As we move from November into December in the coming week, investors still have plenty to keep them busy before the holiday season, including updates from the last of the blue-chip results, such as Pennon, along with well-followed mid-cap names like AJ Bell, easyJet, Future and Wise, and rising small AIM stars Auction Technology and Cerillion.
The macroeconomic data highlight is likely to be the US non-farm payrolls on Friday, but there's lots more before that, including UK house prices and mortgage numbers as the sector tips into a slowdown.
MONDAY 28 NOVEMBER
The week will start with final results from up-and-coming AIM star Cerillion PLC (AIM:CER), whose shares recently notched an all-time high.
In a trading update last month the billing, charging and customer relationship management software solutions provider said trading was going very well, including the bagging of its largest-ever contract, and that it entered the second half of its financial year with a strong back-order book.
Adjusted profit for the year was flagged as likely to be “materially ahead” of the consensus market forecast.
Elwewhere, ahead of its interims, brick distributor Brickability Group PLC (AIM:BRCK) has said it expects to report first-half growth of around 58% in revenue and roughly 39% in underlying earnings (EBITDA) for the six months to 30 September 2022.
It was a reassuring update despite the “uncertain times”, according to analysts at Cenkos, and underlines the resilience of the operating model.
Significant announcements expected on Monday
Finals: Cerillion PLC (AIM:CER), Home REIT PLC, Induction Healthcare Group PLC (AIM:INHC)
Interims: Brickability Group PLC (AIM:BRCK), JLEN Environmental Assets (LSE:JLEN) Group Ltd, Kinovo PLC (AIM:KINO),
AGMs: Crown Place VCT PLC, JPMorgan Global Emerging Markets Income Trust PLC, PRS REIT, Seeing Machines Ltd (AIM:SEE, OTC:SEEMF), The European Smaller Companies Trust PLC
US/China earnings: Pinduoduo
TUESDAY 29 NOVEMBER
Shares in easyJet PLC last month sank below 280p – which was not only below than their pandemic lows but also the lowest level seen since the wake of the global financial crisis, before a pre-close trading update fuelled a mini-rally.
Still, having topped 900p last year they now stand only slightly higher than a decade ago, despite analysts predicting a profit next year and boss Johan Lundgren hailing “one of the strongest balance sheets in the aviation industry”.
Some of the issues to look at in easyJet's upcoming numbers include costs, recession demand and competition.
Marston’s PLC (LSE:MARS) final year results come against a tough backdrop for the pub sector.
Sales improved in the fourth quarter and anecdotal evidence recently suggests the World Cup might be helping the bigger sector players, while costs are also a problem area analysts highlighted for attention in Tuesday’s numbers.
In the fintech sector, there will be results from payments and money transfer company Wise PLC (LSE:WISE), which upped its full-year guidance when it reported on trading last month.
With shares doubling since the summer but then selling off in recent weeks, which set of investors is wise before the event, buyers or sellers?
Closing share prices on Tuesday will also decide the shape of the next FTSE 100 and 250 reshuffle, with the promotions and relegations the blue chip and midcap index.
A few days ahead of the result, Harbour Energy PLC (LSE:HBR) was looking like one of the likely relegation candidates.
Significant announcements expected on Tuesday
Finals: Atrato Onsite Energy PLC (LSE:ROOF), easyJet PLC, Focurite PLC, Greencore Group PLC (LSE:GNC), Marstons PLC, Redrow PLC (LSE:RDW) ,Renew Holdings (AIM:RNWH) PLC, Shaftesbury PLC (LSE:SHB), Treatt PLC
Interims: ActiveOps PLC (AIM:AOM), Altitude Group PLC (AIM:ALT), Cordiant Digital Infrastructure Limited PLC, First Property Group PLC (AIM:FPO), GB Group PLC (LSE:GBG), Shearwater Group PLC (AIM:SWG), Supreme PLC (AIM:SUP), Victoria PLC (AIM:VCP), VP PLC (LSE:VP.), Wise PLC (LSE:WISE)
AGMs: Aura Energy Limited PLC, Bluefield Solar Income Fund (LSE:BSIF) Limited, Castillo Copper Ltd (ASX:CCZ, LSE:CCZ), Challenger Energy Group PLC (AIM:CEG, OTC:BSHPF), CT Property Trust Limited, Duke Royalty Ltd (AIM:DUKE), Haydale Graphene Industries PLC, Mosman Oil & Gas Ltd
Economic announcements: Mortgage Approvals (UK), Consumer Credit (UK), M4 Money Supply (UK), House Price Index (US), Consumer Confidence (US)
Notable overseas earnings: Autodesk (NASDAQ:ADSK), CrowdStrike Holdings, DiDi Global, Hewlett Packard Enterprise, Intuit, Li Auto, NetApp
WEDNESDAY 30 NOVEMBER
Publisher Future PLC (LSE:FUTR) may have some headlines to report when it posts full-year results on Wednesday 30 November.
There may some news about boss Zillah Byng-Thorne, after the company denied reports she had left in a huff but admitted she plans to go next year, while analysts are expecting “close to flat” organic growth for the new year.
Talking of headlines, there have been some malodorous ones about the water sector’s sewage issues in recent months, with Pennon’s half-year results coming with a fresh focus on the matter.
Its South West Water arm has many of the country’s best beaches within its arc and it has been in the firing line again in the run-up to the results, with analysts also looking for how much debt interest payments are rising in this week’s numbers.
Cosy Club café-bar-restaurant operator Loungers PLC (AIM:LGRS) is undervalued with the shares lowly rated in comparison to peers, reckons broker Peel Hunt.
In the interim results announcement, the AIM-listed group should confirm whether it still plans 30 new site openings this year and if sales are on track for the broker’s predicted 13% growth.
Significant announcements expected on Wednesday
Trading updates: Loungers PLC (AIM:LGRS)
Interims: Carclo (LSE:CAR) PLC, D4t4 Solutions PLC (AIM:D4T4, OTC:DFORF), Pennon Group PLC (LSE:PNN, OTC:PEGRY), Renalytix PLC (AIM:RENX)
Finals: Contango Holdings (LSE:CGO) PLC, Future PLC (LSE:FUTR), Impax Asset Management (AIM:IPX) Group PLC
AGMs: Atlantic Lithium Ltd, Chamberlin PLC (AIM:CMH), Dunelm Group PLC (LSE:DNLM), Europa Metals Ltd (AIM:EUZ, JSE:EUZ), Ferguson PLC (LSE:FERG), Gabelli Merger Plus Trust PLC, Leeds Group PLC (AIM:LDSG), MC Mining Ltd, Nanoco Group PLC (LSE:NANO), Pires Investments (AIM:PIRI) PLC, Renishaw PLC (LSE:RSW)
Economic announcements: BRC Shop Price Index (UK), Nationwide House Price Index (UK), MBA Mortgage Applications (US), Balance of Trade (US), Gross Domestic product (US), Personal Consumption Expenditures (US), Wholesales Inventories (US), Chicago PMI (US), Pending Home Sales (US), Crude Oil Inventories (US), Beige Book Fed Survey (US)
Notable overseas earnings: XPeng, Salesforce, Snowflake, Royal Bank of Canada (TSX:RY), National Bank of Canada (TSX:NA)
THURSDAY 1 DECEMBER
Auction Technology Group PLC (LSE:ATG) has been one of the successes from the 'class of 21' IPO group, in as much as it has not crashed and burned like Made.com, Parsley Box and Revolution Beauty.
On Thursday investors will get the first update on the performance in the second half of the year from the group that owns the Auction Trade Gazette and websites such as thesalesroom.com, i-bidder.com and US-based liveauctioneers.com.
Other notable results on the day should include investment platform AJ Bell PLC (LSE:AJB), which reported net inflows in its fourth quarter but saw a fall in assets under administration (AuA) for the past year, as declines in markets offset the inflows and growing customer numbers.
The UK’s third largest investment platform was downgraded by its broker Shore Capital ahead of the results with analysts saying, "we love the business, but think valuation is now enough".
Significant announcements expected on Thursday
Interims: DSW Capital PLC (AIM:DSW), Duke Royalty Ltd (AIM:DUKE), Foresight Group Holdings Ltd, Industrial REIT Ltd, James Latham (AIM:LTHM) PLC, Peel Hunt Ltd (AIM:PEEL)
Finals: AJ Bell PLC (LSE:AJB), Auction Technology Group PLC (LSE:ATG)
AGMs: Aptamer Group PLC (AIM:APTA), Bowleven PLC, CQS New City High Yield Fund Ltd, DX PLC, Essensys PLC, James Halstead PLC (AIM:JHD), Kin and Carta PLC, Transense Technologies (AIM:TRT) PLC, Virgin Wines UK PLC (AIM:VINO)
Economic announcements: Continuing Claims (US), Initial Jobless Claims (US), Personal Consumption Expenditures (US), Personal Income (US), PMI Manufacturing (US), Construction Spending (US) ISM Manufacturing (US), PMI Manufacturing (UK)
Notable overseas earnings: Asana, Bank of Montreal (CSE:BMO), ChargePoint Holdings, Dollar General, Kroger, Zscaler
FRIDAY 2 DECEMBER
All eyes on Friday will be on the US non-farm payrolls (NFP) report, which the first week of a new month generally brings.
The data will be keenly watched to see if the aggressive rate rising policy of the Federal Reserve (where the next monetary policy announcement is on 14 December) is denting the jobs market which has so far proved resilient (see more in the full macro preview here).
Significant announcements expected on Friday
Interims: Mind Gym Limited PLC
AGMs: Global Petroleum (AIM:GBP) PLC, Highbridge Tactical Credit Fund Limited, Orosur Mining Inc (AIM:OMI, TSX-V:OMI), Revolution Bars Group PLC, Ruffer Investment Co Ltd, Schroder BSC Social Impact Trust PLC, SLF Realisation Fund Limited
Economic announcements: Non-Farm Payrolls (US), Unemployment Rate (US)