Week ahead: Halma results, Bellway update and ECB announcement in focus
By Michele Maatouk
Date: Friday 05 Jun 2026
(Sharecast News) - Next week looks set to be fairly quiet, although the latest policy announcement from the European Central Bank and results from the likes of Pennon and Halma will be in focus.
There are no FTSE 350 releases scheduled for Monday, but Tuesday will bring a trading update from housebuilder Bellway.
Richard Hunter, head of markets at Interactive Investor, said there will be much attention focused on the success or otherwise of the vital Spring selling season for Bellway, which in turn will provide a gauge on whether consumer sentiment has held firm.
"In addition, any updates to the group's current outlook will drive investor sentiment, be that positive or negative," he said.
"Despite its measured progress, the share price tells the story for Bellway. The shares have fallen by 34% so far this year, and remain 54% lower than their pre-pandemic peak in February 2020, which underlines the scale of the revival needed for the group to regain its former glories."
On Wednesday, investors will eye the release of full-year results from Fuller, Smith & Turner and Pennon and a trading update from WH Smith. In the US, quarterly results from technology firm Oracle will be out.
As far as WH Smith is concerned, UBS said the key focus for Q3 will be whether trading has stabilised after the first-half guidance reset, with FY26 adjusted pre-tax profit now guided to between £90m and £105m.
"Management cited lower confidence in summer passenger volumes, spend per passenger and consumer confidence, while UK margin guidance was cut to circa 13-14% on weaker operating leverage, higher promotions and labour & occupancy inflation," the bank noted.
"We watch for commentary on UK Air and Rest of World softness from Middle East disruption, whether Heathrow disruption is now behind, and whether North America can convert strong Travel Essentials growth into profit despite logistics/labour inflation, InMotion dilution and Resorts weakness."
UBS pointed out the shares are down around 23% year-to-date and trade on circa 11x FY27E price-to-earnings, reflecting the April guidance reset and weak travel/macro sentiment. "We believe the market is already discounting a soft FY26, but sentiment likely needs evidence of stabilising summer trading, resilient UK & NA margins and improving cash/deleveraging discipline," it said.
Thursday will see the release of full-year results from safety equipment firm Halma and budget airline Wizz Air, and quarterly results from Adobe across the pond.
The latest policy announcement from the European Central Bank will also be eyed amid expectations of a 25 basis points rate hike.
TD Securities said: "We expect the ECB to raise its deposit rate to 2.25% amid persistently high energy prices.
"While this hike aims to reinforce the credibility of the ECB's commitment to its inflation target and manage inflation expectations, the ECB is likely to continue to emphasise a data-dependent, meeting-by-meeting approach, with recent messaging shifting towards consensus for action but maintaining flexibility for future decisions based on updated projections."
On Friday, there are no FTSE 350 releases of note due, but the April GDP reading for the UK will be released.
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN