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
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.
Ifo business climate index (Germany); durable goods orders (US)
Fresnillo, Greggs, MoneySupermarket. com, Reckitt Benckiser, Sabre Insurance, St James’s Place, Vivo Energy
Full-year Games Workshop
Trading statement Sanne, Virgin Money
CBI distributive trades (UK)
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.
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
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)
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.
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
Business confidence (eurozone); unemployment (eurozone, Germany, Italy); GDP (Germany and US); jobless claims (US)
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.
British American Tobacco, BT, Coats, Glencore, Intertek, London Stock Exchange Group, NatWest
Paragon Banking, Pets at Home Economics
GDP (eurozone, Italy, France, Spain)