The week ahead: It's all about Brexit

There are plenty of interesting results due out in the days ahead, but all the talk is about Brexit and the inevitable political fallout and implications for financial markets, says Lee Wild.

Monday 10 December

Trading Statements

Photo-Me International, Eco Animal Health Group, Thruvision Group, Scottish Investment Trust, Hollywood Bowl Group, Nexus Infrastructure, Local Shopping REIT

AGM/EGM

VinaCapital Vietnam Opp Fund

Tuesday 11 December

More than two years after the EU referendum, politicians on all sides continue to debate the pros and cons of Brexit, and how best to limit the impact of Britain's exit from Europe.

For now, MPs are scheduled to vote on prime minister Theresa May's Brexit plan on Tuesday, but there are already calls to push it back to allow further discussion around the Irish border question. 

None of this is great for financial markets, and an ongoing US trade war with China, American interest rate policy, global economic growth and rising bond yields is a toxic mix causing jitters across international stock exchanges. 

But Brexit continues to have a direct impact on sterling and on the stock prices of companies doing much of their business in the UK. Rather than lofty valuations evident pre-EU referendum, domestic UK stocks now trade on very modest multiples by historic standards and offer attractive dividend yields.

Of course, a high yield implies risk, and there will be 'traps' both for value and income investors. But there are plenty of bargains around for those with a long-term investment horizon. Like Warren Buffett said: "Be fearful when others are greedy. Be greedy when others are fearful."

Given the uncertainty, greedy investors might decide to see if stock gets just a little bit cheaper before a much hoped-for Santa rally, which typically begins around the middle of the month.

Trading Statements

Ashtead Group, Shearwater, Zytronic, Driver Group, Redhall Group, Oxford Biodynamics, WPP

AGM/EGM

Reabold Resources, Minds + Machines, Shore Capital

Wednesday 12 December

Trading Statements

British American Tobacco, John Wood Group, Superdry, Polar Capital Technology Trust, Evgen Pharma, Dixons Carphone, The Fulham Shore

AGM/EGM

Netcall, Orchard Funding, Imaginatik, Bellway, Westpac Banking

Thursday 13 December

Trading statements

PZ Cussons, Serco, Ocado, Bunzl, Purplebricks, Sports Direct, Tungsten Corporation

AGM/EGM

Maestrano Group, Amur Minerals Corporation, Plexus Holding, Bacanora Minerals, Nanoco

Friday 14 December

Trading statements

Balfour Beatty, ReNeuron

AGM/EGM

Vinaland