It’s set to be a relatively quiet Friday in London, with Smith & Nephew PLC (LON:SN.) one of just a handful of companies known to be reporting to the market.
The artificial hip and knee maker is set to report its third quarter results which analysts are expecting will show a modest rise in revenues to US$1.16bn or so (Q3 2016: US$1.12bn).
The recent hurricanes may have delayed some operations in parts of the US – rival Stryker Corporation (NYSE:SYK) reported a small negative impact – so keep an eye out for any news there.
Even if there is an impact, US investment bank Morgan Stanley doesn’t expect it to slow growth at all.
Chief executive Oliver Bohuon announced earlier this month that he’ll be stepping down from his role next year, so investors will be looking for an update on the search for his replacement.
Smith & Nephew has often stressed that it is an acquirer rather than a takeover target and Morgan Stanley analysts are hopeful of some kind of M&A update.
Upbeat US jobs data expected
Given the lack of expected company news here in London, focus will shift over to the States and to the US economy’s most important data point: October jobs data.
Non-farm payroll figures were battered by the hurricanes in September and showed a 33,000 drop, but economists are predicting a sharp rebound this month as Texas and Florida get back on their feet.
Significant events expected on Friday 3 November:
Trading updates: Smith & Nephew PLC (Q3) (LON:SN.), Informa PLC (Q3) (LON:INF)
Economic data: Halifax house price index; UK services PMI; US non-farm payrolls; US balance of trade; US non-manufacturing ISM; US factory orders