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The Markets
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The Markets
by Proactive
Proactive UK has moved.
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Archive

Legal & General, housebuilders, IHG, Entain and more: Week ahead

After a busy period of blue-chip interims, with nearly every company in the FTSE 100 having reported, attention will now turn to some of the mid-cap companies.

While FTSE 250 reporting will dominate proceedings, there are a few stragglers from the FTSE 100 still set to issue their interims.

Included in this list is insurance giant Legal and General, with investors in the firm hopeful that the latest Bank of England interest rate decision will prove beneficial going forward.

Britain’s central bank cut rates to 5.0% from 5.25% at the monetary policy committee meeting on 1 August, saying it was a "finely balanced" decision and that further cuts might not be on their way.

It was a close 5-4 vote by the members of the MPC, swinging from the 7-2 majority in favour of holding rates last time.

Housebuilders Persimmon and Bellway will also issue updates, with the two likely to benefit from the lowered interest rates as it allows demand to increase for mortgages.

However, for Bellway a more forthright question will be on the mind of its investors. Will it acquire rival Crest Nicholson?

Surrey-based Crest said it was minded to recommend Bellway’s all-share approach, which values it at around £720 million or 273p per share.

Prior to the election, consolidation among the housebuilders had been accelerating but with the new government promising to build new homes everywhere attitudes may have changed.

Other companies updating include Holiday Inn owner IHG, Ladbrokes owner Entain, acquisition target Hargreaves Lansdown and WPP.

In the world of macroeconomics, the first full week of August will see some important data but not on the same scale as last five days.

Services PMI data on Monday will be closely watched in China after the manufacturing equivalent surprisingly fell into contraction territory.

Eagle-eyed economists will also be focused on the US, European and UK data as the odds on the next big central bank decisions are weighed.

Monday 5 August

UK PMI's start out a week that will see house price and retail sales under the magnifying glass... read more

Announcements due:

Interims: Clarkson PLC (LSE:CKN), Kosmos Energy Ltd (LSE:KOS, NYSE:KOS)

AGMs: Downing Strategic Micro-Cap Investment Trust PLC (LSE:DSM), Regional REIT (LSE:RGL) Ltd, Windar Photonics PLC (AIM:WPHO), NewRiver REIT PLC (LSE:NRR)

US earnings: Lucid Group Inc (NASDAQ:LCID), Palantir Technologies Inc (NYSE:PLTR)

Economic announcements: PMI Composite (EU), PMI Services (EU), Producer Price Index (EU), PMI Composite (US), PMI Services (US), ISM Prices Paid (US), ISM Services (US) PMI Composite (UK), PMI Services (UK)

Tuesday 6 August

Domino’s Pizza Group PLC shareholders will be hoping for a Euros-driven sales boost... read more

Abrdn's search for a new chief executive will primarily be on investors’ minds... read more

Investors in the travel sector should see some reassurance from Intercontinental Hotels Group PLC (LSE:IHG)... read more

Announcements due:

Finals: Hargreaves Services Plc (AIM:HSP, OTC:HGRVF)

Interims: Abrdn PLC (LSE:ABDN), Abrdn Equity Income Trust PLC, Domino's Pizza Group PLC, Genel Energy PLC (LSE:GENL, OTC:GEGYY), Intercontinental Hotels Group PLC (LSE:IHG), Iwg PLC, Keller Group PLC (LSE:KLR), Morgan Advanced Materials plc (LSE:MGAM), Maxcyte INC, Rotork PLC (LSE:ROR), Sig PLC, Spirent Communications (LSE:SPT) PLC, Travis Perkins (LSE:TPK) PLC, Xp Power Limited, Zotefoams PLC (LSE:ZTF)

AGMs: Eqtec PLC, Syncona Ltd

US earnings: Amgen Inc (NASDAQ:AMGN, ETR:AMG), Caterpillar Inc (NYSE:CAT, ETR:CAT1), Airbnb Inc (NASDAQ:ABNB, ETR:6Z1), Illumina Inc (NASDAQ:ILMN, ETR:ILU), Rivian Automotive Inc (NASDAQ:RIVN), Super Micro Computer Inc (NASDAQ:SMCI), Uber Technologies Inc (NYSE:UBER, ETR:UT8), Upstart Holdings Inc

Economic announcements: Retail Sales (EU), Balance of Trade (US) BRC Sales Monitor (UK), PMI Construction (UK)

Wednesday 7 August

Glencore said it would reveal its demerger plans for a coal arm at its interims... read more

Advertising spend has been a net loser amid the global inflation cycle, but WPP could soon be seeing green shoots... read more

Coca Cola HBC AG (LSE:CCH) should unveil solid delivery on targets and even an increase in guidance... read more

Legal & General Group PLC (LSE:LGEN) will hopefully provide some insights into its rumoured sale of its housebuilding subsidiary... read more

Announcements due:

Interims: Bank of Cyprus Holdings PLC, Tritax Big Box REIT PLC (LSE:BBOX), Coca-Cola Hbc AG, 4Imprint Group PLC, Glencore PLC (LSE:GLEN), Hiscox Ltd (LSE:HSX), Ibstock PLC (LSE:IBST), Legal & General Group PLC (LSE:LGEN), Quilter PLC (LSE:QLT), Tp Icap Group PLC, Wheaton Precious Metals Corp (LSE:WPM, TSX:WPM, NYSE:WPM). Com Shs Npv Cdi, Wpp PLC

Trading updates:

AGMs: Bushveld Minerals Ltd

US earnings: Markel Group Inc, Novo Nordisk (NYSE:NVO) A/S, Shopify Inc (TSX:SH., NYSE:SHOP), The Walt Disney Co, Jackson Financial Inc, Occidental Petroleum Corp (NYSE:OXY)

Economic announcements: MBA Mortgage Applications (US), Crude Oil inventories (US), Consumer Credit (US), Halifax House Price Index (UK)

Thursday 8 August

Britain’s labour market remains extremely tight, and PageGroup results are not expected to set the world alight... read more

Investors of Entain PLC (LSE:ENT) will be hoping that its interims bring a better reaction than its update for BetMGM did... read more

Persimmon PLC (LSE:PSN) has been recovering after a difficult 2023... read more

Derwent London PLC (AIM:DLN) shares trade at a 25% discount to its December 2023 NAV, with investors still wary of commercial property... read more

Announcements due:

Trading updates: Allianz Technology Trust PLC (LSE:ATT)

Interims: Beazley PLC (LSE:BEZ), Derwent London PLC (AIM:DLN), Harbour Energy PLC (LSE:HBR), Hikma Pharmaceuticals PLC (LSE:HIK, OTC:HKMPF), Hill & Smith PLC, Helios Towers PLC (LSE:HTWS), Impact Healthcare REIT PLC (LSE:IHR), Lancashire Holdings Limited, Morgan Sindall Group PLC (LSE:MGNS), PageGroup PLC (LSE:PAGE), Persimmon PLC (LSE:PSN), Spirax-Sarco Engineering (LSE:SPX) PLC, Savills PLC (LSE:SVS), Ti Fluid Systems PLC, Entain PLC (LSE:ENT), Hostelworld Group PLC

AGM: Chaarat Gold Holdings Ltd (AIM:CGH), Harvest Minerals Limited, Investec PLC (LSE:INVP), Marks Electrical Group PLC (AIM:MRK), Oracle Power PLC (AIM:ORCP), TwentyFour Select Monthly Income Fund Ltd

US earnings: Eli Lilly and Co (NYSE:LLY), Viatris Inc (NASDAQ:VTRS, ETR:VIA), Gilead Sciences Inc (NASDAQ:GILD, ETR:GIS), Take-Two Interactive Software Inc (NASDAQ:TTWO), The Trade Desk Inc, Unity Software Inc (NYSE:U)

Ex-dividends to reduce FTSE 100 by: 13.93

Economic announcements: Continuing Claims (US), Initial Jobless Claims (US), Wholesales Inventories (US), RICS Housing Market Survey

Friday 9 August

Bellway PLC (LSE:BWY)'s trading update comes a day after the formal offer deadline on its approach for rival housebuilder Crest Nicholson... read more

Hargreaves Lansdown PLC (LSE:HL.) will reveal how initiatives to give a fairer deal on customers’ idle cash have cost... read more

Announcements due:

Trading updates: Bellway PLC (LSE:BWY)

Interims: The Renewables Infrastructure Group Ltd

Finals: Hargreaves Lansdown PLC (LSE:HL.)

US earnings: Berkshire Hathaway Inc (NYSE:BRK.B)

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