If GSK PLC (LSE:GSK, NYSE:GSK) hoped spinning off its consumer household arm Haleon in July would lead to an instant re-rating to a supercharged US pharma level, it must be sorely disappointed so far.
Shares have barely moved either way since the separation, but next week’s results should give a clearer picture of where new GSK sits in the pharma league table (as explored more fully in the GSK preview).
Next PLC (LSE:NXT) will also update the market with a third-quarter trading statement on Wednesday, and investors will be hoping for no more profit warnings from the high street royalty.
In its interim results issued at the end of September, the FTSE 100 retailer rowed back on its guidance for full-year profit before tax, trimming it back by £20mln to £840mln (as features in the full Next preview).
Stock markets sentiment for the day will be set by some caution ahead of the US Federal Reserve decision later.
Significant announcements on Wednesday
Trading updates: Gem Diamonds Ltd, Hiscox PLC, Morgan Sindall Group PLC, Next PLC, Retonkil Initial PLC, Smurfit Kappa Group plc (LSE:SKG), Weir Group PLC (LSE:WEIR)
Interims: Appreciate Group PLC (LSE:APP), GSK PLC, Novo Nodisk PLC, Wizz Air Holdings PLC (AIM:WIZZ)
AGMs: Hansard Global (LSE:HSD) PLC, IDE Group (AIM:IDE) Holdings PLC, NCC Group PLC
Economic announcements: Federal Reserve decision (US), MBA Mortgage Applications (US), Crude Oil Inventories (US)
US earnings Wednesday: The Estee Lauder Companies, Esty Inc, Liberty Global (NASDAQ:LBTYA) Class A, Qualcomm Inc, Robinhood Markets Inc (NASDAQ:HOOD), Roku Inc (NASDAQ:ROKU)