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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:
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Important information - 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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Full Year Results


Close Brothers

Half Year Results

Diversified Energy Company

Full Year Results


Full Year Results


Q1 Trading Statement


Full Year Results



Full Year Results


Full Year Trading Statement


Full Year Results



Full Year Results

Direct Line Group*

Full Year Results


Full Year Results

Ithaca Energy

Full Year Results


Full Year Results


Full Year Results


J D Wetherspoon*

Half Year Results

Phoenix Group

Full Year Results

*Events on which we will be updating investors

Can takeover talk continue to support Direct Line’s valuation?

Direct Line has been struggling to find its footing in recent years. A potential takeover by Ageas has been a catalyst for rerating in the past month. But there’s still plenty hanging in the balance. The Board has rejected two proposals so far - both for a part cash, part stock deal. Investors will be keen to hear thoughts from management and details on ‘further initiatives’ supposedly coming next week.

Back to the day-to-day. Expect motor insurance price hikes to dominate headlines and commentary from the new CEO should point to improving insurance margins over the year. But Direct Line was slower to raise prices than the wider market which means it’ll take longer to feel the benefits than peers. There’s still a long way to go if Direct Line wants to return a stable dividend and restore investor confidence. In the meantime, the valuation is being supported by deal speculation, always a risky spot to be in.

Prices delayed by at least 15 minutes

Will full-price sales hold up at Next?

Guy Lawson-Johns

Equity Analyst

Next gave investors plenty to be happy about in their last update, with growth of 9.1% in its Online channel helping sales to exceed group forecasts. While it may be winning the online race, the retail sector remains a tough place to operate. And with a history of under-promising and over-delivering, markets have come to have high expectations.

In next week’s results, Next are looking to achieve £4.78bn in full price sales, up 4.0% on last year. Improved full-price sales means profits will be in focus too. Next increased its full-year pre-tax profit guidance by £20mn to £905mn, which looks achievable in our eyes.

Prices delayed by at least 15 minutes

Margins under the microscope for JD Wetherspoon

JD Wetherspoon has already flagged that sales were robust in the first half of its financial year, up 10.1% on a like-for-like basis. In next week’s half-year results, the group chaired by Tim Martin will reveal whether it’s managed to squeeze higher margins out of the increased pub takings. Whilst Wetherspoon has noted falling inflation, labour and energy costs have been called out as areas of concern.

The Chancellor’s budget was a mixed bag for the sector, so Wetherspoon will have to continue to rely largely upon operational efficiency to keep delivering the value offer that’s helped it grow its market share. The market will also be looking to see if the encouraging sales momentum seen late in the first half has continued in current trading.

Prices delayed by at least 15 minutes

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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Written by
Matt Britzman
Equity Analyst

Matt is an Equity Analyst on the share research team, providing up-to-date research and analysis on individual companies and wider sectors.

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Article history
Published: 15th March 2024