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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.

The FCA has requested companies delay releasing full year results for at least two weeks. That’s to help make sure the information being published is as up to date as it can be as coronavirus causes unprecedented disruption to demand, supply chains and global stock markets.

That means the calendar looks a little thin compared to usual, but we expect there’ll be more unscheduled profit warnings and trading updates. We can’t say for sure who we’re going to hear from next week, but we’re almost certain it will be another busy one for equity analysts and investors everywhere.

Among the companies scheduled to release updates:

  • Pennon should prove it’s a case of business as usual

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

30-Mar
Pennon* Trading statement
31-Mar
Royal Dutch Shell Quarterly update
Smiths Half year results
01-April
No FTSE 350 reporters
02-April
No FTSE 350 reporters
03-April
No FTSE 350 reporters

*Events on which we will be writing research.

Pennon

Pennon is one of very few companies to have announced big news lately that was unrelated to coronavirus. Last week the group said it plans to sell its waste business for cash proceeds of around £3.7bn, which will be used to pay down debt and returned to shareholders.

With companies shelving dividends left, right and centre in the wake of current disruption, investors will want to know if they can expect to hear similar bad news in next week’s trading update. As a utility, Pennon’s income is largely sheltered from what’s going on at the moment – demand won’t dry up in the same way as it can for a retailer for example. We think this return to shareholders is still likely to go ahead for the time being, but as ever this isn’t guaranteed – especially in these unprecedented times.

One thing we can say for sure is now Viridor’s on the way out, investor attention should be squarely on the Water business. In all honesty Pennon is a classic case of “no news is good news”, and its reliable income remains its main attraction. Ideally next week we’ll get the sense that it’s business as usual at Pennon HQ.

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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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