Advertisement
UK markets closed
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • FTSE 250

    19,884.73
    +74.07 (+0.37%)
     
  • AIM

    743.26
    +1.15 (+0.15%)
     
  • GBP/EUR

    1.1710
    +0.0017 (+0.14%)
     
  • GBP/USD

    1.2621
    -0.0001 (-0.01%)
     
  • Bitcoin GBP

    55,277.36
    -699.72 (-1.25%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • DOW

    39,807.37
    +47.29 (+0.12%)
     
  • CRUDE OIL

    83.11
    -0.06 (-0.07%)
     
  • GOLD FUTURES

    2,254.80
    +16.40 (+0.73%)
     
  • NIKKEI 225

    40,369.44
    +201.37 (+0.50%)
     
  • HANG SENG

    16,541.42
    +148.58 (+0.91%)
     
  • DAX

    18,492.49
    +15.40 (+0.08%)
     
  • CAC 40

    8,205.81
    +1.00 (+0.01%)
     

Week ahead in business and finance

Hammerson, the owner of the Bullring shopping centre in Birmingham, will face questions about its dropped £3.4bn bid for rival Intu - PA
Hammerson, the owner of the Bullring shopping centre in Birmingham, will face questions about its dropped £3.4bn bid for rival Intu - PA

Monday

No FTSE 350 companies reporting.

Economics

Composite PMI survey (US & EU), existing home sales (US)

Tuesday

Shopping centre giant Hammerson will have questions to face from relieved shareholders at its AGM after pulling out of its £3.4bn swoop for rival Intu Properties last week.

Hammerson blamed a deterioration in the UK retail market for walking away from the tie-up, but shareholders were reportedly ramping up the pressure on management over the deal which City analysts believed would dilute the company’s higher-quality portfolio.

Trading statement

Anglo American, London Stock Exchange, St James’s Place

ADVERTISEMENT

AGM

Hammerson, London Stock Exchange, Metro Bank

Economics

Public sector net borrowing (UK), CBI industrial trends survey (UK), new home sales (US)

Wednesday

Whitbread’s management will be feeling the heat at its full-year figures after a second activist investor revealed a stake in the Costa Coffee owner.

With rival activist Sachem Head unveiling a stake earlier in the year, feared hedge fund Elliott Advisors said it had built a 6pc interest in the FTSE 100 company, urging it to split up its Costa and Premier Inn businesses.

Boss Alison Brittain has said that the company is open to change and she will likely be forced to address the issue following the Elliott stake, according to Hargreaves Lansdown’s George Salmon.

He said: “At an operating level, times have been tough for Whitbread recently. Like-for-like sales have slowed and even reversed recently.”

Full-year results

Whitbread

Interim results

Fenner, Redefine International

Trading update

Antofagasta, Croda International, Fresnillo, GlaxoSmithKline, Intu Properties, Lloyds Banking Group, Metro Bank, Persimmon, Tullow Oil

AGM

British American Tobacco, Countrywide, Intu, Persimmon, Tullow Oil

Thursday

All eyes will be on Barclays’ investment banking figures amid fears that activist investor Sherborne will target the struggling division in its campaign.

The Sunday Telegraph revealed that Sherborne – which has taken a 5.2pc stake in the banking giant – is attempting to woo shareholders to support its cause and is thought to be pushing for a major shake-up in Barclays’ investment banking division.

Barclays share price
Barclays share price

But Sherborne is likely to face major opposition from the group’s management over any large changes to the division, with plans thought to be in place to resist any attempt to break up the bank.

After a recent sector-wide lull in investment banking, see-sawing markets in the first quarter of the year could help Barclays’ troubled arm.

Full-year results

Capita

Trading update

Barclays, Cobham, Elementis, Hastings, KAZ Minerals, Meggitt, Royal Dutch Shell, Shire, Synthomer, Taylor Wimpey, Weir

AGM

Aggreko, Cobham, Just Eat, Meggitt, Taylor Wimpey, Weir

Economics

Finance loans for housing (UK), CBI distributive trades survey (UK), durable goods orders (US), wholesale inventories (US), ECB monetary policy meeting (EU)

Friday

The “Beast from the East” is expected to knock theme park owner Merlin Entertainments’ recent trading. Barclays analysts warned of a “subdued performance” at the company’s Legoland park during the cold snap, adding that this year’s figures are unlikely to be a catalyst for Merlin’s struggling share price.

Full-year results

Virgin Money

Trading update

Computacenter, Merlin Entertainments, Rotork, Royal Bank of Scotland, Travis Perkins

AGM

Merlin Entertainments, Ultra Electronics, Travis Perkins

Economics

GDP first-quarter first estimate (UK & US), GfK consumer confidence (UK), consumer confidence (EU)