Normal service resumes this week for the FTSE 100 after the Easter holiday break with a slew of big names issuing trading updates.
The UK’s banks will garner the headlines. Lloyds Banking, Barclays, NatWest and HSBC are issuing first-quarter updates (read more here) with pharma heavyweight Glaxo and AstraZeneca and several of the housebuilders also on the schedule.
Monday 25 April
Audioboom releases its full-year results on Monday, just a couple of weeks after reporting a record first quarter.
Podcasts are the place to be currently for content so it should be able to maintain the momentum of its record first-half revenues of US$22.8mln, up 93%,
In the third-quarter update, chief executive Stuart Last said the AIM-listed company “significantly outpaced the wider podcast industry and set new revenue and adjusted EBITDA records.”
The share price has reacted accordingly, more than doubling in the last six months to 2,159p and more good results would likely send them up again.
Tuesday 26 April
AB Foods will release interim results on Tuesday, with investors hoping some good news can revive a share price that has plunged 19% this year to 1,653p.
Much of the concern centres around clothing arm Primark and how it is coping with inflation and supply chain issues that have had to be passed on to consumers, though its food businesses will be under similar if not greater pressure.
In its trading update at the end of February, AB Foods said sales were expected to be ahead of pre-Covid levels.
Primark benefits from already being the ‘cheap’ option, meaning it should be able to better navigate the cost-of-living crisis, said the statement.
Big housebuilders begin reporting first-quarter updates in the coming week, the first since the industry committed to remove cladding and remediate fire safety issues in buildings over 11 metres in height built over the past thirty years.
Taylor Wimpey updates today with Persimmon tomorrow (read more here).
Wednesday 27 April
GlaxoSmithKline’s results give management a chance to talk through its US$1.9bn acquisition of Sierra last week, which brokers say looks like a commercial bolt-on to try and build out critical mass in the oncology franchise.
“It’s not the innovative tonic that the pharma story remains clearly in need of,” said Deutsche Bank.
Pending RSV data remains the critical juncture for the GSK story near term, says the broker, though sales of Shingles vaccine Shingrix will also be something to watch in this latest update.
More scrutiny will surely come Glaxo’s way from a read-through of Reckitt Benckiser’s update on the same day though this time it will be centred on Haleon, the soon to be demerged consumer arm.
Reports from the US are that sales of Reckitt’s Mucinex flu treatment are booming and helping it more than offset higher input costs, which remain a key area of concern for investors.
Whether Glaxo can say something similar remains to be seen.
Thursday 28 April
Guess what … inflation is on the agenda again – this time as Domestos, Dove and Wall’s owner Unilever delivers a trading update on Thursday.
The City’s working theory is that Unilever’s strong brand position - a mix of loyalty or inertia stopping customers substituting for cheaper alternatives – will insulate the conglomerate from the worst of it, so the next update will be closely watched for reassurance.
“The personal goods-to-food-to-home care group’s fabulous collection of brands and global reach mean that if any firm can give investors a feel for how companies are managing input costs, pricing and margins, as well as ongoing disruption to global trade flows and the war in Ukraine, then surely Unilever can,” stockbroker AJ Bell said in a note.
UK grocer Sainsbury's will similarly give commentary around prices and competition, it might even make a gesture or two, like Marks & Spencer which in April cut prices of ‘everyday essentials’ and its budget range.
Friday 29 April
AstraZeneca PLC (LSE:AZN)’s AGM Friday should be a cheery affair, given the company is vying with Shell for the title of the UK’s biggest company after a stonking run recently.
Trading news will focus on sales momentum at its blockbusters - Tagrisso, Lynparza and Imfinzi.
The rare disease portfolio acquired with Alexion will also get some attention, especially on Ultomiris patient conversion pace from Soliris.
UBS expects questions on price reduction and China volumes for Tagrisso.
Read the form guide to AstraZeneca’s AGM plus meetings at HSBC, BAT, Glencore, NatWest and the LSE (here)
Monday 25 April
Finals: Arecor Therapeutics PLC (AIM:AREC), Audioboom Group PLC (AIM:BOOM), Frenkel Topping Group (AIM:FEN) PLC
Interims: Lok’n Store PLC
Trading announcements: GlobalData PLC (AIM:DATA), Totally PLC (AIM:TLY)
AGMs: Belluscura Ltd, ECR Minerals PLC (AIM:ECR), Hikma Pharmaceuticals PLC (AIM:HIK, OTC:HKMPF), JPMorgan US Smaller Companies Investment Trust PLC, Symphony International Holdings Ltd
Tuesday 26 April
Finals: Billington Holdings Plc (AIM:BILN), Corero Network Security PLC (AIM:CNS), Futura Medical PLC (AIM:FUM, OTC:FAMDF), Learning Technologies Group PLC (AIM:LTG), Northcoders Group PLC (AIM:CODE), Puretech Health PLC, Warpaint London PLC (AIM:W7L)
Interims: Associated British Foods PLC (LSE:ABF), Focusrite PLC (AIM:TUNE)
Trading announcements: Flutter Entertainment PLC (LSE:FLTR), IWG PLC (LSE:IWG), Jupiter Fund Management PLC (LSE:JUP), National Express PLC, Taylor Wimpey PLC (LSE:TW.)
AGMs: Aquis Exchange Limited, City Pub Group PLC (AIM:CPC), Elementis plc (LSE:ELM), Franchise Brands PLC (AIM:FRAN), GlobalData PLC (AIM:DATA), Maven Income & Growth VCT 5 PLC, Oriole Resources PLC (AIM:ORR), RPS Group (LSE:RPS) PLC, Taylor Wimpey PLC (LSE:TW.), Tissue Regenix Group PLC (AIM:TRX, OTC:TSSNF)
Economic Data: Durable Goods Orders (US), House Price Index (US), Consumer Confidence (US), New Home Sales (US), Public Sector Net Borrowing (UK)
Wednesday 27 April
Finals: 1Spatial (AIM:SPA) PLC, City Pub Group PLC (AIM:CPC)
Interims: AB Dynamics PLC (AIM:ABDP), Go Ahead Group PL, WHSmith PLC, GlaxoSmithKline PLC (LSE:GSK)
Trading announcements: AVEVE Group PLC, Drax Group (LSE:DRX) PLC, Fresnillo PLC (LSE:FRES), Network International Holdings, Persimmon PLC (LSE:PSN), Petropavlovsk PLC (LSE:POG), Reckitt Benckiser Group PLC (LSE:RKT, ETR:3RB)
AGMs: Drax Group (LSE:DRX) PLC, Global Invacom Group (AIM:GINV) Ltd, Global Opportunities Trust, Hutchmed Limited, Lancashire Holdings, London Stock Exchange Group PLC (LSE:LSEG), Nichols PLC (AIM:NICL), Persimmon PLC (LSE:PSN), Primary Health Properties PLC (LSE:PHP, OTC:PHPRF), Seneca Growth Capital VCT Plc (LSE:SVCT), Tern PLC (AIM:TERN).
Economic Data: MBA Mortgage Applications (US), Pending Home Sales (US), Crude Oil Inventories (US)
Thursday 28 April
Finals: Brave Bison (AIM:BBSN) Group PLC, Checkit PLC (AIM:CKT, OTC:ECKTF), HeiQ PLC (LSE:HEIQ), Keystone Law Group PLC (AIM:KEYS), Sainsbury PLC, Sanderson Design Group PLC
Interims: C4X Discovery Holdings PLC (AIM:C4XD)
Trading announcements: ConvaTec Group PLC (LSE:CTEC), Evraz PLC (LSE:EVR), Glencore PLC (LSE:GLEN), Howden Joinery Group (LSE:HWDN) PLC, Inchcape PLC (LSE:INCH), Lancashire Holdings, PPHE Hotel Group Ltd, Smith & Nephew PLC (LSE:SN), Unilever PLC (LSE:ULVR)
AGMs: Arden Partners (AIM:ARDN) PLC, Breedon Group Plc (AIM:BREE), British American Tobacco PLC (LSE:BATS), Capital Limited (LSE:CAPD), CLS Holdings Plc (LSE:CLI), CRH PLC (LSE:CRH), Dalata Hotel Group PLC (LSE:DAL), Devro PLC (LSE:DVO), Flutter Entertainment, Glencore PLC (LSE:GLEN), Glenveagh Properties PLC (LSE:GLV), Grafton Group, Greencoat UK Wind PLC (LSE:UKW), Hammerson PLC (LSE:HMSO), Helios Towers PLC (LSE:HTWS), International Personal Finance (LSE:IPF) PLC, ITV PLC (LSE:ITV), Kerry Group Ltd, NatWest Group PLC (LSE:NWG), Octopus AIM VCT 2 PLC, Premier Miton Global Renewables Trust, Robert Walters PLC (LSE:RWA), Schroders PLC (LSE:SDR), Serco Group (LSE:SRP) PLC, Synthomer (LSE:SYNT) PLC, TOC Property Backed Lending Trust PLC (LSE:PBLT), Weir Group PLC (LSE:WEIR)
Economic Data: Continuing Claims (US), GDP- Preliminary (US), Initial Jobless Claims (US)
Friday 29 April
Interims: UP Global Sourcing Holdings PLC (LSE:UPGS)
Trading announcements: Rotork PLC (LSE:ROR), Smurfit Kappa Group plc (LSE:SKG), Travis Perkins (LSE:TPK) PLC
AGMs: AstraZeneca PLC (LSE:AZN), BBGI Global Infrastructure, Greencoat Renewables PLC (LSE:GRP), Holders Technology (AIM:HDT) PLC, HSBC Holdings PLC (LSE:HSBA), JPMorgan Claverhouse Investment Trust PLC, Kingspan Group PLC (LSE:KGP), Minoan Group PLC (AIM:MIN), Pearson PLC (LSE:PSON), Photo-Me International PLC (AIM:PHTM), Rotork PLC (LSE:ROR), Smurfit Kappa Group plc (LSE:SKG), Travis Perkins (LSE:TPK) PLC
Economic Data: Personal Consumption Expenditures (US), Personal Income (US), Personal Spending (US), Chicago PMI (US), U. of Michigan Confidence (US), Nationwide House Price Index (UK).