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Next week on the stock market

What to expect from a selection of FTSE 100, FTSE 250 and selected other companies reporting next week.

Important notes

This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.

This article is more than 6 months old

It was correct at the time of publishing. Our views and any references to tax, investment and pension rules may have changed since then.

Among those currently scheduled to release results next week:

  • Occupancy probably continued to climb at IHG, but we’d like to know if and when a full recovery is expected
  • Disney hopes not to disappoint the market again with a potential recovery in the theme park business
  • Recently renamed Abrdn is in the first stages of a turnaround

FTSE 100, FTSE 250 and selected other stocks scheduled to report next week:

Barrick Gold* Q2 Trading Update
Clarkson Half Year Results
Hargreaves Lansdown Full Year Results
Pagegroup Half Year Results
TI Fluid Systems Half Year Results
Abrdn* Half Year Results
Bellway Trading Update
Derwent London Half Year Results
Flutter Entertainment Half Year Results
Gamesys Group Half Year Results
InterContinental Hotels Group* Half Year Results
IWG Half Year Results
M&G* Half Year Results
Watches of Switzerland Group Q1 Trading Update
4imprint Group Half Year Results
Admiral Group Half Year Results
Avast Half Year Results
CLS Holdings Half Year Results
Hill & Smith Holdings Half Year Results
Prudential* Half Year Results
Quilter Half Year Results
Spirax-Sarco Engineering Half Year Results
The Phoenix Group Half Year Results
Aviva* Half Year Results
Coca Cola HBC AG Half Year Results
Deutsche Telekom* Q2 Trading Update
Just Group Half Year Results
The Walt Disney Company* Q3 Trading Update
Tui AG Q3 Trading Update
No FTSE 350 Reporters

*Companies on which we will be writing research.

InterContinental Hotels Group – Sophie Lund-Yates, Equity Analyst

InterContinental Hotels Group’s overall occupancy rose to 40% in the first quarter, helped by improvements in the US and China. With global restrictions continuing to ease, we expect occupancy to have climbed further in next week’s results.

Luring travellers back means pricing isn’t as firm as it was pre-pandemic though. The group’s rates were roughly 80% of 2019 levels in the first quarter. Now that we’re heading into the busier summer travel season, we’re wondering if the group’s been able to make any headway on lifting rates.

Budget-friendly chains like Holiday Inn have been a key pillar of the recovery, as business travel and large conferences are still largely on hold. Management’s outlook statement should offer some insight into whether the group expects to see higher-ticket travellers return. It is likely going to take some time. Long-haul airline IAG’s results suggested we’d have to wait at least another 2 years for a full recovery in international travel and there are no guarantees. We’d like to get a better picture of what this will mean for IHG’s bottom line sooner rather than later.

See the latest IHG share price, charts and how to deal

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Disney – Sophie Lund-Yates, Equity Analyst

The pandemic seriously hurt Disney’s Parks & Experiences. It was this division that led to lower revenue than the market expected last quarter, when total group revenue declined 13%, to $15.6bn. Next week we’ll find out if Disney has been able to grow in-line with what analysts are expecting this time – it’s currently thought Disney will report third quarter revenues of $16.8bn. With worldwide restrictions easing - albeit jarringly - and vaccine roll outs continuing, there’s a good chance Disney comes good on expectations, but there are no guarantees.

Away from the famous theme parks, we’ll be keeping an eye on growth in the broadcast and media business. Performance here has been very resilient, thanks to a stable of great channels, including ESPN. This division propped up group profits last quarter, so things could be looking up when coupled with the hoped-for recovery in parks.

We’d be remiss not to mention Disney’s formidable streaming business. Subscriber growth for the likes of Disney+ and Hulu has gone from strength to strength, and in a short space of time. The market will be hoping for another strong run of customer acquisition. It’s this side of the business that has helped push Disney’s price to earnings ratio to 38.7, which is higher than the ten-year average. There is likely to be short term volatility if things don’t go to plan.

See the latest Disney share price, charts and how to deal

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Abrdn – Nicholas Hyett, Equity Analyst

Abrdn, formerly Standard Life Aberdeen, is on a mission to turn around a business that has been exceptionally unexceptional for some time.

The group, now overwhelmingly focussed on fund management, is looking to cut costs while improving investment performance and expanding its distribution network. If it can do all three – charging fees on more money, for more clients, and on a lower cost base – it would be a heady mix for profits but also a familiar playbook for any asset manager.

We’re only in the very early days of the new strategy, and tangible progress next week is likely to be minimal. That won’t stop analysts scrutinising management comments closely – the group has work to do to convince investors it deserves the benefit of the doubt after years of lacklustre results.

See the latest Abrdn share price, charts and how to deal

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Unless otherwise stated estimates are a consensus of analyst forecasts provided by Refinitiv. These estimates are not a reliable indicator of future performance. Past performance is not a guide to the future. Investments rise and fall in value so investors could make a loss.

This article is not advice or a recommendation to buy, sell or hold any investment. No view is given on the present or future value or price of any investment, and investors should form their own view on any proposed investment. This article has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is considered a marketing communication. Non-independent research is not subject to FCA rules prohibiting dealing ahead of research, however HL has put controls in place (including dealing restrictions, physical and information barriers) to manage potential conflicts of interest presented by such dealing. Please see our full non-independent research disclosure for more information.

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    Important notes

    This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.

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