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Quiet Friday to see update flow from Pennon Group

The water utility group is likely to be watched closely for any changes to its dividend policy, while UK consumer confidence data and US durable goods orders will populate the macro calendar

Pennon Group PLC - Quiet Friday to see update flow from Pennon Group

The final day of the week will be a quiet one for the corporate calendar, with water firm Pennon Group PLC (LON:PNN) the only major firm expected to deliver an update.

 The utility firm will be eyed to see how it has held up compared to its peer United Utilities Group PLC (LON:UU.), which on Thursday reported that its revenue and profit are expected to be lower than the first half of last year due to lower water consumption from businesses as a result of the coronavirus pandemic.

Another key area of focus will be the status of the dividend, with Pennon having lifted its payout in June and saying previously that it will grow it at 2% above inflation over the next five years, so the market will want to know whether the promise holds up.

On the macro front, the diary is also sparse, although some traders will be keeping an eye on the UK’s GfK consumer confidence data and car production for more clarity on how the economy could proceed in the coming months as pandemic restrictions are tightened again.

There will also be some data from across the Atlantic in the form of US durable goods orders for August, which will provide some clarity on whether the US rebound from lockdown is still managing to maintain momentum.

Significant announcements for Friday September 25:  

Trading announcements: Pennon Group PLC (LON:PNN)

Interims: Camellia PLC (LON:CAM)

Economic data: UK GfK consumer confidence, UK car production, US durable goods orders

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