Share Talk Expected Market Updates For The Week Ahead, 3rd – 7th April 2023

The non-farm payrolls report, which anticipates the US adding roughly 250,000 jobs in March, is the most significant event of the week, with numerous other US data releases also keeping market observers engaged, despite light scheduled corporate news.

With the anticipated Easter holiday approaching, the UK is relatively calm, but ten days of strike activity at Heathrow has dampened the spirits. Although the airport claims there will be no disruptions, British Airways, a major user, has cancelled flights, and it is advisable to check in advance.

Topps Tiles’ results will offer an indication of the housing refurbishment market’s mood, which traditionally sees a surge in activity.

Minutes from the Bank of England’s rate-setting committee’s previous meeting will also be interesting, given the onset of the banking crisis.

Furthermore, ex-dividends from Barratt, Reckitt Benckiser, Smiths, and others on Thursday are projected to reduce the FTSE 100 index’s opening bell by approximately eight points.

Monday, April 3

Major Announcements:

Finals: Elixirr International PLC (AIM: ELIX)

Interims: Tracsis (AIM: TRCS) PLC

AGMs: N4 Pharma PLC (AIM: N4P)

Economic Announcements: PMI Manufacturing (US), Construction Spending (US), ISM Manufacturing (US), ISM Prices Paid (US), Auto Sales (US), PMI Manufacturing (UK)

Tuesday, April 4

Accesso Technology, a virtual queuing specialist, has announced record revenues and robust cash generation, with revenue for the 2022 calendar year anticipated to be no less than US$139mln. This is up from US$124.8mln the previous year and ahead of management’s initial full-year expectations. The group’s cash position is about US$64mln, thanks to a strong operating performance and a cash EBITDA margin of at least 17%.

Major announcements include finals from Accesso Technology Group PLC (AIM:ACSO, OTC:LOQPF), Proteome Sciences PLC (AIM:PRM), and Saga PLC (LSE:SAGA), as well as trading updates from Anexo Group PLC (AIM:ANX) and Renewi PLC (LSE:RWI).

The US Factory Orders is the sole economic announcement.

Wednesday, April 5

Enquest, which has already postponed the publication of its annual results once due to the UK government’s energy profits levy, is set to release its results on Wednesday. Enquest’s CEO, Amjad Bseisu, has been one of the main critics of the windfall tax, and more complaints are expected when the results are published. Enquest is focused on the North Sea, and in its last update, the firm stated that it was delaying new drilling on the Kraken field due to the impact of the EPL.

Topps Tiles, the tile specialists listed in London, will report its first-half results on Wednesday, with investors hoping the company can continue from where it left off in its Q1 update in January. The company announced that sales were 10.2% higher than the same period last year, although it cautioned that profits, as usual, would be second-half weighted.

Major announcements include finals from Enquest PLC (AIM:ENQ), Futura Medical PLC (AIM:FUM, OTC:FAMDF), Hilton Food Group PLC (LSE:HFG), and Lookers PLC (LSE:LOOK), and trading updates from RS Group PLC (LSE:RS1) and Topps Tiles PLC (LSE:TPT).

The US MBA Mortgage Applications, Balance of Trade, PMI Composite, PMI Services, ISM Prices Paid, ISM Services, and Crude Oil Inventories are among the economic announcements, as well as FOMC Interest Rate Minutes and PMI Composite and PMI Services from the UK.

Thursday, April 6

Ferrexpo, a company that produces iron pellets in Ukraine, will release its first-quarter update, providing insight into the impact of war on business. The company experienced a 50% decrease in underlying profits and revenue in the previous financial year, with shares dropping by over 56% since the Russian invasion.

Analysts have highlighted the importance of accessing seaborne markets via the Black Sea, which investors may be watching for progress updates. Robert Walters will also release a first-quarter update on April 6th, providing insights into international hiring trends. The update is expected to be informative, with Walters reporting fierce competition for candidates and wage growth in the first half of 2022, and increased uncertainty in the second. The City forecast consensus for the full year is for pre-tax income of £50mln, down from £55.6mln in 2021.

Additionally, major announcements include trading updates for Ferrexpo PLC and Robert Walters PLC, AGMs for Cloudcoco Group PLC and Scottish American Investment Co PLC, and economic announcements for Continuing Claims and Initial Jobless Claims in the US, Halifax House Price Index and PMI Construction in the UK. Furthermore, Barratt Developments, Reckitt Benckiser Group, F&C Investment Trust, ConvaTec Group, Rentokil Initial, and Smiths Group (LSE:SMIN) will be going ex-dividend.

Friday, April 7

On Good Friday, the UK market will be closed. Economic announcements for the day include Non-Farm Payrolls, Unemployment Rate, and Consumer Credit in the US. US company updates include Conagra Brands on Wednesday, and Constellation Brands (NYSE:STZ), Levi Strauss, and Ermenegildo Zegna on Thursday.

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