Retailers’ results are going to be prominent in the coming week, with those reporting including B&Q owner Kingfisher, Halfords, Dr Martens, AO World and Pets at Home.
A brace of water companies are also coming to market amid recent reports about regulatory fines and a threat of potential a lawsuit over pollution compensation.
It looks a relatively quiet week for macroeconomics, not least because of the US Thanksgiving holiday.
The main numbers may be Wednesday’s flash PMI numbers, while there are some key European sentiment surveys, including the Ifo from Germany.
MONDAY 21 NOVEMBER
Cater Compass and challenger bank Virgin Money are among those to get the week going.
This will be the first investor update from the FTSE 100 ladle-wielder since July, when it upgraded revenue guidance and maintained its profit margin target (see more in the full company preview).
As for Virgin Money UK PLC (LSE:VMUK) for its results on Monday, the outlook for net interest margin is all-important, according to analyst previews, as well what management say about costs and the outlook for bad debts.
Loan losses could for the sector could mushroom as the UK economy struggles, Credit Suisse recently warned.
Significant announcements due on Monday
Interims: Big Yellow Group PLC (LSE:BYG), MTI Wireless Edge PLC, Molten Ventures PLC (LSE:GROW), Polar Capital PLC, Serious Real Estate PLC, SysGroup PLC (AIM:SYS, AQSE:SYS)
Finals: Compass Group PLC (LSE:CPG), Diploma PLC (LSE:DPLM), Genedrive PLC, Virgin Money UK
AGMs: Manchester & London Inv Trust PLC, Scancell Holdings PLC (AIM:SCLP, OTC:SCNLF)
TUESDAY 22 NOVEMBER
On Tuesday, the first of the FTSE 100 trio of water companies, Severn Trent, will update on recent trading.
These results come against a backdrop of a tightening of the regulatory environment for the sector.
Severn Trent's guidance for the full year is for sales to be up around 10% from the regulated water and wastewater business, but with higher operating costs, thanks to upward cost pressures on energy and chemicals, and an increase in the interest bill thanks to higher interest rates on its £6.5bn net debt pile.
That combination underpins analysts’ forecasts for a drop in stated pre-tax profit for the fiscal year to £187mln, against last year’s £274mln (read the water company preview here).
While shares in the water companies are just off their recent 18-month low, those in Telecom Plus PLC (LSE:TEP) stand near all-time highs as the failure of numerous energy suppliers has driven ever more households to its Utility Warehouse platform.
Earlier this year co-chief executive Andrew Lindsay laid out some bullish goals for the current year, including customer growth of at least 20% (read more on the full preview here)
AO World PLC (LSE:AO.) has had it tougher, with its shares sinking to an all-time low in the summer after the online white goods retailer reported a swing to the red.
While the numbers will be under scrutiny, the tone of this update may be more important, one analyst said in their preview of the results.
Defence suppliers Babcock and Avon Protection will also be in focus amid the extra spending on defence this year.
Significant announcements due on Tuesday
Trading updates: Caledonia Investments (LSE:CLDN) PLC, Coats Group PLC (LSE:COA), CRH PLC (LSE:CRH), Petershill Partners PLC (LSE:PHLL), Restore Plc (AIM:RST)
Interims: Accsys Technologies (AIM:AXS) PLC, AO World PLC, Assura PLC, Babcock International PLC (LSE:BAB), CML Microsystems Plc (LSE:CML), Cranswick PLC (LSE:CWK), Helical (LSE:HLCL) PLC, Homeserve PLC (LSE:HSV), Severfield PLC, Severn Trent PLC (LSE:SVT), Tatton Asset Management PLC (AIM:TAM), Telecom Plus PLC, Trifast (LSE:TRI) PLC
Finals: Euromoney Institutional Investor PLC (LSE:ERM)
AGMs: Fonix Mobile PLC (AIM:FNX), Kingswood Holdings PLC, Origin Enterprises PLC, Rainbow Rare Earths Ltd (LSE:RBW, OTC:RBWRF)
US earnings: CrowdStrike Holdings, Hewlett Packard Enterprise, Intuit
WEDNESDAY 23 NOVEMBER
The theme of retailers and water companies continues on Wednesday.
Halfords Group PLC (LSE:HFD) reports after in May warning that sales had slumped, with guidance for full-year profit cut to £65mln-£75mln.
Broker Peel Hunt said it anticipated that Halfords' top line will have “remained resilient” in the run up to this set of interims, though.
The most recent update from pet supplies retailer Pets at Home Group PLC (LSE:PETS) made for better reading, keeping its full year guidance unchanged following revenue growth in the first quarter.
Despite keeping guidance unchanged through robust trading, a rare sight among retailers in all sectors this year, the share price has still fallen (see the preview on Halfords and Pets here).
Elsewhere, North West-focused water company United Utilities PLC is the day's representative from the sector.
Significant announcements due on Wednesday
Trading updates: DP Eurasia NV, Rotork PLC (LSE:ROR)
Interims: DiscoverIE Group PLC, Eckoh PLC (AIM:ECK, OTC:EKTPF), Halfords PLC, HICL Infrastructure PLC, Johnson Matthey PLC (LSE:JMAT), LondonMetric Property PLC (LSE:LMP), Pets At Home Group PLC, United Utilities Group PLC (LSE:UU.)
Finals: Britvic PLC (LSE:BVIC), Ten Lifestyle Group (AIM:TENG) PLC
AGMs: Crystal Amber Fund Ltd, CVS Group (AIM:CVSG) PLC, Fidelity Asian Values PLC (LSE:FAS), Genus PLC (LSE:GNS), Gritt Real Estate Income Group Limited, One Heritage Group PLC (LSE:OHG), Synergia Energy Ltd (ASX:SYN, AIM:SYN)
Economic announcements: PMI Composite (UK), PMI Manufacturing (UK), PMI Services (UK), MBA Mortgage Applications (US), Durable Goods Orders (US), Initial Jobless Claims (US), PMI Composite (US), PMU Manufacturing (US), PMI Services (US), New Home Sales (US), Crude Oil Inventories (US), FOMC Interest Rate Minutes (US)
US earnings: XPeng, Salesforce, Snowflake
THURSDAY 24 NOVEMBER
On Thursday there’s yet more retail action, with Anglo-French DIY group Kingfisher PLC (LSE:KGF) and bootmaker Dr Martens PLC (LSE:DOCS).
The B&Q and Castorama owner already warned about the impact of the cost-of-living crisis this year, with September's interim showing profits down as it came up against an exceptional previous year, but on a three-year basis it was higher (see the full Kingfisher preview here).
Dr Martens PLC “should be well underpinned” ahead of its first half results released on Thursday, said RBC Capital Markets in its preview.
The focus of the results for investors will be on retail exit rates in key markets in the US and EMEA over October and November, analysts said.
Significant announcements due on Thursday
Trading updates: Intertek Group PLC (LSE:ITRK), Kingfisher PLC, Safestore Holdings (LSE:SAFE) PLC
Interims: Augmentum Fintech PLC (LSE:AUGM), Dr Martens PLC, LXi REIT PLC (LSE:LXI), Motorpoint PLC, NewRiver REIT PLC (LSE:NRR), Omega Diagnostics Group PLC (AIM:ODX), Polar Capital Holdings PLC (AIM:POLR), XPS Pensions Group PLC (LSE:XPS)
AGMs: Cloudbreak Discovery PLC (LSE:CDL), EnSilica PLC (AIM:ENSI), Fiske plc (AIM:FKE), MGC Pharmaceuticals Ltd (LSE:MXC, OTC:MGCLF, ASX:MXC), Pan African Resources, PZ Cussons (LSE:PZC) PLC, Sabien Technology Group PLC (AIM:SNT), Zanaga Iron Ore Company Ltd
US earnings: Asana, ZScaler
FRIDAY 25 NOVEMBER
Given Breedon Group Plc (AIM:BREE) operates in end markets more focused on new build construction, especially housing and infrastructure, recent activity is likely to have remained “relatively robust”, said analyst Clyde Lewis at Peel Hunt.
Pressure on fuel and energy costs looks to have stabilised for now, with the group successfully recovering higher inputs through higher selling prices.
“The bigger questions are focused more on volumes, costs and pricing for FY23, but we suspect the group will say little on this for now.”
Over at sausage skin maker Devro, recent positive trends are expected to continuing churning, with first-half volume growth of 4.5% in edible collagen and revenues up 8.8%, helped by higher pricing.
The company had a solid order book and is successfully mitigating inflationary pressures, though numbers were held back by around a £2mln currency impact.
“Currency has turned into a material tailwind as currency hedges have dropped away. This will also materially help next year's numbers,” said Peel Hunt’s Alexander Paterson.
Significant announcements due on Friday
Trading updates: Breedon Group PLC, Devro, Vesuvius Plc (LSE:VSVS)
AGMs: Base Resources Ltd, European Metals Holdings Ltd (AIM:EMH, ASX:EMH, OTC:EMHLF), K3 Capital Group PLC (AIM:K3C), Quadrise Fuels International PLC (AIM:QFI, OTC:QDRSF), ScS Group PLC (AIM:SCS)