The coming week, from 8 May to 12 May, starts with a Coronation bank holiday for the UK, before running through some companies that have been under the cosh in recent months and sparking renewed investor interest, including Asos, Direct Line and ITV, as well as some that have been investor favourites for a few years, including Rolls-Royce, Compass and Beazley.
A Bank of England rate hike is expected on Thursday, too.
MONDAY 8 MAY
The London Stock Exchange will be closed for the second of three Mondays this month, this one bestowed to celebrate the coronation of the new monarch.
But European markets and New York will keep the ball rolling with various companies reporting including PayPal, EV maker Lucis and hydrogen fuel cells specialist Plug Power (NASDAQ:PLUG), as well as various macro data scheduled.
Significant announcements expected on 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: wholesales inventories (US)
TUESDAY 9 MAY
Direct Line Insurance Group PLC (LSE:DLG) will be in focus after a succession of dismal updates, which eventually led to the loss of its chief executive – even though rivals are undergoing pretty much the same.
The shares have perked up in the past month, however, as some investors and analysts predict the repair job is already underway.
Two days ahead of another expected hike in Bank of England interest rates to combat inflation, the House of Lords economic affairs committee will hold a hearing to investigate “why did the Bank get it wrong on inflation”, taking evidence from a former Federal Reserve vice chair and the chief economics commentator at the Financial Times. It will be streamed live on ParliamentTV.
In the US, earnings include electric truck maker Rivian and Richard Branson’s space tourism outfit Virgin Galactic, while looking east, there are results from oil titan Saudi Aramco and video games powerhouse 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 10 MAY
Asos shares are among the most shorted in London but could conditions in recent weeks help kickstart a comeback for the online clothing retailer?
On the other side of the coin, Compass and its investors have been prettty consistently tucking in for the three years since its early pandemic lows, with growth expected to have continued in the past quarter.
Significant announcements expected 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 international 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)
Interims: ASOS PLC (LSE:ASC), Compass Group PLC (LSE:CPG)
Finals: 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
AGMs: 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 11 MAY
Another interest rate increase is anticipated from the Bank of England governor Andrew Bailey on Thursday, but the big debate is over whether or not it will be the last of the current hiking cycle.
Among the companies reporting will be Rolls-Royce Holdings PLC (LSE:RR.), where engine flying times should be benefitting from the sort of upbeat reports coming out of the airline industry. Some analysts reckon this number could even outdo expectations this year, though others are concerned that the new chief executive’s plans could alienate its biggest customer.
Elsewhere, ITV PLC (LSE:ITV) is not seen as likely to be posting strong numbers as the advertising market has been in the red in recent months – though some analysts have been supportive ahead of the update.
Significant announcements expected 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
Interims: Grainger Plc (LSE:GRI)
Finals: 3i Group PLC (LSE:III), Airtel Africa PLC, IQE
AGMs: 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 to reduce FTSE 100 by: 11.89
FRIDAY 12 MAY
Finishing off the week will be Beazley PLC (LSE:BEZ), the FTSE 100-listed Lloyd’s of London underwriter, which has bounced back strongly from initial worries about losses from Russia’s invasion of Ukraine.
The City is tipping it for a strong couple of years ahead but, as the Stingray song almost went, anything can happen in the next year and a half.
Significant announcements expected 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: Balance of Trade (UK), GDP (Prelim) (UK), Gross Domestic Product (UK), Index of Services (UK), Industrial Production, (UK), Manufacturing Production (UK), Import and Export Price Indices (US), U. of Michigan Confidence (Prelim) (US)
