Shell and Bar­clays lead packed cal­en­dar for City up­dates

Bank­ing and big tech will dom­i­nate, as in­vestors weigh up the ef­fects of Covid-19 on heavy­weights

The Daily Telegraph - Business - - Business - Simon foy

Get ready for one of the busiest weeks of the cor­po­rate cal­en­dar so far this year. UK banks will be the high­light, but there will also be up­dates from heavy­weights in­clud­ing Glax­oSmithK­line, As­traZeneca, Shell, BT and Next.

In the US, tech be­he­moths Ap­ple, Ama­zon, Face­book and Google par­ent Al­pha­bet will all pub­lish re­sults too.

To­day

In­terim re­sults

As­cen­tial

Eco­nom­ics

Ifo busi­ness cli­mate in­dex (Ger­many); durable goods or­ders (US)

Tomorrow

In­terim re­sults

Fres­nillo, Greggs, Money­Su­per­mar­ket. com, Reckitt Benckiser, Sabre In­surance, St James’s Place, Vivo En­ergy

Full-year Games Work­shop

Trad­ing state­ment Sanne, Vir­gin Money

Eco­nom­ics

CBI dis­tribu­tive trades (UK)

Wednesday

Bar­clays is clearly vul­ner­a­ble to a rash of sour loans due to the pan­demic. But a strong per­for­mance from its in­vest­ment bank dur­ing the mar­ket chaos of the first quar­ter is likely to off­set some of the pan­demic-in­duced hit to its re­tail arm.

Prof­its fell sharply in its most re­cent trad­ing up­date. But the con­sen­sus among an­a­lysts is that the lender will make a pre-tax profit of £491m for the sec­ond quar­ter, com­pared with £1.5bn made dur­ing the same pe­riod last year and £913m in the first quar­ter of this year. Lloyds and RBS re­port later in the week.

In­terim re­sults

As­ton Martin Lagonda, Bar­clays, Drax, FDM, Glax­oSmithK­line, Jupiter Fund Man­age­ment, Rio Tinto, Smith & Nephew, Taylor Wim­pey, Unite, Weir Trad­ing state­ment

Aveva, Hyve, Next, Premier Foods, Tul­low Oil

Eco­nom­ics

Mort­gage ap­provals, con­sumer credit (UK); goods trade bal­ance, Fed­eral

Shell’s re­fin­ery on Pu­lau Bukom off Sin­ga­pore. It will up­date in­vestors on Thurs­day

Re­serve mon­e­tary pol­icy an­nounce­ment (US)

Thurs­day

Oil ti­tan Shell has had a rough time of late. Last month, it said it would take a $22bn (£17.2bn) hit from the slump in the price of oil and gas af­ter a col­lapse in global de­mand.

This came off the back of a de­ci­sion to cut its div­i­dend for the first time since the Sec­ond World War, deal­ing a blow to the many thou­sands of re­tail in­vestors who rely on the stock for an in­come.

The lat­est quar­ter is ex­pected to show a sharp fall in mar­gins, but the main fo­cus will move to the com­pany’s out­look and what fur­ther plans it has to shift to­wards re­new­able en­ergy.

In­terim re­sults

Lloyds Bank­ing Group, Royal Dutch Shell, An­glo Amer­i­can, As­traZeneca, BAE Sys­tems, Equiniti, Inch­cape, In­di­v­ior, KAZ Min­er­als, Man Group, Mor­gan Ad­vanced Ma­te­ri­als, Ren­tokil Ini­tial, Robert Wal­ters, RSA In­surance, Schroders, Stan­dard Char­tered, Ul­tra Elec­tron­ics Hold­ings, Ve­su­vius, 3i

Trad­ing state­ment

Com­pass, Evraz

Eco­nom­ics

Busi­ness con­fi­dence (euro­zone); un­em­ploy­ment (euro­zone, Ger­many, Italy); GDP (Ger­many and US); job­less claims (US)

Fri­day

Af­ter the Gov­ern­ment’s de­ci­sion to ask businesses to re­move Huawei equip­ment over the next seven years, BT in­vestors will be keen to see if there is any up­date on the longer-term costs in terms of de­lay­ing the im­ple­men­ta­tion of its 5G roll­out.

In­terim re­sults

Bri­tish Amer­i­can To­bacco, BT, Coats, Glen­core, In­tertek, London Stock Ex­change Group, NatWest

Trad­ing state­ment

Paragon Bank­ing, Pets at Home Eco­nom­ics

GDP (euro­zone, Italy, France, Spain)

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