London stocks are going to keep followers busy this week, with companies such as AB Foods, Bunzl, Ocado, Flutter, ITV, Croda, Persimmon, and Pearson expected to announce their trading updates.
In the US, companies like AMC, HP, NIO, Plug Power (NASDAQ: PLUG), Rivian, Virgin Galactic, and Zoom Video are also set to release their financial results.
Monday 27th Febuary
The upcoming week will kick off with a highly active start, led by Associated British Foods PLC (LSE: ABF), the owner of Primark, as it releases a pre-close trading update. In its last statement, ABF revealed that its festive sales had surged by 20%. Ahead of the week’s numbers, many analysts have been somewhat evasive.
On Monday, Bunzl PLC (LSE: BNZL), a distributor of single-use products, including packaging and safety items, will also be releasing its financial results. Expectations are high, with projected revenues of around 10% due to higher prices and acquisitions. A December update also indicated higher profit margins.
There are several significant announcements expected on Monday, including finals from several companies such as Bunzl PLC, CentralNic Group PLC (AIM: CNIC), GlobalData PLC (AIM: DATA), Greencoat Renewables PLC (LSE: GRP), RH (NYSE: RH) Magnesita NV, Senior PLC (LSE: SNR), Smith & Nephew PLC (LSE: SN), and Spectral MD Holdings Ltd (AIM: SMD).
Interims are expected from Beeks Financial Cloud Group PLC (AIM: BKS) and Dechra Pharmaceuticals PLC (LSE: DPH). Associated British Foods PLC will release its trading update, while Carrs Group PLC, Oncimmunce Holdings PLC, and Ramsdens Holdings PLC (AIM: RFX) will hold their AGMs.
In the US, the economic announcements will include Durable Goods Orders and Pending Homes Sales, and companies like Viatris and Zoom Video Communications will report their earnings.
Tuesday 29th Febuary
Ocado Group PLC (LSE: OCDO) faced four profit warnings last year, and as a result, the market is uncertain about the outcome of the full-year results on Tuesday, as the shares have remained relatively stable since early November. Although many analysts have expressed doubts about the company in recent months, it has been known to surprise with both good and bad news.
Today, there are several busy results season announcements, including blue-chip companies and FTSE 250 names. Croda International PLC (LSE: CRDA) has been highlighted by AJ Bell analysts for being one of the fifteen FTSE 100 members that have grown their annual dividend every year for at least a decade. With a growth streak that dates back to 1999, the board has approved an 8% increase in the interim dividend for 2022. Analysts expect higher full-year payments for 2022 and 2023, with the consensus forecast anticipating 110p and 114p, respectively.
Croda’s exceptional track record is due to its high operating margins, which result in substantial profits and cash flow. In the US, retail investor favourites such as cinema chain AMC Entertainment, electric vehicle maker Rivian, and space tourism hopeful Virgin Galactic are expected to make significant announcements on Tuesday. Virgin Galactic recently reaffirmed its goal of commencing commercial space flights in the upcoming quarter.
On Tuesday, several companies are expected to make significant announcements. These include Abrdn PLC (LSE:ABDN), Derwent London PLC (AIM:DLN), Hutchmed (China) Limited, Intertek Group PLC (LSE:ITRK), Man Group PLC (LSE:EMG), Morgan Advanced Materials plc (LSE:MGAM), Ocado Group PLC, Rotork PLC (LSE:ROR), Serco Group PLC (LSE:SRP), St James’s Place PLC, Travis Perkins (LSE:TPK) PLC, Uniphar PLC (AIM:UPR), Unite Group PLC (LSE:UTG), Videndum PLC (LSE:VID), Vitec Group PLC, and XP Power Limited.
Interim announcements will be made by Bluefield Solar Income Fund (LSE:BSIF) Limited and McBride PLC (LSE:MCB). Additionally, Aberdeen Diversified Income and Growth Trust PLC, Newmark Security PLC (AIM:NWT), Velocity Composites PLC, and Watkin Jones PLC (AIM:WJG) will hold AGMs.
The economic announcements for the day are the House Price Index (US), Chicago PMI (US), and Consumer Confidence (US). US earnings on Tuesday include AMC Entertainment, HP, Occidental Petroleum, Rivian Automotive, and Virgin Galactic.
Wednesday 1st March
Goldman Sachs predicts that Aston Martin Lagonda Global Holdings PLC (LSE: AML) will show signs of a moderate recovery in its full-year results, set to be released on Wednesday.
Reckitt Benckiser Group PLC (LSE: RKT, ETR:3RB), a leading consumer goods maker, will also release its final results, and although UBS analysts expect a mixed update from the company, it has expressed confidence in its ability to pass on cost increases. Persimmon PLC (LSE: PSN), a housing blue-chip, will also report this week, and Citi analysts have noted that UK housebuilders and building products sectors have had a strong start to the year due to improving sentiment and expectations of a soft landing, but sustainability relies on mortgage rates and house prices.
In the US, Salesforce, Plug Power, and NIO, one of Tesla’s Chinese competitors, will all report. Additionally, there are significant announcements expected from several other companies on Wednesday, as well as economic announcements and earnings reports from several US companies.
On Wednesday, there will be several significant announcements, including the final results of several companies such as Aston Martin Lagonda, Capital & Counties Properties PLC (LSE:CAPC), GetBusy PLC (AIM:GETB), Nichols PLC (AIM:NICL), Persimmon PLC, Rathbones Group PLC (LSE:RAT, OTC:RTBBF), Reckitt Benckiser Group PLC, and Weir Group PLC (LSE:WEIR). Haydale Graphene Industries PLC will release interim results, while Rathbones PLC will provide trading updates.
River & Mercantile UK Micro Cap Investment Company will hold its AGM.
Additionally, there will be several economic announcements, including the BRC Shop Price Index, Nationwide House Price Index, Consumer Credit, M4 Money Supply, Mortgage Approvals, PMI Manufacturing, MBA Mortgage Applications (US), PMI Manufacturing (US), Construction Spending (US), ISM Prices Paid (US), Crude Oil Inventories (US), and Auto Sales (US).
Several US companies, including NIO, Jackson Financial, Plug Power, Salesforce, and Snowflake, will also report earnings on Wednesday.
Thursday 2nd March
ITV PLC (LSE: ITV) is set to report its full-year results on Thursday, which are expected to showcase a surge in viewership numbers in January. This boost was driven by the FIFA World Cup and the new ITVX streaming platform. The company may also provide an update on the review of its Studios business, which has reportedly drawn interest from Hollywood. While ITV shares have risen by 5% in the past year and are higher than pre-pandemic levels, they have been outperformed by Flutter PLC, the owner of Paddy Power, which has surged by a third and is now valued at £24bn.
Investors will be keen to hear about the US-based FanDuel sports betting business, given the increasing liberalisation of gambling in more states and the potential for further gains. London Stock Exchange Group PLC (LSE: LSEG) is another area of interest, with investors keen to learn about the recent investment from Microsoft, as well as other market uncertainties.
In macro news, attention will be focused on EU inflation numbers, following record-high core inflation of 5.3% in January. Analysts at CMC Markets have suggested that any lack of progress in this area is likely to be a driving force going forward, rather than any continued weakness in headline inflation, which could be a bigger concern for the European Central Bank.
Thursday is expected to bring significant announcements, including the full-year results of several companies. Among these are Alfa Financial Software Holdings Ltd, Anheauser-Busch Inbev, Apax Global Alpha Ltd, Beazley PLC (LSE:BEZ), Cairns Homes PLC, Capita PLC (LSE:CPI), Capital & Regional PLC, Coats Group PLC (LSE:COA), CRH PLC (LSE:CRH), Flutter Entertainment PLC (LSE:FLTR), Grafton Group PLC (ISE:GFTU), Hunting PLC (LSE:HTG), ITV PLC, London Stock Exchange Group PLC, Melrose Industries PLC (LSE:MRO, OTC:MLSPF), National Express PLC, Network International Holdings, PPHE Hotel Group Ltd, Schroders PLC (LSE:SDR), Spire Healthcare Group Plc (LSE:SPI), Synthomer (LSE:SYNT) PLC, Taylor Wimpey PLC (LSE:TW.), Tritax Big Box REIT PLC (LSE:BBOX), and Tyman (LSE:TYMN) PLC.
In addition, the AGMs of Chenavari Toro Income Fund Ltd (LSE:TORG) and Victorian Plumbing PLC are also scheduled. Economic announcements on Thursday include Continuing Claims (US) and Initial Jobless Claims (US).
Furthermore, the FTSE 100 is expected to be reduced by 18.18 points due to ex-dividends from Diageo, Hargreaves Lansdown, HSBC Holdings, and Berkeley Group Holdings. Finally, US earnings reports on Thursday include Broadcom, ChargePoint Holdings, Hewlett Packard Enterprise, and Zscaler.
Friday 3rd March
Pearson PLC (LSE: PSON) and Rightmove PLC (LSE: RMV) are the top stories of the week. Pearson was one of the standout performers in the FTSE 100 in 2022, and although it reported finishing the year in mixed fashion, it announced profits higher than previously guided. Hargreaves Lansdown analysts praised Pearson for its digital transformation momentum, and its shares have risen 47% in the past year, making it the second-highest gainer in the FTSE 100.
On Friday, the latest purchasing managers’ index (PMI) surveys for the UK and other major economies will be released, which could be the most significant macro data of the new month. The most recent PMI numbers indicated an improvement in economic activity at the start of the year, and this slightly improved outlook is expected to continue to be reflected in the latest services PMI update, particularly in Europe and the UK, where energy prices have eased the pressure on consumer wallets.
In the US, the main event will be the ISM report, which jumped from 49.6 in December to 55.2 last month. A modest slowdown to 54.4 from 55.2 is expected, with the employment component also likely to be a leading indicator for next week’s delayed US non-farm payrolls report.
Friday is expected to see a range of significant announcements. Final results are expected from Faron Pharmaceuticals OY, IMI PLC (LSE:IMI), Pearson PLC, Rightmove PLC, and Vesuvius Plc (LSE:VSVS).
Additionally, interim results are expected from Avation PLC (LSE:AVAP), while Guild Esports PLC (LSE:GILD, OTCQB:GULDF) is set to hold its Annual General Meeting (AGM).
In terms of economic announcements, the PMI Composite and PMI Services will be released for both the UK and the US, while the US will also receive the ISM Prices Paid and ISM Services updates.
