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Earnings season has started and true to form, it has begun with a bang, with the likes of Tesco, Sage , Vedanta and ASOS to name but a few, giving us updates this week. To put it simply, some of these stocks have provided share price movements of up to 20% since their earnings release, despite Syrian geopolitical tensions and a potential US trade war with China. It seems as if investors are prepared to ignore these catalysts and are preferring to focus simply on earnings season.
Next week we have a barrage of companies updating and reporting earnings, not just in the UK, but also across the pond in the US. After Citigroup, JPMorgan and Wells Fargo this afternoon, we have Goldman Sachs, Bank of America and Morgan Stanley to report report next week. How will these impact the UK banks, given the fact that they are usually seen as warm-up acts and pre-cursors.
Closer to home, we have the likes of Rio Tinto, BHP Biliton, Sky and Reckit Benkiser all reporting next week . How will these fare? Good or bad? Great or ugly.
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Avin Nirula, Trader, 13 Apr 2018
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