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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 next week:

  • Reckitt Benckiser faces challenging comparisons from last year, but has finally got rid of its Chinese millstone
  • Facebook reveals how users and advertisers have responded to recent headlines
  • AB InBev looks to build back its balance sheet as bars reopen

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

25-Oct
HSBC* Q3 Results
Petropavlovsk Q3 Production Report
26-Oct
Alphabet Q3 Results
Bunzl Q3 Trading Update
Essentra Q3 Trading Update
Hochschild Q3 Production Report
Microsoft* Q1 Results
Polymetal International Q3 Production Report
Reckitt Benckiser* Q3 Trading Update
Softcat Full Year Results
Visa* Full Year Results
Whitbread* Half Year Results
27-Oct
AVEVA Group Q3 Trading Update
Centamin Q3 Production Report
Coca-Cola* Q3 Results
ContourGlobal Q3 Trading Update
Facebook* Q3 Results
Fresnillo Q3 Production Report
GlaxoSmithKline* Q3 Results
Heineken* Q3 Trading Update
McDonalds* Q3 Results
Network International Q3 Trading Update
Spotify* Q3 Results
28-Oct
AB InBev* Full Year Trading Update
Airtel Africa Half Year Results
Amazon* Q3 Results
Apple* Full Year Results
C&C Group Half Year Results
Elementis Q3 Trading Update
EVRAZ Q3 Trading Update
Helios Towers Q3 Results
Inchcape Q3 Trading Update
Indivior Q3 Results
Lloyds* Q3 Interim Management Statement
Royal Dutch Shell* Q3 Results
Travis Perkins Q3 Trading Update
WPP* Q3 Trading Update
29-Oct
Computacenter Q3 Trading Update
ConvaTec Group Q3 Trading Update
Glencore* Q3 Production Report
Natwest* Q3 Results

*Events on which we will be updating investors.

Reckitt Benckiser – Nicholas Hyett, Equity Analyst

Rising input costs are expected to eat into Reckitt’s profit margins in the second half. With volume growth also somewhat lacklustre at the half year, the group has its work cut out.

Part of the challenge the group faces is the very strong results reported in 2020 – as coronavirus concerns drove uptake of its health and hygiene products. That will remain the case in the second half, and in all honesty we would view flat numbers as a positive result in products like Dettol and Lysol.

They also completed the disposal of their Chinese infant nutrition business in September. As a long-term detractor from performance, the completion of that bit of housekeeping should mean management have more time to focus on core business going forwards. That can only be good news.

See the Reckitt Benckiser share price, charts and our latest view

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Facebook – Nicholas Hyett, Equity Analyst

The regulatory and reputational heat on Facebook has been increasing in the last quarter. Facebook, Instagram and WhatsApp faced a major outage in early October, the group was accused of covering up research suggesting its products are bad for users’ mental health and WhatsApp was fined for incorrect use of customer data. All in all, a pretty horrible set of headlines.

However, the real question next week is whether the bad news has had much impact on users. The group’s no stranger to bad press, and that hasn’t stopped daily user’s rising 79% in just two years. Advertisers too seem to be willing to overlook bad press to access Facebook’s audience, with average revenue per user up 43.5% in just one year.

Management will hope this latest round of negative headlines is no different.

See the Facebook share price, charts and our latest view

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AB InBev – Nicholas Hyett, Equity Analyst

The re-opening of pubs and bars around the world should be good news for AB InBev – brewer of Budweiser, Corona and Leffe (to name just a few). Profits were already showing a dramatic improvement at the half year stage, and that trend could gather pace.

That would be something of a relief, because the real story at AB Inbev is the truly eyewatering level of debt the group is lugging around. Back in June, net debt stood at $83.4bn, or 4.4 times cash profits. While this may have been trimmed slightly, full year free cash flow is forecast to be just $7.7bn suggesting it could take years to get back under control.

Given the monumental task ahead, even positive third quarter results will be just a small step on a long road to recovery.

See the AB InBev share price, charts and our latest view

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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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