The week ahead: Dividend kings, GlaxoSmithKline, BP

There are fewer corporate results out over the next few days, but investors will be treated to updates from some of the market's true dividend kings.

Monday 5 February

Trading Statements

International Consolidated Airlines

AGM/EGM

Cerillion, Future

Tuesday 6 February

Investors will be keen to see if BP can outdo rival Royal Dutch Shell when it releases fourth quarter figures.

Shell's mixed results accompanied a wider market sell-off, so measuring the impact is not straightforward, and both Shell and BP have been poor performers over the past week, lagging the main index by around 3%.

Shell still good value despite results miss

Clearly, BP will benefit from a surge in oil prices to more than $70 a barrel. Look for underlying replacement cost profit of around $6 billion in 2017, more than double the number for the previous year.

For the final three months of last year, BP is tipped to have made $1.9 billion. UBS still thinks BP shares will be worth 550p in time, implying 10% upside.

Trading Statements

Mattioli Woods, Henderson Group, Hargreaves Lansdown, Frontier Developments, BP, St Modwen Properties, RM, Ocado, Amino Technologies, Babcock International

AGM/EGM

Wednesday 7 February

GlaxoSmithKline has had a proper rollercoaster rise for at least the past five years, regularly testing both the highs at around £17 and lows beneath £13.

The drugs goliath publishes fourth quarter results midweek, and investors will hope for better news and updates on the drugs pipeline.

"We believe expectations for GSK's current pipeline are at historical lows," writes broker Barclays, "noting it is worth just 5% of our group 2,250p per share [discounted cash flow] (only Sanofi is worse at 3%, with our coverage average at 10%), though as we highlight here the cupboard is not entirely bare."

There are no novel molecules apart from cabotegravir due P3 data in 2018, but P1/2 data could highlight potential for several oncology/inflammation assets, says Glaxo.

"If positive and accompanied by a coherent and committed business development strategy, we think that could provide a toehold from which the new head of R&D can rebuild sentiment from today's modest levels."

Trading Statements

Redrow, Tullow Oil, Smurfit Kappa, Rio Tinto, GlaxoSmithKline, Severn Trent, Grainger

AGM/EGM

Grainger, Nektan, Daily Mail and General Trust

Thursday 8 February

Trading statements

Thomas Cook, TalkTalk Telecom, Ashmore Group, Smith & Nephew, Tate & Lyle, Bellway, Compass Group, AA, EI Group

AGM/EGM

On The Beach, Premier Asset Management Group, Urban & Civic, Compass Group, Dewhurst, Dunedin Smaller Companies Investment Trust, easyJet

Friday 9 February

Trading statements

Victrex

AGM/EGM

Victrex, GCP Infrastructure Investments, Shaftesbury

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.