Week ahead: All eyes on the Budget

(Sharecast News) - Following the usual flurry of leaks and U-turns, the main focus in the UK next week will be the Budget, which is due on Wednesday. Michael Hewson at MCH Market Insights, said: "We've had endless speculation on changes to pension thresholds, ISA thresholds, council tax bands, changes to national insurance, income tax and VAT thresholds, additional bank surcharges, there's few trial balloons that haven't been floated in the press in recent weeks, to the point that it's a surprise a no-fly zone hasn't been implemented over Heathrow Airport given the number of kites that were being sent up.

"Earlier this month expectations were raised that income tax rates were set to be increased before it became clear that the Chancellor probably wouldn't be able to get the changes past her own MPs. Not only has this shredded what was left of the Chancellors credibility, which was already low to begin with given the reversals seen with respect to spending cuts, but it's also shattered the idea that this government has any credible plan at all for dealing with the problems facing the UK economy.

"With expectations already low and anecdotal reports that Treasury officials are as equally clueless about the inner workings of the bond markets, there is little expectation that Rachel Reeves, or anyone in government, can deliver anything meaningful at all when it comes to boosting growth. There may be some minor tinkering when it comes to stamp duty on shares, but there are very low expectations that this Chancellor, or anyone in this economically illiterate administration will be able to reverse the clouds of pessimism hanging over the UK economy."

On the corporate front, Tuesday will see the release of full-year results from budget airline easyJet, half-year results from Telecom Plus and a third-quarter trading update from B&Q owner Kingfisher.

A full-year trading update from Halfords is due on Thursday, along with half-year results from Pennon.

Aarin Chiekrie, equity analyst at Hargreaves Lansdown, said: "EasyJet is all set to release its full-year results next week following a robust third quarter performance that saw pre-tax profits surge 21% to £286 million, driven by higher revenues and lower average fuel costs.

"The group expects good profit growth for the full year, with consensus pointing to a 12% uplift in operating profits to £0.7 billion.

"Analysts are expecting to hear that strong momentum in its package holiday arm has continued. Revenues here have been growing at high double-digit rates, and pre-tax profits are now expected to make up around one third of the group's total.

"But the company has previously flagged concerns about disruptions from the French Air Traffic Controllers' strike, as well as a recent uptick in fuel prices that could impact final figures."



Monday November 24

INTERIMS

DSW Capital

INTERIM DIVIDEND PAYMENT DATE

Aeorema Communications

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

IFO Business Climate (GER) (09:00)

IFO Current Assessment (GER) (09:00)

IFO Expectations (GER) (09:00)

GMS

Life Science REIT

FINALS

Cerillion

AGMS

Supermarket Income Reit

Tuesday November 25

INTERIMS

Accsys Technologies, AO World, Cordiant Digital Infrastructure Limited NPV, Cranswick, GB Group, Intercede Group, Molten Ventures, Sosandar, Supreme , Telecom Plus

INTERIM DIVIDEND PAYMENT DATE

ITV

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Consumer Confidence (US) (15:00)

Gross Domestic Product (GER) (07:00)

House Price Index (US) (14:00)

Pending Homes Sales (US) (15:00)

FINALS

Compass Group, Marston's, Renew Holdings

AGMS

Aura Energy Limited NPV (DI), Seraphim Space Investment Trust, Transense Technologies

TRADING ANNOUNCEMENTS

Intertek Group, Kingfisher

FINAL DIVIDEND PAYMENT DATE

Dunelm Group

FINAL EX-DIVIDEND DATE

Brunner Investment 5% Prf

Q1

Seraphim Space Investment Trust

Wednesday November 26

INTERIMS

Cake Box Holdings, Helical, Iomart Group, Pets at Home Group

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Chicago PMI (US) (14:45)

Continuing Claims (US) (13:30)

Crude Oil Inventories (US) (15:30)

Durable Goods Orders (US) (13:30)

MBA Mortgage Applications (US) (12:00)

New Homes Sales (US) (15:00)

Personal Consumption Expenditures (US) (15:00)

Personal Income (US) (15:00)

Personal Spending (US) (15:00)

FINALS

Auction Technology Group , Impax Asset Management Group

EGMS

NB Distressed Debt Investment Fund Limited

AGMS

Altona Rare Earths, Avation, Celsius Resources Limited (DI), Coral Products, Fidelity Asian Values, Seed Capital Solutions , Seeing Machines Ltd. NPV (DI), Sutton Harbour Group

FINAL DIVIDEND PAYMENT DATE

Hays, Strategic Equity Capital

Thursday November 27

INTERIMS

ActiveOps, First Property Group, Latham (James), Schroder Real Estate Investment Trust Ltd, VP

INTERIM DIVIDEND PAYMENT DATE

Octopus AIM VCT 2

INTERIM EX-DIVIDEND DATE

3i Group, Braemar , Calnex Solutions , Castings, CMC Markets, CML Microsystems, FirstGroup, Fuller Smith and Turner 6% 1st Cumulative Preference 1, Fuller Smith and Turner 8% 2nd Cumulative Preference 1, Great Portland Estates, Hill and Smith, International Consolidated Airlines Group SA (CDI), Investec, Johnson Matthey, Land Securities Group, Marks & Spencer Group, Michelmersh Brick Holdings, Norcros, Oxford Instruments, Severn Trent, Tatton Asset Management , Volex, Worldwide Healthcare Trust

QUARTERLY PAYMENT DATE

Tetragon Financial Group Limited

QUARTERLY EX-DIVIDEND DATE

BlackRock World Mining Trust, HICL Infrastructure

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Consumer Confidence (EU) (10:00)

Continuing Claims (US) (13:30)

Economic Sentiment Indicator (EU) (10:00)

GFK Consumer Confidence (GER) (07:00)

Industrial Confidence (EU) (10:00)

Initial Jobless Claims (US) (13:30)

M3 Money Supply (EU) (09:00)

Pending Homes Sales (US) (15:00)

Services Sentiment (EU) (10:00)

GMS

RentGuarantor Holdings

SPECIAL EX-DIVIDEND DATE

Canadian General Investments Ltd.

EGMS

Societatea Energetica Electrica SA GDR (Reg S)

AGMS

Aptamer Group, Atlantic Lithium Limited NPV (DI), Bellway, Bradda Head Lithium Limited NPV (DI), Eesti Energia AS Perp Non-Call 5.25 Cap Secs, EnSilica , Jpmorgan Uk Small Cap Growth & Income, Litigation Capital Management Limited (DI), Petra Diamonds Ltd.(DI), Wellnex Life Limited Npv (DI)

FINAL DIVIDEND PAYMENT DATE

PZ Cussons, Wetherspoon (J.D.)

FINAL EX-DIVIDEND DATE

Craneware, Fidelity Special Values, Focusrite, Rotork 9.5% Cum Prf. #1, Tristel, YouGov

Friday November 28

INTERIMS

Foresight Environmental Infrastructure Limited

INTERIM DIVIDEND PAYMENT DATE

Anpario, Bloomsbury Publishing, Hilton Food Group, JD Sports Fashion, Me Group International, Sanderson Design Group

QUARTERLY PAYMENT DATE

City of London Inv Trust, Custodian Property Income Reit, ICG Enterprise Trust, Octopus Renewables Infrastructure Trust , Picton Property Income Ltd, Seplat Energy (DI)

QUARTERLY EX-DIVIDEND DATE

Diversified Energy Company

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Import Price Index (GER) (07:00)

Retail Sales (GER) (07:00)

U. of Michigan Confidence (Final) (US) (15:00)

Unemployment Rate (GER) (08:55)

Q3

Societatea Energetica Electrica SA GDR (Reg S)

SPECIAL DIVIDEND PAYMENT DATE

Seplat Energy (DI)

EGMS

Wishbone Gold (DI)

AGMS

Berkeley Energia Limited (DI), CAP-XX Limited, Future Metals Nl (DI), New Frontier Minerals Limited (DI), Synergia Energy Ltd NPV, Wishbone Gold (DI)

UK ECONOMIC ANNOUNCEMENTS

Nationwide House Price Index (07:00)

FINAL DIVIDEND PAYMENT DATE

Abrdn UK Smaller Companies Growth Trust, Fonix , Mcbride, Thorpe (F.W.)