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Thursday preview: Burberry, National Grid results due; UK GDP eyed
(Sharecast News) - On Thursday, full-year results from 3i Group, Burberry, Land Securities, National Grid and Premier Foods are due, as well as half-year results from Auction Technology and Grainger and trading updates from Watches of Switzerland, ITV and Shawbrook. Aarin Chiekrie, equity analyst at Hargreaves Lansdown, said National Grid is looking to plant itself at the heart of the electric revolution.
"The group recently announced upgraded plans to invest at least £70bn in expanding its infrastructure over five years to 2031 - a 70% uplift on the prior five-year period," he said.
"This comes as the group's looking to support the electrification of industrial demand as well as accelerating demand growth from data centres amid the rise of AI. With National Grid's revenues linked to the value of its asset base, this step-up in investment should help support high single-digit annual earnings growth over the period."
He said the group's full-year performance has been in line with management's expectations. "Markets are currently forecasting revenue to remain broadly flat at £18.3bn. Meanwhile, operating profits are expected to grow at a faster pace of nearly 8% to £5.8bn, helped by improvements in its UK transmission business."
As far as Burberry is concerned, UBS expects investor focus to be on growth by consumer nationality, particularly Chinese clients following the return to growth in the third quarter; commentary on the FY27 outlook and key drivers, especially versus expectations; and any updates on full-price retail trends, amid growing evidence of improving earnings quality through a reduced outlet footprint and higher margin sales.
The bank also expects investors to eye guidance for the licensing and wholesale channels, along with cash generation and any indication on the timing of a potential dividend resumption.
Neil Wilson, UK investor strategist at Saxo Markets, said it was also going to be "a monster day" for ex-dividends on the FTSE 100, with almost 20 points scrubbed from the index as HSBC, BP, Unilever, GSK, Tesco, Pershing Square and Coca-Cola HBC all trade ex-dividend.
On the macro calendar, UK first-quarter GDP data will be published, along with April US retail sales figures.
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