The week ahead: Retail banks, Glencore
Big-name blue-chips announce results soon, but it's all about Lloyds Bank, Barclays, HSBC and Glencore.
15th February 2019 16:19
by Lee Wild from interactive investor
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Big-name blue-chips announce results soon, but it's all about Lloyds Bank, Barclays, HSBC and Glencore.
Monday 18 February
Trading Statements
Petra Diamonds, Reckitt Benckiser
Tuesday 19 February
Trading Statements
Walker Greenbank, BHP Group, Blancco Technology, InterContinental Hotels Group, HSBC, BGEO Group, Spectris
Wednesday 20 February
Analysts at Deutsche Bank have adjusted forecasts for Glencore (LSE:GLEN) for the next few years following recent weaker-than-expected fourth-quarter production data.
"Investor feedback suggests a level of frustration with the ongoing news cycle, guidance changes and minor project delays," says the broker, but it still believes Glencore is the value play in the sector, offering a "double-digit free cash flow yield in 2019/20 and peer-leading volume growth."
An ongoing investigation by the US Department of Justice into corruption will remain an overhang, but Deutsche thinks the current discount to peers is "too severe".
"With a large growth kicker in 2019/20, there is self-help potential through volume and cash flow delivery, increasing shareholder returns and re-positioning the Coal division as an ex-growth cash cow. Progress on Democratic Republic of Congo tax negotiations will be an important catalyst in 2019."
Deutsche has a 'buy' rating and 390p price target on Glencore shares.
Source: TradingView (*) Past performance is not a guide to future performance
Trading Statements
Pan African Resources, Temple Bar Investment Trust, Glencore, Lloyds Banking Group, Hochschild Mining, Intu Properties
Thursday 21 February
Trading statements
Wilmington, Hays, Go-Ahead, InnovaDerma, RELX, RPS Group, Telefonica, TBC Bank, Serco, Telecom Egypt, Macfarlane Group, Georgia Capital, Barclays, BAE Systems, Anglo American, Centrica, Kaz Minerals, Morgan Sindall, Lucara Diamond Corp, Playtech
AGM/EGM
SSP Group, Integrafin Holdings, CSF Group
Friday 22 February
Trading statements
Pearson
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