The earnings season moves into second gear with results from three more Straits Times Index (SGX: STI) companies.
In April, CapitaLand Commercial Trust (SGX: C61U) said distributable income rose 8% thanks to a better performance of its portfolio. But it said negative rent reversions could impact revenue growth in 2019.
Keppel Corporation (SGX: BN4) has said it was confident of achieving a return on equity of 15% in the mid-term to long-term horizon. In the first quarter, the annualised return on shareholder funds was 7%. Net profits at the conglomerate in the first three months were affected by smaller gains from en bloc residential sales.
Ground handler, SATS (SGX: S58), said demand for aviation services and high-quality food in Asia Pacific continues to grow. In May, it said net profit declined due to the absence of one-off gains. But operating profit continued to improve year on year.
On the economic front, US retail sales growth could have slowed to 0.3% in June from 0.5% the previous month. In May, robust sales was seen for motor vehicles and a variety of other goods.
Retails sales growth could have slowed in China too. But the focus could be on China’s GDP growth rate. This could have moderated from 6.4% in the first quarter to 6.2% in the second three months of the year.
Japan’s headline inflation rate could have inched up from 0.7% in May to 0.8% in June. But the core inflation rate could have slowed from 0.8% to 0.6%.
Australia will report the number of people out of work for June. The unemployment rate is expected to be unchanged at 5.2%. Elsewhere, the unemployment rate in the UK is also expected to be unchanged at 3.8%.
And finally, Singapore will post non-oil exports for June. It could be another month of declining exports, which could add to concerns that the local economy is slowing.
- Motley Fool Issues New SGX Buy Alert
- 1 Singapore REIT That Could Double Your Investment in the Next 5-7 Years
- Prime US REIT IPO: 9 Things Investors Should Know
- 2 Top Dividend Stocks to Buy in July
- How to Generate a Passive Income Each Year from Dividend Stocks
- Is Singtel Cheap at Its Share Price of S$3.50?
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.
Motley Fool Singapore 2019