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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.

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

  • We’ll find out if Tesco is still poaching customers from Aldi
  • Interest in William Hill’s US business makes GVC’s joint venture across the pond a key area of focus next week
  • Imperial Brands will tell us how sales have held up during the second half

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

05-Oct
No FTSE 100 or FTSE 250 reporters
06-Oct
Ferrexpo Q3 Production Report
07-Oct
Tesco* Half Year Results
08-Oct
Electrocomponents Trading Statement
GVC* Q3 Trading Statement
Hargreaves Lansdown Trading Statement
Imperial Brands* Pre-Close Trading Statement
02-Oct
J D Wetherspoon Full Year Results

*Companies on which we will be writing research.

Tesco – Sophie Lund-Yates, Equity Analyst

The supermarkets have had a better time of it than many so far this year. But that’s not to say they’re sweeping up – Tesco expects full year profit to be flat, after extra costs associated with booming demand in lockdown wipe out the sales uplift.

Next week we’ll be looking to see if those profit goal posts have been moved. In particular it will be interesting to know if this giant has continued to snatch customers from Aldi – as it was doing earlier this year for the first time in a decade. That was related to customers choosing to do bigger shops less frequently in the height of disruption. Tesco’s like for like sales were up 8.2% in the UK and Ireland in the first quarter, so that’s what we’ll be benchmarking against.

No doubt investors will have their ears pricked for news on the special dividend. The proposed sale of the Asian business means proceeds were earmarked for a special return to shareholders. But no dividend is guaranteed, and Tesco could decide this cash injection would be better used for investing in the business – including continuing to ramp up online capacity.

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GVC – Nicholas Hyett, Equity Analyst

Casino giant Caesars’ £2.9bn offer for rival bookmaker William Hill says a lot about the potential in the emerging US sports betting market. While US sports betting accounts for a fraction of GVC’s total revenues, progress in its joint venture with MGM will be closely scrutinised next week.

Back in the core business the big question is how successful GVC’s UK high street businesses, Ladbrokes and Coral, have been at capitalising on the return of live sports.

Having successfully shifted some customers from stores to online during the crisis might have changed the economics of some stores, opening the door to more cost savings in the form of UK store closures. Since online sales are generally higher margin that could be good news for the bottom line.

See the latest GVC share price, charts and how to trade

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Imperial Brands – Emilie Stevens, Equity Analyst

The first thing we’ll look at next week will be Imperial’s core tobacco sales and market share. We expect sales to be down slightly, although this wouldn’t necessarily be a bad result in the context of a shrinking tobacco market and the pandemic. If smokers are choosing cheaper brands Imperial’s market share may actually benefit from its lower exposure to premium products.

Next Generation Products (NGPs) have so far failed to live up to the heady expectations of a few years ago, but progress is still essential if Imperial and its peers are to offset the expected fall in traditional tobacco revenue. Any commentary on recent trading and investment plans will be of interest.

Finally, we may get some information on the group’s financial position. Imperial’s debts are enormous, and the upcoming sale of the cigar business will help here. We won’t get a full balance sheet next week, but we’ll be scouring the release for information on cashflow.

See the latest Imperial Brands share price, charts and how to trade

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Nicholas Hyett owns shares in GVC.

The Chair of Hargreaves Lansdown is also an Independent Director of Tesco plc.

Unless otherwise stated estimates are a consensus of analyst forecasts provided by Thomson Reuters. These estimates are not a reliable indicator of future performance. Past performance is not a guide to the future. Investments and income they produce can 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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