The Week Ahead: Persimmon, Bovis Homes, M&S

Monday 4 July

Wall Street is closed for Independence Day

Trading Statements

Oneview, RM, Kier

AGMs/EGMs

LGO Energy

Tuesday 5 July

Housebuilder Persimmon is one of the worst-performing blue chip shares since the Brexit vote. Redrow said last Tuesday that business is booming, and Persimmon is also expected to says it's traded well through the first half of 2016.

"We believe the group’s regional exposure (no operations in London) and product mix (strong bias to first-time buyer product) will provide some resilience in trading as we enter a period of higher uncertainty," says Peel Hunt analyst Clyde Lewis.

A forward order book of £2.15 billion reported mid-April is expected to have "strengthened significantly". The prospective dividend yield currently stands at 7.6%.

Trading Statements

Imagination Technologies, Polar Capital Technology Trust, Solid State, Carillion, The Gym Group, Persimmon

AGMs/EGMs

Aberdeen Japan Investment Trust, B.S.D Crown, Chariot Oil & Gas, Daily Internet, Northern Investors Co, Software Radio Technology, Young & Co's Brewery

Wednesday 6 July

Trading Statements

Booker

AGMs/EGMs

Altitude Group, Booker, Mobile Tornado Group, Palace Capital, J Sainsbury, Shires Income, Summit Germany, TechFinancials

Thursday 7 July

Mid-cap housebuilder Bovis Homes has been steadily recovering from a post-Brexit mauling.

"We believe it is too soon after the EU referendum to form a clear picture of how demand is shaping up and we expect management to keep its powder dry with regard to explicit reservation rates and cancellation rates since the vote," writes Peel Hunt's Lewis. "Bovis has no operations in central London, where there had been a slowdown in activity prior to the referendum."

The analyst looks for first-half completions of about 1,600 units versus 1,525 a year ago, and for pricing to have moved ahead by 5-6% due to underlying inflation and change in mix.

Marks & Spencer's first-quarter update will hope to brighten the mood among disgruntled shareholders, but new boss Steve Rowe will be cursing the weather. It'll be interesting to see how the wet summer has hit sales of shorts and sandals.

Trading Statements

NCC, ReNeuron Group, Associated British Foods, Dunelm, Great Portland Estates, Marks & Spencer, Premier Oil, Robert Walters

AGMs/EGMs

3i Infrastructure, Adgorithms, Atalaya Mining, China Africa Resources, C&C Group, Great Portland Estates, Maven Income & Growth VCT, Octopus AIM VCT, TwentyFour Select Monthly Income Fund

Friday 8 July

Trading Statements

AGMs/EGMs

Amedeo Air Four Plus, Aveva Group, Bonmarche, daVictus, Oxford Technology VCT, Value and Income Trust, Cogenpower

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.