As we move into August, the Bank of England’s interest rates meeting is sandwiched between plenty more grist for the market mill across the week, including numbers from three of the FTSE 100’s top six, HSBC, BP, Diageo, as well as big names such as Next, Greggs, the LSE, Direct Line and Taylor Wimpey.
Then the blue-chips reporting across the Atlantic are supersized as usual, with US earnings including Apple, Amazon, Alibaba, Paypal, Pfizer, AMD, Airbnb, Uber, Moderna, Coinbase, Starbucks, Pinterest, Kraft Heinz, Etsy (NASDAQ:ETSY), MicroStrategy and Virgin Galactic.
As it’s a new month, that brings the big US jobs report, with other macro news in the week such as a host of PMI surveys, EU inflation and UK housing and consumer credit data.
MONDAY 31 JULY
Kicking off another busy week there will be results from education group Pearson, where interim numbers will act as a “positive catalyst” for shares in the education group according to Citi.
Significant results and announcements on Monday
Interims: Hutchmed (China) Limited, Pearson, Quartix Technologies PLC, Spectris PLC (LSE:SXS)
US earnings: Arista Networks
AGMs: B90 Holdings (AIM:B90) PLC, Keras Resources PLC (AIM:KRS), Live Company Group PLC (AIM:LVCG), OnTheMarket PLC (AIM:OTMP), Tintra PLC (AIM:TNT)
Economic announcements: Consumer Credit (UK), M4 Money Supply (UK), Mortgage Approvals (UK)
TUESDAY 1 AUGUST
On Tuesday comes big oil, booze and sausage rolls, with BP and Greggs.
Like peer Shell a week earlier, BP’s second-quarter results are expected to see a significant slowdown driven by lower commodity prices, but still strong enough cashflows to funnel plenty of returns for shareholders.
Diageo PLC (LSE:DGE) reports for the first time since the death of its chief executive Ivan Menezes last month. The focus will be on business though, with analysts disagreeing on prospects for the Johnnie Walker and Guinness maker, though a global trend towards Scotch whisky consumption is one sure trend, Barclays said recently.
Over at the sausage-roll king, Greggs PLC (LSE:GRG) which two months ago warned that high costs were likely to stick around, we should see in the results if sales are slowing more than inflation.
In the US, the Tuesday reporters include Pfizer, where analysts aren’t overly optimistic about the pharma company’s second quarter.
Significant results announcements on Tuesday
Finals: Filtronic PLC (LSE:FTC)
Interims: BP PLC (LSE:BP.), Diageo PLC, Domino’s Pizza Group PLC, Fresnillo PLC (LSE:FRES), Greggs PLC, Robert Walters PLC (LSE:RWA), Staffline Group PLC (AIM:STAF), Travis Perkins (LSE:TPK) PLC
Trading updates: Virgin Money UK PLC (LSE:VMUK)
US earnings: Caterpillar, Merck & Co, Pfizer, Advanced Micro Devices, MicroStrategy, Pinterest, Starbucks, Uber Technologies, Virgin Galactic
AGMs: NextEnergy Solar Fund Ltd (LSE:NESF), Syncona Limited (LSE:SYNC)
Economic announcements: BRC Shop Price Index (UK), Nationwide House Price Index (UK), PMI Manufacturing (UK), PMI Manufacturing (US), Construction Spending (US), ISM Manufacturing (US), Auto Sales (US)
WEDNESDAY 2 AUGUST
Wrapping up London’s blue chip bank reporting season, HSBC Holding PLC has been tipped to be one of the lending pack that hikes full-year guidance at its interims – as several of its peers did in the preceding week.
Defence contractor BAE Systems PLC (LSE:BA.) reports half-year numbers fresh from winning a host of contracts, including from the UK, Israel and Saudi Arabia. Could this lead the group to bump up its dividend and share buyback plans?
Haleon PLC (LSE:HLN, NYSE:HLN), maker of Sensodyne toothpaste, Centrum vitamins and Panadol painkillers, could announce some job cuts alongside its results on Wednesday and maybe the sale of one of its 'non core' brands, according to recent reports.
The shares were recently highlighted by Morgan Stanley as one of many British blue chips firmly on the bargain list against a backdrop of mid-cap takeovers.
In the UK housing sector, which will be one of the sub-plots of the week, Taylor Wimpey was in a buoyant mood when it last updated in May, so how the housebuilder’s tone has changed will be the focus of its interims.
Significant announcements on Wednesday
Finals: TheWorks.co.uk PLC (LSE:WRKS)
Interims: BAE Systems PLC, ConvaTec Group PLC (LSE:CTEC), Direct Line Insurance Group PLC (LSE:DLG), Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF), Ferrexpo PLC (LSE:FXPO), Haleon PLC, HSBC Holdings PLC (LSE:HSBA), IP Group PLC (LSE:IPO), Man Group PLC (LSE:EMG), Smurfit Kappa Group plc (LSE:SKG), Spirent Communications (LSE:SPT) PLC, Taylor Wimpey PLC (LSE:TW.)
Trading updates: Endeavour Mining PLC
US earnings: The Kraft Heinz, Etsy, Lemonade, Occidental Petroleum, PayPal Holdings, Qualcomm, Shopify, Unity Software
AGMs: Bushveld Minerals Ltd, JPMorgan Global Core Real Assets Limited, Livermore Investments Group Ltd, Sequoia Economic Infrastructure Income Fund Ltd, Wizz Air Holdings PLC (AIM:WIZZ)
Economic announcements: MBA Mortgage Applications (US), Crude Oil Inventories (US)
THURSDAY 3 AUGUST
Before the Bank of England monetary policy committee decision on whether to hike rates to 5.25% or 5.5%, Thursday brings stock markets, engines and resolutely untrendy clothing, with LSE, Rolls-Royce and Next.
London Stock Exchange’s interims next Thursday will see investors focused on costs, says UBS.
Rolls-Royce Holdings PLC (LSE:RR.) recently provided a surprise update the week before its results, which may not be as rose-tinted as it seems, analysts said.
While its clothing may not be the most exciting, Next PLC (LSE:NXT) results rarely fail to impress and this week’s should be no exception.
Across the pond, it's a big earnings day with Apple and Amazon standing out.
The former is expected to report a year-over-year decline in both profit and sales, while on the latter, analysts appear increasingly confident in the stock.
Significant announcements on Thursday
Interims: Helios Towers PLC (LSE:HTWS), Hikma Pharmaceuticals PLC (LSE:HIK, OTC:HKMPF), London Stock Exchange Group PLC (LSE:LSEG), Mears Group PLC (AIM:MER), Morgan Sindall Group PLC (LSE:MGNS), Quilter PLC (LSE:QLT), Rolls Royce Holdings PLC, Serco Group PLC (LSE:SRP), Shaftesbury Capital PLC, Smith & Nephew PLC (LSE:SN)
Trading updates: Next PLC, Wizz Air Holdings PLC
US earnings: Alibaba Group (NYSE:BABA), Ball Corp, Fiverr International, Moderna, Airbnb, Amazon.com, Amgen, Apple, Block, Coinbase Global, Gilead Sciences
AGMs: Caffyns PLC (LSE:CFYN), Distil (AIM:DIS) PLC, Edenville Energy PLC (AIM:EDL), Investec PLC (LSE:INVP), UKR Product Group PLC
Ex-divideds reduce FTSE by 11 points: BT Group, Unilever, Lloyds, Reckitt Benckiser, RELX, Rentokil
Economic Announcements: PMI Composite (UK), PMI Services (UK), BoE Interest Rate Decision (UK), Continuing Claims (US), Initial Jobless Claims (US), PMI Composite (US), PMI Services (US), Factory Orders (US), ISM Prices Paid (US), ISM Services (US)
FRIDAY 4 AUGUST
Finishing off the week, ahead of the financial traders’ must-watch NFP jobs report, there will be numbers from advertising group WPP.
These arrive hot on the heels of a warning from broadcaster ITV of the worst advertising recession since the financial crisis.
Significant announcements on Friday
Interims: Capita PLC (LSE:CPI). The Renewables Infrastructure Group Limited (LSE:TRIG), WPP PLC (LSE:WPP)
Trading updates: Pets at Home Group PLC (LSE:PETS)
AGMs: Concurrent Technologies (AIM:CNC) PLC, Telecom Plus PLC (LSE:TEP)
Economic Announcements: PMI construction (UK), Non-Farm Payrolls (US)