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Next week on the stock market

What to expect from a selection of FTSE 100, FTSE 250 and selected overseas shares 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.

We should start with a word of caution where this calendar’s concerned. While we can never guarantee our financial calendar will be wholly accurate (although we like to think it’s one of the best you’ll find), in the current rapidly changing environment we’re almost certain it will be wrong to some degree.

Nonetheless we’ve done our best to provide a list of companies that are scheduled to update the market next week. They include:

  • Keywords, which finally gets to deliver its full year results after an unexpected delay
  • LVMH, where we hope to get an idea of how the global luxury sector is faring
  • Rentokil Initial, where the impact of the coronavirus outbreak is about as mixed as it can get

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

13-Apr
Bank Holiday
14-Apr
No FTSE 350 reporters
15-Apr
JD Sports Full Year Results
Pagegroup Q1 Trading Statement
16-Apr
Ashmore Q3 AUM Statement
Keywords* Full Year Results
LVMH* Q1 Revenue Statement
PZ Cussons Trading Statement
Rentokil Initial Q1 Trading Statement
17-Apr
Man Group Q1 Trading Update
Mediclinic International Full Year Results
Rio Tinto* Q1 Operational Update

*Companies on which we will be writing research

Keywords

Keywords’ full year results are coming out later than originally expected after the FCA asked for a two week moratorium on reporting. However, delayed results aside, the group seems to have managed the early stage of the global coronavirus crisis without too much disruption.

As of the 25 March Keywords had moved 4,500 staff to working from home and expected to shift more over time. The group has offices all over the world and teams are used to working together remotely, which could help mitigate the impact of lockdowns.

In fact gaming looks set to be one of the few areas which see consumer spending increase over the next few months, with Chinese groups reporting an increase during quarantines there.

We wouldn’t expect that extra spending to have reached Keywords directly, since it doesn’t make games of its own. However, there are already signs of increased demand from clients in some areas. The major question is how well the group can transition out of the office, and there are some signs it’s struggling to meet demand. A nice problem to have, but still not ideal.

It’ll come as no surprise to hear we’ll be skimming the 2019 results a bit faster than usual and instead paying extra attention to any comments around more recent trading.

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

Sign up for Keywords updates

LVMH

2019 was a bumper year for LVMH, with record sales and profits. That’s certainly a positive in a tough economic environment, but the recent purchase of Tiffany is less well timed. Forking out $16.2bn in cash and integrating a major acquisition at the moment is a significant risk.

Fortunately luxury goods sales have historically held up better than other consumer segments during a downturn – helped by the fact that the wealth of the global elite that make up LVMH’s customer base tends to hold up better than incomes.

However the sector’s not immune to the wider economic climate. LVMH’s broad portfolio of luxury brands – which ranges from spirits to suitcases – makes it a useful bellwether for the industry as a whole.

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

Sign up for LVMH updates

Rentokil Initial

Rentokil’s brief trading update on 25 March presented a bit of a mixed picture of the pest control and hygiene business’s recent fortunes.

Customers in the hospitality and leisure sectors have essentially ceased to operate across many markets – as government lockdowns force the closure of hotels and restaurants. Other sectors like schools and offices have been hit too.

In contrast food production and healthcare has performed well, and the demand for the group’s specialist hygiene services has actually increased. The group even thinks the current pandemic could lead to a long term increase in demand for its services.

In the short term though we suspect things are going to be difficult. Having already announced a raft of cost control and cash preservation measures, our focus next week will be on how well sales have held up.

See the latest Rentokil Initial share price, charts and how to trade

Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by Thomson Reuters. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. 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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