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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:

  • Taylor Wimpey & Persimmon will tell us how the housebuilders plan to handle Lockdown II
  • Burberry will shed some light on how sales have done since peak lockdown
  • All eyes will be on corporate advertising spend at ITV

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

09-Nov
McDonald's* Strategy Update
Ultra Electronics Q3 Trading Statement
10-Nov
DCC Half Year Results
Deutsche Post* Q3 Results
Direct Line* Q3 Trading Statement
Electrocomponents Half Year Results
Land Securities Half Year Results
Oxford Instruments Half Year Results
Persimmon* Trading Statement
Premier Foods Half Year Results
Signature Aviation Q3 Trading Statement
11-Nov
3I Infrastructure Half Year Results
Coca Cola HBC Q3 Trading Statement
Deutsche Telekom* Q3 Results
Flutter Entertainment Q3 Trading Statement
Great Portland Estates Half Year Results
Taylor Wimpey* Trading Statement
Workspace Half Year Results
12-Nov
3i Group Half Year Results
Burberry* Half Year Results
Disney* Q4 Results
ITV* Q3 Trading Statement
Mediclinic Half Year Results
National Grid* Half Year Results
OneSavings Bank Q3 Trading Statement
Qinetiq Half Year Results
Spirent Q3 Trading Statement
Vesuvius Trading Statement
WH Smith Full Year Results
13-Nov
No FTSE 100 or FTSE 250 reporters

*Companies on which we will be writing research.

Taylor Wimpey & Persimmon – Sophie Lund-Yates, Equity Analyst

We’ve been surprised by the strength of the UK’s housing market this year. On average, house prices are up around 6-7% year-on-year depending on which index you look at. It’s possible that this lockdown will be the straw that breaks the market’s back, but we doubt it. The furlough scheme is still going, so while some people are struggling, enough seem to feel secure enough to buy a new house.

However, sales rates collapsed during the first lockdown, and we’d expect they’ll still struggle a bit this time. People usually like to visit houses before committing to buying them, and while online shopping is gobbling up traditional retail we doubt houses are quite ready for that. A surge of pent up demand was unleashed when the lockdown ended though, so the builders may be able to look forward to that. Furthermore, construction activity was halted during the last lockdown but looks set to forge ahead this time.

Next week’s trading updates will give a little more detail on just how Taylor Wimpey and Persimmon plan to navigate the new lockdown. We suspect both management teams will feel more confident the second time around.

See the latest Taylor Wimpey share price, charts and how to trade

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

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Burberry – Sophie Lund-Yates, Equity Analyst

Like most retailers, Burberry was hit hard by lockdowns – first quarter revenues fell by 49% as its stores were forced to close. And while trends were expected to get a bit better, second quarter revenues are predicted to be down 15-20%. That means the net effect in half year results will be a negative sales performance. Just how negative will be the key thing we’re watching.

If the group can stay within its -15% to -20% range it will signal its products are resonating well with customers, as they seemed to be before the pandemic. A more dramatic-than-planned fall would throw up some questions.

We’d previously said Burberry was in a relatively good position despite the pandemic – but further lockdowns would spell trouble. New lockdowns in Europe and the UK are largely too recent to have any real effect on half year numbers, but we’ll be reading the wider commentary carefully. If Burberry’s outlook has materially suffered, the group is likely to want to preserve cash. That could throw the ongoing stylistic and strategic turnaround off track.

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

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ITV – Nicholas Hyett, Equity Analyst

The all-consuming question where ITV is concerned is what has happened to corporate advertising spend. Advertising spend fell 43% in the second quarter, and while we know online advertising has recovered more recently, whether that extends to more traditional advertising venues is as yet unclear.

We are more hopeful about the performance of ITV’s Studios business, which produces both scripted and unscripted content for ITV and third party broadcasters at home and abroad. While the first lockdown meant many productions were put on hold, we suspect it will also have seen viewers burn through back-catalogue material, increasing demand for new content. ITV will be hoping that boosts activity going forwards.

Unfortunately a second wave of lockdowns around the world won’t be doing the group any favours. And honestly we think these results could be pretty difficult. The debt position at the half year wasn’t dreadful, at 1.3 times cash profits, but the group can ill afford more cash outflows this quarter if conditions remain challenging going into 2021.

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

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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 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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