The Week Ahead: It’s going to be a quiet week, with many investors having already packed up for the festive season
Most companies have managed to get their trading updates or results out of the way
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Time for traders to crack open the sherry and put their feet up; it’s going to be a quiet week with the financial markets winding down for Christmas.
The trading week will last until 12.30pm on Christmas Eve on Thursday, and will remain closed the following day for Christmas Day. Trading volumes are expected to be lower than normal, with many investors having already packed up for the festive season.
That might encourage the start of the so-called Santa Rally, when stocks traditionally rise from the middle of December into the new year, especially with the US Federal Reserve reassuring investors with a first interest rate rise in nine years. However, with seemingly no light at the end of the tunnel for oil and metals prices, there are concerns that investors could miss out on the sleigh ride north this year.
Chris Beauchamp, a market analyst at IG, said: “Stock markets will be trading mostly on sentiment, and while we have seen some of the post-Fed rally unwind, there is still time for markets to rally ahead of Christmas.”
Most companies have managed to get their trading updates or results out of the way, but there are still a couple of releases to look out for.
Broadcaster STV is due to update investors on trading tomorrow for the first time since August’s half-year results, when it revealed that revenues had dipped by 2 per cent to £53.6m and operating profits had fallen by 12 per cent to £8.6m.
Across the Atlantic, sports superbrand Nike reports its second-quarter results tomorrow. Traders are expecting earnings per share of 85 cents on sales of $7.8bn (£5.2bn), and Nike has a lot to live up to, having surpassed Wall Street’s earnings expectations for the past nine quarters.
Elsewhere, Betfair and Paddy Power shareholders will vote in Dublin on the £5bn merger of the two betting groups. The deal, which is expected to be finalised in the first quarter of next year, received the green light from the UK’s competition watchdog last week.
Since the tie-up plans were unveiled, shares in both companies have soared.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments