View our top six stories to look out for this week (20-24 November), plus our key company earnings schedule.
The week ahead: declining equity markets & UK budget preview
Our Chief Market Analyst, Michael Hewson, examines the recent weakness in equity markets and whether there is more to come. He also looks ahead to the upcoming UK budget and its possible effects on the pound.
Can AO World achieve a world-class share price?
Tuesday: It’s been an awful year for the online electronics retailer; its share price is languishing near all-time lows due to recent losses in its European business, which wiped out profit from its UK operations. AO World’s expansion in Germany and the Netherlands has come at a cost – although revenue rose in March, the share price continued to dive over profit fears in the region. With further concerns about UK consumer spending and tight margins, its UK profit could also come under pressure.
Easyjet spreads its wings
Tuesday: The UK’s biggest budget airline appears to have shown signs of benefiting from the travails of Ryanair – a 9.9% rise in passenger numbers in October helped to push the load factor from 90.2% up to 92.5%. EasyJet also recently announced the €40m acquisition of a number of slots in Berlin, which are set to consolidate its position at the expense of Ryanair and Lufthansa. This will also be the last set of results overseen by departing CEO Carolyn McCall, before Johann Lundgren replaces her in December.
Is Thomas Cook in need of a relaxing retreat?
Wednesday: It’s been a tough couple of years for the package holiday market, which has been hit hard by a declining pound, as well as a number of terrorist attacks across Europe and the Middle East. Thomas Cook’s summer update painted a more upbeat picture. Losses halved on the back of an 11% rise in summer bookings, as Bulgaria and Greece became alternative destinations of choice. Winter booking numbers were also showing improved demand as the company focuses more on its own brand hotels to boost numbers.
Fed minutes to provide rate insight
Wednesday: At its most recent meeting the US Federal Reserve left interest rates unchanged, as was expected. More importantly the updated language in the statement suggest a rate move in December is much more likely. Acknowledging this year’s hurricanes and the start of balance sheet reduction, the minutes should offer an insight into the mindset of Fed officials as to how the US economy is performing, and how many more rate rises we could see in 2018.
Is Europe’s economic recovery cooling off?
Thursday: Recent Q3 data has shown that economic activity in Europe accelerated in the summer months. However, early indications in October suggest some moderation, which could be carried over into November. Thursday’s German and French flash PMIs could reinforce that concern as the economic recovery matures in the wake of a stronger euro.
Index dividend schedule
If you trade indices, dividend payments from an index's constituent shares can result in either a credit or debit to your account.
View this week's indices dividend drop points table
|Monday 20 November||Results|
|Agilent Technologies (US)||Q4|
|Beacon Roofing Supply (US)||Q4|
|Enanta Pharmaceuticals (US)||Q4|
|Gladstone Capital (US)||Q4|
|Golub Capital BDC (US)||Q4|
|Mitie Group (UK)||Half-year|
|NEX Group (UK)||Half-year|
|Palo Alto Networks (US)||Q1|
|Urban Outfitters (US)||Q3|
|Tuesday 21 November||Results|
|Analog Devices (US)||Q4|
|AO World (UK)||Half-year|
|Babcock International Group (UK)||Half-year|
|Big Yellow Group (UK)||Half-year|
|Campbell Soup (US)||Q1|
|Chico's FAS (US)||Q3|
|Citi Trends (US)||Q3|
|Compass Group (UK)||Full-year|
|Cracker Barrel Old Country Store (US)||Q1|
|De La Rue (UK)||Half-year|
|Dollar Tree (US)||Q3|
|EI Group (UK)||Full-year|
|EVINE Live (US)||Q3|
|Hewlett Packard Enterprise (US)||Q4|
|Hormel Foods (US)||Q4|
|Jacobs Engineering Group (US)||Q4|
|Johnson Matthey (UK)||Half-year|
|Lowe's Cos (US)||Q3|
|New Jersey Resources (US)||Q4|
|Patterson Cos (US)||Q2|
|Renew Holdings (UK)||Full-year|
|Sage Group (UK)||Full-year|
|Scapa Group (UK)||Half-year|
|Signet Jewelers (US)||Q3|
|Telecom Plus (UK)||Half-year|
|Wednesday 22 November||Results|
|Countryside Properties (UK)||Full-year|
|Deere & Co (US)||Q4|
|Euromoney Institutional Investor (UK)||Full-year|
|NewRiver REIT (UK)||Half-year|
|SSP Group (UK)||Full-year|
|Thomas Cook Group (UK)||Full-year|
|United Utilities Group (UK)||Half-year|
|Thursday 23 November||Results|
|Caledonia Investments (UK)||Half-year|
|Caledonia Investments (UK)||Half-year|
|Majestic Wine (UK)||Half-year|
|Paragon Banking Group (UK)||Full-year|
|Severn Trent (UK)||Half-year|
|TR Property Investment Trust (UK)||Half-year|
|Friday 24 November||Results|
|No major US or UK companies reporting|
Company announcements are subject to change. All the events listed above were correct at the time of writing.
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