The week ahead: Carnival and the cruise to Christmas

As the City winds down for Christmas, investors are more likely to be enjoying mince pies at an AGM than analysing corporate results. But there is activity if you know where to look.

Monday 18 December

Trading statements

Goodwin (GDWN), the firm which makes check valves for oil, gas and LNG industries as well as steam valves for the power generation industries, is expected to report half-year results Monday, although it is yet to be confirmed.

Our companies analyst Richard Beddard said at first-quarter results in September: “Goodwin’s prospered before and I think it will prosper again, but it could be a long and rocky road.”

AGM/EGM

Minds + Machines

Tuesday 19 December

Carnival (CCL) shares fell during the summer amid hurricane disruption before trading sideways for two months. But there’s been an uptick in the cruise operator’s price ahead of fourth-quarter results due Tuesday.

But there is a risk here because Carnival’s financial year ends in November. That means the bulk of the hurricane impact will be felt in its final quarter.

Broker UBS rates Carnival a ‘buy’, but has just cut its price target to 5,680p from 5,940p. However, that still implies 18% upside from Friday afternoon’s share price of 4,805p.

Trading Statements

Carnival Corporation, Kromek Group

AGM/EGM

URU Metals

Wednesday 20 December

AGM/EGM

AFI Development, Green Dragon Gas, Creo Medical Group, Avation, British Empire Trust

Thursday 21 December

Bank of Japan interest rate decision – expectations are for no change in policy

AGM/EGM

Transense Technologies, Trinity Capital

Friday 22 December

Trading on the London Stock Exchange ends at 12:30pm London time. It starts again at 8am on Wednesday 27th December.

The US government also faces a shutdown on the 22nd as the current stopgap funding bill expires at midnight Friday.

Negotiators are said to be making progress tackling the main sticking point of defence and non-defence spending. It’s likely another stopgap continuing resolution will be passed rather than any agreement on a topline spending level for this fiscal year. That might have to wait until the new year.

For those still with one eye on the markets and not lastminute Christmas shopping, there’s the second revision to Q3 UK GDP Friday. Don’t expect any change from the previous quarter-on-quarter estimate of 0.4%.

AGM/EGM

KCR Residential Reit, BOS Global Holdings, Mobile Streams, Red Rock Resources

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.

Source.