The upcoming week, spanning from May 8th to May 12th, begins with a Coronation bank holiday in the UK, followed by a focus on various businesses that have recently been under pressure but are now regaining investor attention, such as Asos, Direct Line, and ITV.
Additionally, companies that have been consistently popular with investors, like Rolls-Royce, Compass, and Beazley, will be in the spotlight.
A Bank of England interest rate increase is also anticipated on Thursday.
MONDAY, MAY 8
The London Stock Exchange will remain closed due to the second of three Monday closures this month, in celebration of the new monarch’s coronation.
Nonetheless, European and New York markets will stay active with several corporations reporting their earnings, including PayPal, electric vehicle manufacturer Lucis, and hydrogen fuel cell expert Plug Power (NASDAQ:PLUG). Various macroeconomic data releases are also scheduled.
Key announcements expected for Monday: US earnings: Viatris Inc, Lucid Group Inc (NASDAQ:LCID), Palantir Technologies Inc (NYSE:PLTR), PayPal Holdings Inc (NASDAQ:PYPL), Plug Power Inc
Economic announcements: Wholesale inventories (US)
TUESDAY, MAY 9
Direct Line Insurance Group PLC (LSE:DLG) will be in the spotlight following a series of disappointing updates, which ultimately led to the departure of its CEO, despite similar challenges faced by competitors.
Nevertheless, the company’s shares have shown signs of recovery over the past month, as some investors and analysts anticipate that the turnaround process has already begun.
Two days before the Bank of England is expected to raise interest rates to tackle inflation, the House of Lords Economic Affairs Committee will hold a hearing to examine “why the Bank got it wrong on inflation.” They will gather evidence from a former Federal Reserve vice chair and the Financial Times’ chief economics commentator. The hearing will be streamed live on ParliamentTV.
In the US, earnings announcements include electric truck manufacturer Rivian and Richard Branson’s space tourism venture, Virgin Galactic. International earnings reports include those from oil giant Saudi Aramco and gaming industry leader Nintendo.
Significant announcements expected on Tuesday:
Trading updates: Kosmos Energy Ltd (LSE:KOS, NYSE:KOS), Diversified Energy Company PLC (LSE:DEC, OTCQX:DECPF), Direct Line Insurance Group PLC (LSE:DLG)
US and major international earnings: Airbnb Inc (NASDAQ:ABNB), Jackson Financial Inc, Occidental Petroleum Corporation (NYSE:OXY), Rivian Automotive Inc (NASDAQ:RIVN), Twilio Inc (NYSE:TWLO), Upstart Holdings Inc, Virgin Galactic Holdings Inc (NYSE:SPCE), Saudi Aramco, Nintendo
Interims: Treatt PLC, Victrex PLC (LSE:VCT)
Finals: Anexo Group PLC (AIM:ANX), Tialis Essential IT PLC
AGMs: Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL), Direct Line Insurance Group PLC, Foxtons (LSE:FOXT) Group PLC, Hostelworld (LSE:HSW) Group PLC, Just Group PLC (LSE:JUST), MacFarlane Group PLC, Midwich Group PLC (AIM:MIDW), Osirium Technologies PLC (AIM:OSI), Windward Ltd (AIM:WNWD)
Economic announcements: BRC Sales Monitor (UK), Halifax House Price Index (UK)
WEDNESDAY, MAY 10
Although ASOS stocks are among London’s most shorted, recent conditions may potentially prompt a resurgence for the online fashion retailer.
In contrast, Compass Group and its investors have been steadily thriving for the past three years since the early pandemic downturn, with growth likely to have persisted over the last quarter.
Major announcements anticipated on Wednesday:
Trading updates: Georgia Capital PLC, TUI AG, JD Wetherspoon PLC (LSE:JDW), Melrose Industries PLC (LSE:MRO, OTC:MLSPF), Spirax-Sarco Engineering (LSE:SPX) PLC
US and major global earnings: Credit Agricole, E.ON, HeidelbergCement, Softbank, Toyota, Vestas Wind, The Trade Desk Inc, The Walt Disney Company (NYSE:DIS), Unity Software Inc (NYSE:U)
Interim reports: ASOS PLC (LSE:ASC), Compass Group PLC (LSE:CPG)
Year-end reports: Airtel Africa PLC (LSE:AAF), Anexo Group PLC, Directa Plus PLC (AIM:DCTA, OTC:DTPKF), Ondine Biomedical Inc (AIM:OBI), Vertu Motors (AIM:VTU) PLC, 3I Infrastructure PLC
Annual General Meetings: Abrdn Asian Income Fund Ltd, Abrdn PLC (LSE:ABDN), Airea (AIM:AIEA) PLC, Cenkos Securities PLC (AIM:CNKS), Centaur Media (AIM:CAU) PLC, Dunedin Enterprise Investment Trust, Ecora Resources PLC (LSE:ECOR, TSX:ECOR, OTCQX:ECRAF), Fidelity European Trust PLC (LSE:FEV), Harbour Energy PLC (LSE:HBR), Jupiter Fund Management PLC (LSE:JUP), Literacy Capital PLC (LSE:BOOK), Luceco PLC (LSE:LUCE), Marshalls PLC (LSE:MSLH), National Express Group PLC (LSE:NEX), Rentokil Initial PLC (LSE:RTO), SEPLAT Energy PLC, Spirax-Sarco Engineering PLC, T Clarke PLC, The Renewables Infrastructure Group Ltd
Economic announcements: MBA Mortgage Applications (US), Consumer Price Index (US), Crude Oil Inventories (US), Budget Statement (US)
THURSDAY, MAY 11
Bank of England Governor Andrew Bailey is expected to announce another interest rate hike on Thursday, but the central question remains whether this will mark the end of the current cycle of increases.
Rolls-Royce Holdings PLC (LSE:RR.) is among the companies reporting, and engine flight times are predicted to benefit from optimistic news within the airline industry. Some analysts believe this year’s numbers could surpass expectations, while others worry that the new CEO’s plans may risk alienating the company’s largest customer.
Meanwhile, ITV PLC (LSE:ITV) is unlikely to report strong figures due to a recent decline in the advertising market, although some analysts remain supportive ahead of the update.
Significant announcements anticipated on Thursday:
Trading updates: Balfour Beatty plc (LSE:BBY), ITV PLC, Rolls Royce Holdings PLC, TBC Bank (LSE:TBCG) Group PLC, Vivendum PLC, Wood Group
US and major international earnings: Fiverr International Ltd, Takeda Pharmaceutical Co Ltd, Bayer, Deutsche Telekom, Ferrovial, ING, JD.com, Nissan Motors, RWE (ETR:RWE), ThyssenKrupp
Interim reports: Grainger Plc (LSE:GRI)
Year-end reports: 3i Group PLC (LSE:III), Airtel Africa PLC, IQE
Annual General Meetings: 88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF), Balfour Beatty PLC, Cairn Homes plc (LSE:CRN), Capita PLC (LSE:CPI), Clarkson PLC (LSE:CKN), Condor Gold PLC (AIM:CNR, TSX:COG, OTC:CNDGF), Costain Group PLC (LSE:COST), Eleco PLC (AIM:ELCO), Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF), Eurocell PLC (LSE:ECEL), FBD Holdings (LSE:FBH) PLC, Genel Energy PLC (LSE:GENL, OTC:GEGYY), Gresham House PLC (AIM:GHE), Gym Group PLC, Hiscox Ltd (LSE:HSX), Irish Continental Group (LSE:ICGC) PLC, Kenmare Resources plc (LSE:KMR), Maven Income & Growth VCT 4 PLC, MyHealthChecked PLC (AIM:MHC), OSB Group PLC (LSE:OSB), Poolbeg Pharma PLC (AIM:POLB, OTCQB:POLBF), Rolls Royce Holdings PLC, Serinus Energy PLC (AIM:SENX), Spire Healthcare Group Plc (LSE:SPI), Uniphar PLC (AIM:UPR), Videndum PLC (LSE:VID), WAG Payment Solutions PLC (LSE:WPS), Wood Group (John) PLC
Economic announcements: RICS Housing Market Survey (UK), BoE Interest Rate Decision (UK), Continuing Claims (US), Initial Jobless Claims (US), Producer Price Index (US)
Ex-dividend reductions to FTSE 100: 11.89
Friday, May 12
Wrapping up the week is Beazley PLC (LSE:BEZ), the FTSE 100-listed Lloyd’s of London underwriter, which has recovered impressively from initial concerns about potential losses following Russia’s invasion of Ukraine.
The financial community forecasts a strong performance over the next couple of years, but as the lyrics from Stingray almost said, anything could happen in the next 18 months.
Key announcements anticipated on Friday:
Trading updates: Allianz Technology Trust PLC (LSE:ATT), Beazley PLC
International earnings: Allianz, Charles Schwab (NYSE:SCHW), Rakuten, Richemont, Société Générale
AGMs: Balfour Beatty PLC, Derwent London PLC (AIM:DLN), GreenRoc Mining PLC (AIM:GROC), Hutchmed (China) Ltd
Economic announcements: UK Balance of Trade, UK Preliminary GDP, UK Gross Domestic Product, UK Index of Services, UK Industrial Production, UK Manufacturing Production, US Import and Export Price Indices, US University of Michigan Confidence (Preliminary)
