Week ahead: Barclays, Meta and Netflix results due
The UK corporate calendar will get busy next week, with results from the likes of Barclays and Sainsbury’s due, while in the US, Meta, Tesla and Netflix are also slated to report earnings.
Monday will bring full-year results from ITM Power, while on the macro calendar, Chinese third-quarter GDP figures and retail sales and industrial production data for September are due.
On Tuesday, investors will eye a third-quarter production report from Anglo American and Q3 trading statements from Bunzl, XP Power and Sabre Insurance. In the US, quarterly results from GE Aerospace and Netflix are due.
On the macro front, the latest UK jobs data will be among the highlights, along with eurozone construction output figures for August and US pending home sales data for September.
On Wednesday, trading updates from Aberdeen, Halfords, Quilter, Segro and Liontrust Asset Management will be in focus, along with Q3 production reports from precious metals miners Fresnillo and Hochschild,
In the US, third-quarter results from Tesla, Meta, Texas Instruments and Philip Morris are due.
Market participants will also turn their attention to UK consumer and producer price inflation data for September.
Thursday will be jam-packed with corporate news. Barclays will release Q3 results, while Sainsbury’s will publish interim results and IG Group is due to put out a strategy update. Q3 trading updates from Inchcape, Rentokil, LSEG, InterContinental Hotels Group and Rathbones will also be eyed, along with nine-month trading updates from Pearson and Relx, and a Q1 trading update from Renishaw.
As far as Sainsbury’s is concerned, AJ Bell analysts Russ Mould and Danni Hewson said: “Mergers and acquisitions are likely to overshadow half-year results after recent reports about a possible multi-billion-pound tie-up with rival Morrisons.
“It only seems like yesterday that Sainsbury’s proposed takeover of Asda in 2019 was blocked by the competition regulator, which begs the question of what has changed in UK food retailing to make mega-deals more palatable.
“Fierce competition has kept UK food inflation below levels forecast earlier in the year, but it accelerated in the four weeks to early October, while some industry groups predict food inflation will touch 7% in 2027.
“How long Sainsbury’s can maintain market share gains while making cost savings to offset rising input costs will be key for free cash flow, dividends and share buybacks.”
In the US, quarterly earnings from Procter & Gamble are scheduled for release, along with the latest initial jobless claims.
On Friday, the latest UK GfK consumer confidence index will be out, while across the pond, American Express is slated to report quarterly earnings.