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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 those currently scheduled to release results:

  • We’ll find out how shifting travel restrictions impacted easyJet’s summer expectations.
  • Coca-Cola will tell us how smoothly sales in bars and restaurants are recovering.
  • Unilever should report sales growth of around 5%.

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

19-Jul
BHP Group* Q4 Trading Statement
20-Jul
Anglo American Q2 Production Report
CVS Group* Trading Update
easyjet* Q3 Trading Statement
IntegraFin Holdings Q3 Trading Statement
Netflix* Q2 Results
21-Jul
Antofagasta Q2 Production Report
Close Brothers Group Q4 Trading Statement
Coca-Cola* Q2 Trading Statement
Euromoney Institutional Investor Q3 Trading Statement
Hochschild Mining Half Year Production Update
Mitie Group Q1 Trading Statement
QinetiQ Group Q1 Trading Statement
Royal Mail* Q1 Trading Statement
Verizon* Q2 Trading Statement
22-Jul
AJ Bell Q3 Trading Statement
Britvic Q3 Trading Statement
Centrica* Half Year Trading Statement
Countryside Properties Q3 Trading Statement
Howden Joinery Half Year Trading Statement
IG Group Holdings Full Year Trading Statement
Moneysupermarket.Com Half Year Trading Statement
Snap* Q2 Trading Statement
SSE* Q1 Trading Statement
Unilever* Half Year Trading Statement
Workspace Group Half Year Trading Statement
23-Jul
Beazley Half Year Results
Brewin Dolphin Holdings Q3 Trading Statement
Premier Foods Q1 Trading Statement
Vodafone* Q1 Trading Statement

*Companies on which we will be writing research.

easyJet – William Ryder, Equity Analyst

When we last heard from easyJet, the group was flying high on hopes that the relaxed travel restrictions would offer the group some semblance of a summer. Fast forward a few weeks, and between the government’s yo-yo travel restrictions and new quarantine rules for Brits in many European countries, we’re wondering if easyJet’s outlook has been lowered.

easyJet had expected to fly 15% of 2019 capacity between April and June, but Portugal exiting the green list during that time probably dented the group’s forecast.

However, with several of easyJet’s destinations now on the green list, we’re keen to know how bookings are progressing for the all-important summer travel season. We suspect everyone’s ready to shrug off restrictions and travel, but question whether the threat of a sudden change to quarantine rules is weighing on passenger confidence.

With more routes available, easyJet will be ramping up capacity and filling its planes. Passenger revenue was down 91% last quarter, but we should hopefully see some improvement in the latest results.

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

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HL’s Independent Non-Executive Director, Moni Mannings, is also an independent Non-Executive Director of easyJet plc.

Coca-Cola – William Ryder, Equity Analyst

During the pandemic, Coke made fewer sales in bars and restaurants and more in shops. This has put pressure on pricing and therefore profit margins. But now that society is opening back up, this trend can be expected to reverse. Overall volumes were in line with 2019 in March, and we’re keen to see how sales have evolved since then.

Interestingly, despite gaining market share in both shops and bars, Coca-Cola has managed to lose market share overall. This is because the group has an unusually strong position in bars and restaurants, so falling sales there have been enough to shrink Coke’s share of the market overall.

Alongside regional sales patterns, we’ll be looking for updates on Coke’s new brand launches. Coke has been employing a “lift and shift” strategy, which means successful products in one market are lifted and shifted to others. We’ll be looking for any products that seem like they could be especially successful.

See the latest Coca-Cola share price, charts and how to deal

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Unilever – Sophie Lund-Yates, Equity Analyst

CEO, Alan Jope, said Unilever expects to "deliver underlying sales growth in 2021 within our multi-year framework of 3-5%, with the first half around the top of this range". Next week we’ll find out if that target’s intact.

We expect the trading picture is still mixed. Unilever has a huge global footprint, and different markets are recovering from Covid at different rates. In particular, we’ll be looking at what the challenging conditions in India mean for the group. Closer to home, the European restaurant scene will also be worth a close up. Restrictions had been holding Unilever’s out-of-home revenue back. With vaccine roll outs continuing, we wonder if there are some green shoots of progress on that front.

Finally, we’d like to see Unilever’s new volume-led approach to sales remain. This is more favourable than relying on price increases, and in the first quarter volumes were up 4.7%, against price increases of 1.0%.

See the latest Unilever 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 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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    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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