Monday 18 November
- First-half results from Big Yellow and Sirius Real Estate
- Rightmove UK house price index
- US NAHB house building industry survey
- G20 meeting in Rio de Janeiro (first day of two)
Tuesday 19 November
- Full-year results from Diploma and Avon Protection
- First-half results from CML Microsystems, Revolution Beauty, GB Group and Gear4Music
- EU inflation
- US building permits
- US housing starts
- G20 meeting in Rio de Janeiro (second day of two)
- In Asia, quarterly results from Xiaomi
- In Europe, quarterly results from Sonova and ThyssenKrupp
- In the US, quarterly results from Wal-Mart, Lowe’s, Medtronic, Dollar Tree, Amer Sports and Dolby Laboratories
- Imperial Brands full-year results
Tobacco company Imperial Brands will release its full year results on 19 November with shares trading at a five-year high, despite regulations and taxes on cigarettes and vapes.
This year’s numbers will be the fourth set for chief executive Stefan Bomhard’s five-year plan. In the year to September 2023, prices were raised 11% and Next Generation Product sales increased 26%. Analysts expect these two areas to continue to rise in the 2024 results.
Analysts will also watch for an adjusted operation profit of £3.9bn, the same as last year, and earnings per share of 295p, increasing from 279p.
Russ Mould, AJ Bell investment director, Danni Hewson, AJ Bell head of financial analysis, and Dan Coatsworth, AJ Bell investment analyst, said: “Attention will then switch to the dividend. Imperial Brands’ annual dividend growth streak started with its flotation in 1996 but ended in 2020 when the company cut the annual payment by a third to 137.7p a share.
“The tobacco giant has, however, since managed three consecutive increases and analysts are looking for a fourth straight advance to 153.3p a share in these full-year results. A further increment to 161.1p a share is expected in the year to September 2025.”
Imperial Brands also has a hefty share buyback process in place, with the intention of repurchasing £1.25bn in shares to next September, which would make a total of £2.25bn with those already repurchased. This accounts for over 11% of the company’s market cap.
Wednesday 20 November
- Full-year results from Sage, Mitchells & Butlers and Tracsis
- First-half results from Rotork and Softcat
- Chinese one- and five-year interest rates
- UK inflation
- European Central Bank Financial Stability Review
- German producer price (factory gate) inflation
- US oil inventories
- In Europe, quarterly results from Baloise and Soitec
- In the US, quarterly results from Nvidia, Palo Alto Networks, Target, Snowflake and Nio
Thursday 21 November
- Full-year results from Britvic and Grainger
- First-half results from Jet2, Mitie, Speedy Hire, Norcros and Warehouse REIT
- Trading statements from JD Sports Fashion, Crest Nicholson and Breedon
- UK government borrowing
- US weekly unemployment claims
- In Asia, quarterly results from Baidu
- In Europe, quarterly results from Subsea7
- In the US, quarterly results from Intuit, PDD, Deere, Warner Music and Gap
- Halma first-half results
Halma, a FTSE 100 company providing hazard detection and security technologies, will share its first-half results on 21 November.
The company is trading close to a one-year high, but below its 2021 peak.
“The mandatory nature of investment in this area creates consistent business flows and sticky customers, a combination which gives Halma a degree of pricing power. That in turn can mean high margins, good returns on capital, strong free cash flow and a growing dividend for investors over the long term,” Mould, Hewson, and Coatsworth said.
In the past 45 consecutive years, Halma has increased its dividend distribution by at least 5%. For the first half, analysts anticipate the divided to grow 7% to 23.05 a share.
“September’s trading update featured no shocks and for the full year to March 2025, chief executive Marc Ronchetti has guided to “good” organic constant currency revenue growth and an adjusted operating margin of 21%, compared to 20.8% a year ago,” the AJ Bell team said.
For the whole financial year, analysts are forecasting an operating profit of £424m, up 12% from last fiscal year. In the first half of last year, operating profit sat at £190m.
“More strategically, shareholders and analysts will look out for updates on acquisitions, where Halma has an excellent track record of using small, bolt-on purchases to supplement organic momentum within the business. As of September’s trading update, Halma had already announced four deals for this financial year – two in the UK, one in Portugal and one in Spain,” Mould, Hewson, and Coatsworth said.
Friday 22 November
- First-half results from Workspace
- UK GfK consumer confidence
- UK retail sales
- Flash purchasing managers’ indices (PMIs) for manufacturing and services industries in Japan, Asia, the UK, Europe and USA
- In Asia, quarterly results from Meituan and Cathay Pacific Airways
