Admiral interim results spied for Wednesday; UK GDP also eyed

The mid-point of the week will see the insurance sector at the top of the corporate calendar with half-year results from Admiral Group PLC (LON:ADM), meanwhile, investors will also have interims from Just Eat PLC (LON:JET) to chew over as well as figures from cybersecurity group Avast PLC (LON:AVST) and construction group Balfour Beatty plc (LON:BBY).

On the macro front, investors will be eyeing the UK’s latest GDP figure, which is expected to show more effects of the coronavirus pandemic lockdown following Tuesday’s dismal unemployment figures. US inflation data will also provide some insight into the economic situation on the other side of the Atlantic.

Admiral results come into port

Motor insurer and owner Admiral Group PLC (LON:ADM) has performed relatively solidly during the pandemic disruption by projecting what some would consider an image of financial strength by offering customer rebates due to less driving during lockdown as well as price cuts for those struggling with monthly payments and keeping all of its staff on full pay without taking any government support.

Investors will likely be keeping an eye on pricing, costs and cash management measures in the half-year results, as well as any potential updates on the company’s usual special dividend, which is suspended after pressure from the Prudential Regulation Authority rather than due to any issues with its cash balance.

Brexit may also be a point of interest given Admiral has operations in Spain, Italy and France which could be affected by the separation of regulatory regimes.

Significant announcements exp[ected on Wednesday, August 12:

Interims: Admiral Group PLC (LON:ADM), Just Eat PLC (LON:JET), Avast PLC (LON:AVST), Balfour Beatty PLC (LON:BBY), Capital & Counties Properties PLC (LON:CAPC), CLS Holdings PLC (LON:CLI), Empresaria Group plc (LON:EMR), Hostelworld Group PLC (LON:HSW), Impact Healthcare REIT plc (LON:IHR), Spirax-Sarco Engineering PLC (LON:SPX), Lookers PLC (LON:LOOK)

Economic data: UK GDP, US inflation

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