The upcoming week promises to be quite eventful, featuring reporting from five of the FTSE 100’s top ten, as well as four of the major US tech conglomerates. In addition, there will be meetings from the Federal Reserve, the European Central Bank, and the Bank of Japan, ensuring a continuous flow of significant updates.
In London, top-tier firms such as AstraZeneca, Shell, and Unilever from the top five, along with BAT and GSK from the top ten will be reporting. Other important names include Reckitt, Compass, and Lloyds from the top 20, alongside notable blue-chip banks Barclays and NatWest. Adding to the list are IAG, the owner of British Airways, ITV, Compass, and the Frasers Group.
From the US, companies representing roughly a combined market value of $6 trillion, such as Alphabet, Amazon, Meta, and Microsoft, will be updating their status. Other US corporations including Intel, Spotify, GE, Visa, Mastercard, GM, Ford, Coca-Cola, Keurig Dr Pepper, McDonald’s, AbbVie, Bristol-Myers, Boeing, Chevron, and Exxon Mobil will also be presenting their reports.
Monday, July 24th
The week’s activity will commence on Monday with an update from Vodafone Group PLC (LSE:VOD), the FTSE 100’s poorest-performing stock over the last year. Analysts predict that the first-quarter trading update will likely present a mixed picture.
Other companies from the FTSE 350 to watch include Games Workshop Group PLC (LSE:GAW), the Warhammer owner, which has witnessed a remarkable recovery, with its share price increasing by over 100% since its October lows following a challenging 2022. Investors are curious to see if this upward trend can be sustained, mirroring the strong update from last month.
Over in the US, while there won’t be earnings announcements, an important development is worth noting. There will be a ‘special rebalance’ of the Nasdaq 100 index, which will lower the weightings of the biggest names in the index, including Apple, Microsoft, Nvidia, and Meta.
Key announcements for Monday include:
Trading updates: Cranswick PLC (LSE:CWK), Games Workshop Group PLC, DiscoverIE Group PLC, Ryanair Holdings PLC (LSE:RYA), Vodafone Group PLC.
Interim reports: Science Group PLC (AIM:SAG), Moneysupermarket Group PLC.
Annual General Meetings: MobilityOne Ltd.
Economic announcements: Preliminary PMI Manufacturing (UK), Preliminary PMI Services (UK).
Tuesday, July 25th
Unilever PLC (LSE:ULVR), the fourth company on the FTSE index valued over £100bn, has gained from inflation in the previous year, but some analysts suspect this advantage might be diminishing.
The company might face challenging questions regarding its operations in Russia, following its statement about not pulling out, terming the move as “not straightforward”. It has been accused of contributing £579mln annually to the Russian economy.
Meanwhile, in the US, it’s going to be a significant day with Alphabet Inc (NASDAQ:GOOG) and Microsoft Corporation (NASDAQ:MSFT), unveiling their earnings after market hours.
Being the second and third-largest US tech companies, holding 6.4% and 11.4% of the Nasdaq Composite index respectively, their reports will be critical following the recent fluctuations spurred by disappointing earnings from Tesla and Netflix the week before.
Alphabet, Google’s parent company, is anticipated to release a varied set of earnings. Stakeholders are eager to learn about its advancements in artificial intelligence (AI) incorporated into its search and other business domains.
AI will also be a key focus for Microsoft, which recently saw its shares reach an all-time high after unveiling a premium pricing model for its generative AI software suite.
Key announcements for Tuesday include:
Trading updates: Compass Group PLC (LSE:CPG), JTC PLC (LSE:JTC), Mitie Group PLC (LSE:MTO), Sage Group PLC.
Interim reports: Bridgepoint Group PLC (LSE:BPT), Croda International PLC (LSE:CRDA), Louis Vuitton Moet Hennessy (EPA:MC) SE, SThree PLC (LSE:STEM), Tyman (LSE:TYMN) PLC, Unilever PLC, Unite Group PLC (LSE:UTG).
US earnings: Alphabet Inc, Microsoft Corporation, Verizon Communications Inc, Visa Inc (NYSE:V), Snap Inc (NYSE:SNAP), Spotify Technology SA (NYSE:SPOT), General Electric (NYSE:GE), General Motors, Teladoc (NYSE:TDOC) Health Inc.
Annual General Meetings: ADM Energy PLC (AIM:ADME, ETR:P4JC), Atome Energy PLC, B&M European Value Retail SA (LSE:BME), JZ Capital Partners Ltd, Mitie Group PLC, Molecular Energies PLC (AIM:MEN, OTC:PPCGD), Safestay (AIM:SSTY) PLC, Vodafone Group PLC.
Economic announcements: House Price Index (US), Consumer Confidence (US).
Wednesday, July 26th
Even though Wednesday is marked for the Federal Reserve, numerous significant updates from major FTSE companies are expected beforehand.
Lloyds Banking Group PLC (LSE:LLOY) is one of the key players, particularly since it is among the banks projected to amass billions from what critics claim as unfair tactics: swiftly increasing mortgage rates while slowly elevating those for savings.
Lloyds is anticipated to boost its full-year guidance next week. If it does, it could face backlash from disgruntled customers.
Among the FTSE-listed companies reporting on Wednesday is British American Tobacco PLC (LSE:BATS), ranked seventh among the worst-performing shares on the index in the last year. Concerns over its debt, calls for vaping bans, and the new CEO’s warning of a “complex” year have all played their part.
Shares of GSK PLC (LSE:GSK, NYSE:GSK) have been hovering near the year’s lows despite positive developments like the out-of-court Zantac settlement and a promising gonorrhoea vaccine. This indicates investor skepticism about CEO Emma Walmsley’s ability to rival AstraZeneca.
Reckitt Benckiser PLC will present its first report since the internal promotion of Kris Licht to CEO, following recent board changes. An analyst commented on the considerable pressure on Licht to overcome seven years of “missteps, drama, and volatility”.
Later in the day, the US central bank is expected to recommence interest rate hikes after an 11-meeting hiatus. A quarter-point increase is anticipated, with all eyes on the bank’s sentiment regarding possible further hikes later in the year.
Post the US market close, earnings from Meta, Coca-Cola, and Boeing, among others, will be released. For Meta, owner of Facebook and Instagram, analysts predict an upturn in advertising revenue. However, the shares were wavering before the earnings update following a 150% surge in the year to date.
Key announcements for Wednesday include:
Trading updates: Fresnillo PLC (LSE:FRES), GSK PLC, Rathbones PLC.
Interim reports: British American Tobacco PLC, Centamin PLC (LSE:CEY, TSX:CEE, OTC:CELTF), Elementis plc (LSE:ELM), FDM Group (LSE:FDM) PLC, Lloyds Banking Group PLC, Primary Health Properties PLC (LSE:PHP, OTC:PHPRF), Reckitt Benckiser Group PLC (LSE:RKT, ETR:3RB), RHI Magnesita NV, Rio Tinto PLC (LSE:RIO), Banco Santander (LSE:BNC) SA, Breedon Group Plc (LSE:BREE).
Final reports: Hargreaves Services Plc (AIM:HSP, OTC:HGRVF), Van Elle PLC.
US earnings: Meta Platforms Inc (NASDAQ:FB), Coca-Cola Co, The Boeing Company (NYSE:BA), AT&T Corporation, Automatic Data Processing Inc, CME Group (NASDAQ:CME) Inc, Thermo Fisher Scientific (NYSE:TMO) Inc, QuantumScape Corp, ServiceNow Inc.
Annual General Meetings: Aquila Services Group PLC, B.P Marsh & Partners, Eurasia Mining PLC (AIM:EUA), Molten Ventures PLC (LSE:GROW), Motorpoint PLC, NewRiver REIT PLC (LSE:NRR), Ninety One PLC (LSE:N91), Norcros PLC (LSE:NXR), OptiBiotix Health PLC (AIM:OPTI, OTC:OPBXF), Oracle Power PLC (AIM:ORCP), Palace Capital PLC (LSE:PCA), Triad Group PLC.
Economic announcements: BRC Shop Price Index (UK), MBA Mortgage Applications (US), New Homes Sales (US), Crude Oil Inventories (US), Fed interest rate decision (US).
Thursday, July 27th
Similar to the US Federal Reserve, the European Central Bank (ECB) is projected to increase interest rates on Thursday. ECB President Christine Lagarde is likely to signal more rate hikes in the future.
There will be a flurry of updates from FTSE 100 companies, with Shell PLC (LSE:SHEL, NYSE:SHEL) taking the lead. A broker recently highlighted Shell for possessing the most robust balance sheet among all European integrated oil majors.
Before disclosing its Q2 results, the oil giant declared $3bn in write-offs and stated that its gas division’s trading would be “significantly lower” than the previous quarter, attributed to seasonal influences.
Within the energy sector, Centrica PLC (LSE:CNA) and Drax have been placed on ‘positive catalyst watch’ by JP Morgan ahead of their interim results. Both companies are expected to announce strong earnings and cash flow and provide updates on capital allocation strategies.
BT Group PLC (LSE:BT.A) is predicted to disclose a robust first quarter, largely due to its recent significant price increases, according to analysts. However, its shares rank as the fourth worst performer on the FTSE 100 over the past 12 months.
Compared to Lloyds and Natwest, who are reporting this week, Barclays PLC (LSE:BARC) is more attuned to the global market. The performance of its merchant bank will be crucial, especially considering US ‘bulge bracket’ banks are cutting jobs due to a lack of deal activity.
Major announcements for Thursday include:
Trading updates: Airtel Africa PLC (LSE:AAF), Beazley PLC, Britvic PLC (LSE:BVIC), BT Group PLC, CMC Markets PLC (LSE:CMCX), Shell PLC.
Interim reports: Anglo American PLC (LSE:AAL), Barclays PLC, Centrica PLC, Drax Group (LSE:DRX), Greencoat UK Wind PLC (LSE:UKW), Hammerson PLC (LSE:HMSO), Inchcape PLC (LSE:INCH), Indivior PLC (LSE:INDV), Informa PLC (LSE:INF), ITV PLC (LSE:ITV), Jupiter Fund Management PLC (LSE:JUP), Mobico Group PLC, Rentokil Initial PLC (LSE:RTO), Schroders PLC (LSE:SDR), Segro PLC, St James’s Place PLC, Vesuvius Plc (LSE:VSVS).
Final reports: Frasers Group PLC (LSE:FRAS).
US earnings: McDonald’s Corp, AbbVie Inc, Bristol-Myers Squibb Co (NYSE:BMY), Keurig Dr Pepper Inc, Mastercard Inc (NYSE:MA), Takeda Pharmaceutical, Willis Towers Watson, Amazon.com Inc (NASDAQ:AMZN), Ford Motor Company (NYSE:F), Intel Corporation (NASDAQ:INTC), Mondelez (NASDAQ:MDLZ) International Inc, Roku Inc (NASDAQ:ROKU).
Annual General Meetings: Arkle Resources PLC (AIM:ARK), Biotech Growth Trust PLC, Chaarat Gold Holdings Ltd (AIM:CGH), CMC Markets PLC, Dekel Agri-Vision plc (AIM:DKL), Firering Strategic Minerals PLC (AIM:FRG), Graft Polymer UK PLC, Kendrick Resources PLC (LSE:KEN), Montanaro UK Smaller Cos Investment Trust PLC, Northern 3 VCT PLC, Petrel Resources PLC (AIM:PET), Puma Alpha VCT PLC, Puma VCT 13 PLC, Record PLC (LSE:REC), Tate & Lyle PLC (LSE:TATE), Tiger Royalties & Investments PLC, Volex PLC (AIM:VLX).
Economic announcements: Continuing Claims (US), Durable Goods Orders (US), Preliminary GDP (US), Initial Jobless Claims (US), Pending Homes Sales (US), ECB interest rate decision (EU).
Ex-dividends are set to decrease FTSE 100 by: 2.89.
Friday, July 28th
After a recent update from a smaller FTSE rival, AstraZeneca PLC (LSE:AZN) is slated to demonstrate to the City why it dominates the blue chip index. Despite reaching an all-time high in April, the company has since seen some pullback.
International Consolidated Airlines Group SA (LSE:IAG), the parent company of British Airways, has potential to exceed expectations, according to one investment bank, as major airlines stand to benefit from robust passenger demand ahead of their Q2 results.
However, the sector has seen widespread downgrades due to anticipated reductions in air fares. Investors may also be keen to hear updates on the Russian cyberattack that occurred earlier in the summer.
Rounding out the week’s banking updates, NatWest Group PLC (LSE:NWG) and Standard Chartered PLC (LSE:STAN) are scheduled to report. While NatWest leans more towards a UK focus, Standard Chartered has experienced strong performance since late May.
In Q1, Standard Chartered raised its full-year guidance following an impressive first quarter, boasting a 25% increase in profits and pledging to return $5bn to shareholders by 2024.
US earnings reports to be released later in the day include those from Chevron and Exxon Mobil. Both companies faced solid investor opposition to their climate change proposals at their respective annual meetings in May.
Key announcements for Friday include:
Trading updates: AstraZeneca PLC, Paragon Banking Group PLC (LSE:PAG).
Interim reports: IMI PLC (LSE:IMI), International Consolidated Airlines Group SA, Intertek Group PLC (LSE:ITRK), Morgan Advanced Materials plc (LSE:MGAM), NatWest Group PLC, Rightmove PLC (LSE:RMV), Standard Chartered PLC, Vanquis Banking Group PLC.
US earnings: Chevron Corporation (NYSE:CVX), Exxon Mobil Corporation (NYSE:XOM), The Proctor & Gamble Company.
Annual General Meetings: African Pioneer PLC (LSE:AFP), Bezant Resources PLC (AIM:BZT) (BZT)PLC, Group PLC, Cordiant Digital Infrastructure Ltd (LSE:CORD), DP Poland PLC (AIM:DPP), Helical (LSE:HLCL) PLC, Jangada Mines PLC (AIM:JAN), Mercantile Ports & Logistics Ltd, MetalNRG PLC (LSE:MNRG), Northern 2 VCT PLC, Oxford Instruments PLC (AIM:OXIG), R&Q Insurance Holdings Ltd (AIM:RQIH), Science In Sport PLC, Xtract Resources PLC (LSE:XTR).
Economic announcements: Employment Cost Index (US), Personal Consumption Expenditures (US), Personal Income (US), Personal Spending (US), Chicago PMI (US), University of Michigan Confidence (US).
