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The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Aerospace

Week ahead: UK inflation, easyJet and Entain the headline grabbers

After last week’s bumper chunk of macro news, company matters swing back into focus again.

Most of the main corporate action takes place in the US with banks and Netflix among the standouts as the quarterly earnings season restarts.

Here in the UK, bookie Entain, a trio of recruiters, wealth manager AJ Bell and pest control specialist Rentokil are ones to watch for as on-diary company newsflow picks up.

One exception to the corporate news will be UK inflation numbers on Wednesday with another sizeable reduction being predicted by many economists.

Monday 15 April

The main focus from investors in fund manager Ashmore Group (LSE:ASHM) will be on its net flows.

UBS forecasts US$0.9bn of outflows in the quarter while consensus forecasts outflows are for US$1.0bn.

Ashmore has reported outflows in each of the past 10 quarters with an average US$2bn of quarterly outflows over the past year.

UBS suggests the current share price implies Ashmore will start generating inflows in the second half of the calendar year 2024.

In the US, numbers from heavyweight bank Goldman Sachs Group Inc (NYSE:GS, ETR:GOS) are always noteworthy.

Announcements due:

Trading updates: Kainos Group PLC (LSE:KNOS), Ashmore Group (LSE:ASHM) PLC

Finals: ENGAGE XR Holdings PLC, Itaconix PLC (AIM:ITX, OTCQB:ITXXF)

US earnings: Goldman Sachs

AGMs: C4X Discovery Holdings PLC (AIM:C4XD), I3 Energy PLC, Molecular Energies PLC (AIM:MEN, OTC:PPCGD), Vanquis Banking Group PLC (LSE:VANQ)

Economic announcements: Retail Sales (US), Retail Sales Less Autos (US), Business Inventories (US)

Tuesday 16 April

Payments group Wise updates and whether numbers are still going the right way will be key... read preview

Robert Walters is the second in a trio of updates from recruiters this week that should give a decent on-the-ground insight into economic prospects globally ... read preview

Defence group Qinetiq, meanwhile, should be benefitting from the world getting more dangerous seemingly every day... read preview

Announcements due:

Trading updates: Integrafin Holdings PLC, Ninety One PLC (LSE:N91), Oxford Instruments PLC (AIM:OXIG), QinetiQ Group PLC (LSE:QQ.), Robert Walters PLC (LSE:RWA), Wise PLC (LSE:WISE)

Interims: Gattaca PLC

Finals: Accesso Technology Group PLC (AIM:ACSO, OTC:LOQPF), Billington Holdings Plc (AIM:BILN), Equals Group PLC (AIM:EQLS), Gresham Technologies plc (LSE:GHT), Next 15 Group PLC (AIM:NFG), Team17 Group PLC (AIM:TM17)

US earnings: Bank of America Corp (NYSE:BAC), Johnson & Johnson (NYSE:JNJ), Morgan Stanley (NYSE:MS), UnitedHealth Group Inc (NYSE:UNH, ETR:UNH)

AGMs: Everyman Media Group PLC (AIM:EMAN), Nexus Infrastructure PLC, Nexteq PLC, Porvair (AIM:PRV) PLC, Tullow Oil PLC (LSE:TLW)

Economic announcements: Claimant Count Rate (UK), Unemployment Rate (UK), Building Permits (US), Housing Starts (US), Capacity Utilisation (US), Industrial Production (US), Inflation (CA), GDP (China)

Wednesday 17 April

Takeover speculation is swirling around bookie Entain again even after a raft of management changes... read more

ASOS meanwhile is still a sell for Shore Cap due to Shein's and second-hand platform growth ... read more

Macro news today will all be about UK inflation and whether this is dropping sufficiently to allow the BoE to cut interest rates... read the macro preview

Announcements due:

Trading updates: Entain PLC (LSE:ENT), Brooks Macdonald Group plc (LSE:BRK), Liontrust Asset Management (LSE:LIO) PLC, Rio Tinto PLC

Menhaden Resource Efficiency PLC, Saga PLC (LSE:SAGA), Inspecs Group PLC, M Winkworth Plc (AIM:WINK)

Interims: ASOS PLC (LSE:ASC)

AGMs: Blue Star Capital PLC (AIM:BLU), Hunting PLC (LSE:HTG), Team PLC (AIM:TEAM)

Economic announcements: Consumer Price Index (UK), Producer Price Index (UK), Retail Price Index (UK), MBA Mortgage Applications (US), Crude Oil Inventories (US), Inflation (EU)

Thursday 18 April

Wealth platform AJ Bell has pushing against some pretty strong headwinds recently and UBS says the things to watch for are assets under administration, in particular net flows, and customer numbers.

"AJB has indicated pricing tariff changes from April 2024 so the focus for the Mar quarter will be on business momentum before those changes come in," added the bank

UBS expects second quarter AUA to grow by 13% to £83.7 billion, customers by 11% to 522,0000 with positive net flows of £1.4bn.

Elsewhere, airline easyJet is being tipped to come up with some very good interim numbers ... read preview

Pest controller Rentokil is recovering from a shock warning about US sales and could bounce higher again if the trend continues...read preview

Notable overseas news today includes updates from Taiwan Semiconductor and streaming giant Netflix.

Announcements due:

Trading updates: AJ Bell PLC (LSE:AJB), Dunelm Group PLC (LSE:DNLM), Foxtons (LSE:FOXT) Group PLC, Rentokil Initial PLC (LSE:RTO), Segro PLC, Centamin PLC (LSE:CEY, TSX:CEE, OTC:CELTF)

Interims: easyJet PLC

Finals: Devolver Digital Inc (AIM:DEVO), Keystone Law Group PLC (AIM:KEYS), LBG Media PLC (AIM:LBG), Pod Point Group Holdings PLC (LSE:PODP)

US earnings: Blackstone Inc (NYSE:BX), Taiwan Semiconductor Manufacturing Co Ltd, Intuitive Surgical Inc (NASDAQ:ISRG, ETR:IUI1), Netflix Inc (NASDAQ:NFLX, ETR:NFC)

AGMs: Aquis Exchange Ltd, Harmony Energy Income Trust PLC (LSE:HEIT), Jarvis Securities, Segro PLC, Team Internet Group PLC (AIM:TIG, OTCQX:TIGXF), Thorpe PLC

Economic announcements: Continuing Claims (US), Initial Jobless Claims (US), Philadelphia Fed Index (US), Existing Home Sales (US)

Ex-dividends to reduce FTSE 100 by: 4.72

Friday 19 April

As always Friday is quieter but hedge fund manager Man Group PLC (LSE:EMG) should highlight the risk appetite of institutions at present.

Announcements due:

US earnings: American Express Company (NYSE:AXP, ETR:AEC1), Procter & Gamble Co (NYSE:PG, ETR:PRG), Schlumberger NV (NYSE:SLB)

AGMs: Nostrum Oil & Gas PLC, Symphony Environmental Technologies PLC (AIM:SYM), Uniphar PLC (AIM:UPR)

Economic announcements: GFK Consumer Confidence (UK), Retail Sales (UK)

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