The UK results season and US earnings season both kick into gear this coming week, including names like Rio Tinto, Frasers and QinetiQ, Netflix and Goldman Sachs.
A packed economic calendar brings fresh UK inflation data, jobs numbers and retail indicators.
Other UK updates include Barratt Redrow, B&M, Experian, SSP, easyJet, Dunelm and Burberry, as well as mining giants Rio Tinto and Antofagasta.
Stateside, eyes will be on the banking sector, with results from JPMorgan Chase, Citigroup, BlackRock, Bank of America, Morgan Stanley as well as some tech names.
Macroeconomic highlights include UK inflation, unemployment and retail sales; plus China GDP, eurozone industrial output and U.S. inflation and housing data.
Monday 14 July
The usual quiet start to the week in terms of corporate diary news puts more focus on Ashmore Group PLC, the emerging markets focused fund manager, and its year-end update.
The FTSE 250 group’s fourth-quarter net flows, market performance and commentary are what will be covered here, with the consensus forecast looking for net outflows of around $0.8 billion.
Any management commentary about client behaviour could move the shares too.
Announcements expected:
Trading updates: Ashmore Group
Interims: Brunner Investment Trust
Economic announcements: Balance of Trade (CHN)
Tuesday 15 July
Barratt Redrow PLC (LSE:BTRW) will be among several FTSE 350 companies reporting on Tuesday, as the London and New York reporting seasons both kick into gear.
The key focus will be on current trading and the full-year outlook, along with comments on the market, where recent developments have included the £100 million settlement paid by the industry to end a competition investigation, reports that Chancellor Reeves is launching a new mortgage guarantee scheme to go with recent announcements about support for affordable housing funding and planning relief, while house prices have been in a summer lull.
A profit warning from smaller rival MJ Gleeson led to sector shares subsiding, but a more recent update from mid-cap Bellway settled nerves, nudging up guidance for completed sales and average selling prices.
Ahead of a quarterly update from B&M European Value Retail SA (LSE:BME), which will be the first under new CEO Tjeerd Jegen, some analysts have been lifting their expectations.
Citi said early first-quarter figures pointed to a return to positive like-for-like growth for the discounter, with till roll data suggesting UK total sales up around 9% year on year for the first 11 weeks of the quarter.
Across the Atlantic, quarterly results from big banks and investment groups before the opening bell in New York are the signal that US earnings season is now underway.
This includes Citigroup, JPMorgan Chase, Wells Fargo and Bank of New York Mellon, along with BlackRock and State Street.
Announcements expected:
Trading updates: Atalaya Mining Copper, Barratt Redrow, B&M European Value Retail, Experian, IntegraFin Holdings, NCC Group, Robert Walters, SSP Group
Interims: RM
Finals: Brickability Group, Northern Bear, Sosandar
Overseas earnings: BlackRock, Citigroup, JPMorgan Chase, Wells Fargo, Bank of New York Mellon, State Street, Omnicom (all US pre-market)
Economic announcements: BRC Sales Monitor (UK), GDP (CHN), Retail Sales (CHN), Unemployment (CHN), Industrial Production (EU), Inflation (US), Redbook (US), API Crude Oil Stock Change (US)
Wednesday 16 July
There will be second-quarter operational updates from two FTSE 100 miners on Wednesday, Rio Tinto Ltd (LSE:RIO) and Antofagasta PLC (LSE:ANTO), coming on the back of a month where the sector index has been creeping higher.
At first quarter results in April, Rio trimmed 2025 iron ore guidance by around 7Mt to the "lower end" of 323-338Mt range due to weather disruption earler in the year, with UBS saying the company should be "on track to meet this revised guidance", while copper is forecast to see Q2 production of around 210kt, flat on the Q1.
More US banks are reporting too, namely Goldman Sachs and Morgan Stanley.
UK inflation is expected to have remained around 3.4% in June, roughly unchanged for the third consecutive month, well above the Bank of England’s 2% target.
Announcements expected:
Trading updates: Antofagasta, Hunting, Intermediate Capital Group, Rio Tinto
Interims: Trustpilot Group
Finals: Cohort, Creightons, TwentyFour Income Fund
Overseas earnings: ASML (NL), Johnson & Johnson, Bank of America, Goldman Sachs, Morgan Stanley (all US pre-market)
Economic announcements: Inflation (UK), House Prices Index (UK), Balance of Trade (EU), PPI (US), Industrial Production (US), Beige Book (US), EIA Crude Oil Stocks Change (US)
Thursday 17 July
Mike Ashley's Frasers Group PLC (LSE:FRAS) reports its first numbers since interims last December, though the company has hardly been quiet with its dealmaking and other external manoeuvres in the months since, such as disputes with Boohoo and funding for Mulberry.
Sales and profits fell in the first half, with guidance given for adjusted profit growth of between 1% and 10%...read more
QinetiQ Group PLC (LSE:QQ.) will load up a first-quarter trading update that comes just a few weeks after the defence technology specialist’s shares were powered to an all-time high by the publication of the UK’s new strategic defence review.
That came just days after the FTSE 250-group revealed it had taken “decisive action" to restructure its business, including agreeing a five-year extension to its long-term partnering agreement with the UK's Ministry of Defence.
Some analysts think Qinetiq remains one of those still occupying the UK defence sector’s undervalued pockets…read more
US earnings season welcomes its first big tech name, with Netflix, while for those focused on the AI trade, there will also be quarterly numbers from microchip making giant TSMC.
TSMC reported slower sales momentum in the last month of the quarter after a strong performance in April and May.
Announcements expected:
Trading updates: BHP Group, Diploma, Dunelm Group, easyJet, Qinetiq, SSE, Wise
Interims: Ocado
Finals: Ilika, Frasers
Overseas earnings: Abbot Laboratories, PepsiCo, TSMC, Marsh & McLennan, Novartis, Volvo (all pre-market open), Interactive Brokers, Netflix (after close)
Economic announcements: Unemployment (UK), Inflation (EU), Retail Sales (US), Initial Jobless Claims (US), Philadelphia Fed Manufacturing Index (US), Philly Fed Business Conditions (US), Business Inventories (US), NAHB Housing Market Index (US)
Friday 18 July
Burberry Group PLC (LSE:BRBY) is on the City catwalk as the week comes to an end, with analysts falling over themselves to back the British fashion house as it follows an extended period of weaker trading with glimpses of positive growth this year.
The luxury sector had in recent months become "rarely oversold", according to UBS, creating an attractive short-term opportunity, while the trench-coat and handbag maker’s brand momentum was also showing signs of improvement, according to Morgan Stanley.
Announcements expected:
Trading updates: Burberry
Interims: Bridgepoint Group
Overseas earnings: 3M, American Express, Charles Schwab, SLB/Schlumberger (all pre-market)
Economic announcements: Building Permits (US), Housing Starts (US), Michigan Consumer Sentiment (US)