flowing to customers who now find themselves once again shut inside.

With this in mind, investors may instead hope the company’s sales have not been hit too badly, as well as its outlook for the coming months and any changes to its long-term strategy.

Meanwhile, the macro diary will contain a few announcements including services PMI data from both the UK and the US.

Also in focus will be the US ADP jobs figures, which may provide some insight into how the latest US non-farm payrolls data will look when it is released on Friday.

Significant announcements for Wednesday January 6:

Trading announcements: Greggs PLC (LON:GRG)

Economic data: UK services PMI, US ADP unemployment, US services PMI


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