Politics

ITV big hitter among Wednesday updates

Wednesdays corporate calendar is set to be dominated by trading updates from the FTSE 100 trio of ITV PLC (LON:ITV), online grocery firm Ocado Group PLC (LON:OCDO) and insurance firm Smith & Nephew PLC (LON:SN.).

There will also be a smattering of macro economic data for investors to keep an eye on in the form of the UKs construction PMI and US ADP unemployment figures.

ITV wary of ad revenue slump

A trading update from ITV should provide investors with some more clarity on how the coronavirus (COVID-19) pandemic is impacting advertising spend as well as any knock-on effects on the broadcaster.

The company has previously said that it anticipated ad revenues to decline by around 10% in April, with expectations likely to be for more cost-cutting measures following the cancellation of the final dividend.

ITV investors are already licking their wounds after a difficult few months for the share price, which is currently trading at around an eight-year low and the company flirting with potential demotion from the FTSE 100 index.

Significant announcements expected for Wednesday 6 May:

Trading updates: Direct Line Group PLC (LON:DLG), ITV PLC (LON:ITV), Smith & Nephew PLC (LON:SN.), MPAC Group PLC (LON:MPAC), Ocado Group PLC (LON:OCDO), OneSavings Bank PLC (LON:OSB)

Finals: Vertu Motors PLC (LON:VTU)

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