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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.

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

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

31-Aug
No FTSE 100 or FTSE 250 reporters
01-Sep
No FTSE 100 or FTSE 250 reporters
02-Sep
Barratt Developments* Full Year Results
03-Sep
Melrose* Half Year Results
Kainos Trading Statement
04-Sep
Berkeley Group Holdings* Trading Statement

*Companies on which we will be writing research.

Melrose – Sophie Lund-Yates, Equity Analyst

We’ve already had a half year trading update from Melrose, so there shouldn’t be too many surprises in next week’s results.

Revenue fell 27%, reflecting the very difficult conditions in both the aerospace and automotive sectors - which are both key to Melrose’s fortunes. The group said that despite being loss making in the second quarter, it expects a small underlying operating profit for the half overall. Next week we’ll find out just how small.

The other thing to look for will be the outlook statement, especially in Aerospace. The grounding of planes and ongoing travel restrictions mean this important end market has shrunk. Full year sales in this division are expected to be 25%- 30% lower than last year, and we’d like to see that those predictions haven’t deteriorated. We’ll also get an idea of exactly where planned cost savings are coming from.

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Berkeley Group and Barratt Developments – Nicholas Hyett, Equity Analyst

The housing market has proved resilient in the face of the pandemic and associated recession. Nationwide’s House Price Index reported 1.5% growth in July, while Halifax showed 3.8% growth.

The market’s robustness can probably be attributed to several factors. Low interest rates have kept mortgages relatively affordable and have supported asset prices. Pent up demand as people delayed moving during lockdown and the Chancellor’s cut in Stamp Duty are also likely to have contributed to strength. The outlook is much more uncertain though, especially as restrictions on evictions and the furlough scheme come to an end.

Next week brings us full year results from Barratt Developments, and we expect them to broadly follow the pattern set by others in the sector. Completions for the year are likely to be down significantly, but house prices will probably have remained resilient and selling activity will have recovered. It’s not clear exactly how this will affect the bottom line, but profits are likely to be down. We don’t expect the dividend to be reintroduced just yet, but we’ll be reading management’s comments with care.

Berkeley Group is set to give us a trading update, and the group’s exposure to higher end London properties may make for especially interesting reading. In particular, we want to know whether demand is holding up as well in the capital as it is elsewhere. It would also be useful to know how efficiently the group is managing to build while maintaining proper social distancing.

See the latest Barratt Developments share price, charts and how to trade

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See the latest Berkeley Group share price, charts and how to trade

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Unless otherwise stated estimates are a consensus of analyst forecasts provided by Thomson Reuters. 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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