Investors will get a chance to quiz housebuilders and retailers about the potential impact of the EU referendum result in a busy week of corporate updates.
Persimmon PLC (LON:PSN) is first up with a trading update on Tuesday which is likely to be robust, although investors will focus on any difference in business before and after the vote result.
Reports have suggested the referendum is likely to depress house prices, which is bad for sellers but potentially good for first-time buyers.
Numis Securities analyst Chris Millington said: “We expect investors to be interested in management’s possible actions in light of the referendum result, in terms of land purchases, new developments and recruitment.”
Bovis Homes PLC (LON:BVS) also has a trading statement on Thursday, but analysts at Peel Hunt say they do not expect much detail about reservations or cancellations since the vote.
Peel’s Clyde Lewis said: “We believe it is too soon after the EU referendum to form a clear picture of how demand is shaping up and we expect management to keep its powder dry.”
Lewis expects Bovis to report H1 completions of about 1,600 units (H1 2015: 1,525) and pricing to have moved ahead by 5-6% due to underlying inflation and change in mix.
Investors in Marks & Spencer PLC (LON:MKS) will hope for news of a long-awaited upturn in the retailer’s clothing business when it updates on trading on Thursday.
New chief executive Steve Rowe is facing pressure to turn around the performance of the division after predecessor Marc Bolland failed to revive its fortunes.
Numis analyst Andrew Wade said: “Looking ahead to Q1, we expect food LFL to remain flat, while we see scope for the general merchandise LFL run-rate to come in below that anticipated for the full-year.
“The first quarter has the toughest comp, there were unfavourable weather trends in April and June, and BHS had clearance activity; against this, material investments in price are clearly starting to come through, which should begin to boost volumes.
“The shares, post the referendum sell-off, are now trading on c.10x cal-17 earnings and, although we believe the long-standing issues in GM will prove difficult to solve, appear to be offering value.”
Monday
Trading statement: Kier Group PLC (LON:KIE)
Tuesday
Finals: Imagination Technologies (LON:IMG)
Trading statement: Persimmon (LON:PSN); The Gym Group PLC (LON:GYM); Connect Group PLC (LON:CNCT)
Production report: Ferrexpo PLC (LON:FXPO)
Wednesday
Trading statement: Booker Group (PLC (LON:BOK); Carillion PLC (LON:CLLN)
AGM: Sainsbury (J) Plc (LON:SBRY)
Thursday
Finals: Sports Direct International PLC (LON:SPD); NCC Group Plc (LON:NCC)
Trading statement: Associated British Foods Plc (LON:ABF); Bovis Homes PLC (LON:BVS); Dunelm Group Plc (LON:DNLM); Marks & Spencer PLC (LON:MKS); Premier Oil PLC (LON:PMO); Robert Walters Plc (LON:RWA)
Production results: Centamin PLC (LON:CEY)
AGM: Atalaya Mining; Great Portland Estates Plc (LON:GPOR)
Friday
Trading statement: Low & Bonar Plc (LON:LWB)
AGM: Aveva Group Plc (LON:AVV)