HSBC faces the first big test of its new strategy of targeting growth
TP Icap will attempt to calm City nerves after its profit warning
Today
New HSBC boss John Flint will attempt to reassure investors over his three-year plan to return the UK’S biggest bank to “growth mode”.
After years of cost-cutting under former chief executive Stuart Gulliver, Mr Flint will bolster its presence in Asia, its largest market, and also push into the UK mortgage market. Interim results
HSBC, Synthomer, Ultra Electronics Economics
New car registrations (UK), Sentix investor confidence (EU)
Tomorrow
TP Icap, the world’s largest interdealer broker, is still reeling from its disastrous update last month when chief executive John Phizackerley was fired following a profit warning.
Its shares plunged after it slashed its cost savings target and swallowed an extra £10m in costs.
The company’s global head of broking, Nicolas Breteau, has been promoted to the top job and will be hoping to steady the ship at tomorrow’s interim results. Full-year results
Hargreaves Lansdown Interim results
Domino’s Pizza, Intercontinental Hotels, Interserve, Intertek, IWG, Meggitt, Rotork, Standard Life Aberdeen, TP Icap Economics
BRC sales (UK), Halifax house prices (UK), JOLTS job openings (US), Consumer credit (US)
Wednesday
City veteran Anne Richards’ departure from Prudential’s M&G has dealt the FTSE 100 insurance giant a blow ahead of its interim figures.
It is attempting to execute a radical overhaul to split the company into two separate businesses but will do so without Ms Richards who has been poached by Fidelity International, which manages around £231bn of assets. “A deeper dive into understanding the group’s new strategy is what we’re really looking for,” said Hargreaves Lansdown’s George Salmon. Interim results
Glencore, Hastings, Hill & Smith, Paddy Power. Pagegroup, Prudential, Spirax-sarco Trading update
Bellway, UDG Healthcare AGM
Footasylum, Investec, Majestic Wine
Thursday
Struggling retailer Card Factory will be hoping to slow a slide in profits but does not expect to return to growth until 2019.
The firm believes that higher wage costs and the impact of the weak pound will begin to ease to help growth rebound. Interim results
Cineworld, Coca-cola HBC, Derwent London, Evraz, G4S, Ibstock, Legal & General, Randgold Resources, Savills, Tritax Big Box REIT Trading update
Card Factory, TUI Economics
PPI (US), Wholesale inventories (US), ECB economic bulletin (EU)
Friday
No FTSE 350 companies reporting Economics
Trade balance (UK), Industrial production (UK), Construction output (UK), GDP growth second quarter first estimate (UK), Imports & exports (UK), CPI (US)