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Welcome to the start of Week 25 of 2024. It’s going to be a fairly big one this week. Here’s what investors at home should be keeping an eye on.
Worth noting is that on Thursday, Guzman Y Gomez are expected to list on the market.
That listing is, in a word, controversial. Finance types in Sydney have all come together to value the Mexican fast food chain at $2.2B, despite it expecting to make less than $10M in FY25. Yes, that’s in AUD.
How exactly a company can be worth A$2.2B on earnings under A$10M boggles the mind and defies all common sense. By all accounts, most people perceive that valuation to be an inflated one that serves the purposes of managers behind the listing – not the everyday consumer.
Still, Guzman Y Gomez lets you walk out the door with a margarita slushy. There’s definitely value in that.
Monday
- 9.30AM WST: ANZ-Indeed Job ads data (-1.2% expected v 2.8% pcp)
- 10.00AM WST: China industrial production data for May (6.3% exp vs 6.7% pcp)
- 10.00AM WST: Retail sales YoY for May (2.6% exp vs 2.3% pcp)
Tuesday
- 12.30PM WST: RBA interest rate decision (4.35% exp vs 4.35% pcp – no change)
- 5.00PM WST: EU inflation rate for May YoY final (2.6% exp vs 2.4% pcp)
- 8.30PM WST: US retail sales MoM for May (0.2% exp vs 0% pcp)
Wednesday
- 7.50AM WST: Japanese balance of trade data for May (-USD$6.35B exp vs -USD$2.93B pcp)
- 2.00PM WST: UK inflation rate data YoY for May (1.9% exp vs 2.3% prior)
Thursday
- Guzman Y Gomez expected to list on this day
- 7.00PM WST: UK Bank of England (BoE) interest rate decision (no cut expected)
- 8.30PM WST: US building permits data (preliminary) for May (1.45M exp vs 1.44M pcp)
Friday
- 7.30AM WST: Japanese inflation rate for May YoY (2.5% exp vs 2.5% pcp)
- 2.00PM WST: UK retail sales YoY for May (1.9% exp vs -2.3% pcp)
