Monday, March 1We Break the News

UK Retail Sales Fall More than Expected: CBI, Scotiabank earnings at 1.88 USD, Home Depot earnings at 2.65 USD, Inflation in Malta Steady at 0.2%

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UK Retail Sales Fall More than Expected: CBI
The CBI distributive trades survey’s retail sales balance rose five points from the previous month to -45 in February 2021, missing market expectations of -38 and suggesting retail sales orders fell at a softer pace. The trade volumes contraction was also eased from the previous month as Britain remains under its third national lockdown. Among retailers, only grocers saw any growth in volumes in the year to February, with non-store sales flat and other retail sectors reporting sharp declines. Meanwhile, internet sales growth hit a new record. Looking ahead, retailers anticipate an even steeper fall in sales and orders for March, but sentiment for the quarter ahead stabilized.

Scotiabank earnings at 1.88 USD
Scotiabank (BNS) released earnings per share at 1.88 USD, compared to market expectations of 1.24 USD.

Home Depot earnings at 2.65 USD
Home Depot (HD) released earnings per share at 2.65 USD, compared to market expectations of 2.61 USD.

Inflation in Malta Steady at 0.2%
The annual inflation rate in Malta sticked to 0.2 percent in January of 2021, unchanged from the previous month. The largest upward impacts came from clothing & footwear (0.7 percent vs -3.9 percent in December), due to higher prices of garments; health (1.9 percent vs 2.3 percent), on account of higher prices of medical services; and education (2.5 percent vs 4.8 percent), on higher private school fees. Downward pressure came from prices of transports (-0.7 percent vs -0.9), reflecting lower prices of fuels; communications (-0.7 percent vs -1.3); and restaurants & hotels (-0.2 percent vs -0.2 percent). On a monthly basis, consumer prices fell 1.3 percent, following a 0.3 percent decline in December, as prices plunged for clothing & footwear (-19.1 percent), and continued to fall for restaurants & hotels (-0.8 percent) and for food & non-alcoholic beverages (-0.2 percent).

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