Fevertree hopes bubble hasn’t burst as overseas market beckons
City analysts warn that investors may have to brace for transition year
Today
Interim results: Ascential Trading statement: Paragon
Tomorrow
Investors will hope shares in mixer maker Fevertree Drinks will regain their fizz as it begins to step up its overseas expansion. The Aim-listed firm’s share price has surged 101pc in the last year but the market darling’s momentum was slowed in May when it failed to deliver its customary earnings upgrade. City analysts warned that investors may have to brace for a transition year as it tries to tap the huge US market to maintain its explosive growth. Full-year results: IG, PZ Cussons
Interim results: Drax, Fevertree Drinks, Hammerson
Trading statement: Britvic
Wednesday
Glaxosmithkline is said to be mulling a break-up ahead of its latest update to the market amid shareholder pressure to focus on its pharmaceuticals business.
Top investors in Britain’s biggest drugmaker are reportedly urging boss Emma Walmsley to spin off the consumer healthcare division.
Interim results: Indivior, ITV, Metro Bank, Tullow Oil Trading statement: Antofagasta, Evraz, Fresnillo, GSK, Marston’s, Vodafone, Wizz Air
Thursday
Embattled estate agent Countrywide could unveil a £100m cash call as soon as Thursday to help slash its debt burden in half.
Bankers were finalising the details of the fundraise over the weekend to rescue the firm, which is struggling to fend off competition from online rivals Yopa and Purplebricks. The Sunday Telegraph reported that the company decided to tap investors after plans to raise a bond to replace a revolving credit facility fell through.
Full-year results: Diageo, Renishaw
Interim results: Anglo American, British American Tobacco, Countrywide, Intu, National Express, RELX, Schroders, Segro, Virgin Money
Trading statement: Astrazeneca, CMC Markets, Compass, Johnson Matthey, Kaz Minerals, Lancashire, Paypoint, Royal Dutch Shell, Sky, Smith & Nephew, Sophos, Tate & Lyle
AGM: CMC Markets, De La Rue, Johnson Matthey Economics: ECB monetary policy decision (EU)
Friday
Consumer goods giant Reckitt Benckiser will need to lift its ailing growth to win back investors spooked by its sales woes spilling into its new financial year.
After its sales were hit last year by a cyber attack and rising competition, the Durex and Nurofen maker admitted in April that it had missed City analysts’ sales estimates. Boss Rakesh Kapoor insisted that one-off factors were behind the latest disappointment and the company was still “running in an incredible way”.
Interim results:
Pearson, Reckitt Benckiser Trading statement:
BT
AGM:
United Utilities, Vodafone Economics:
GDP growth second quarter first estimate (US)