| CATEGORY: FINANCIAL DIARY SECTOR: TELECOMMUNICATIONS |
Week Ahead: Thanksgiving as earnings slow down |
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Fri 18 Nov 2005
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LONDON (SHARECAST) - While investors in the US may be preoccupied with Thanksgiving next week, economists will be awaiting news on interest rates.
Investors will be awaiting the publication of minutes from both the Federal Reserve on Tuesday and the Bank of England the following day.
While neither central bank has indicated any shift on policy, the first of steadily raising rates and the other of keeping them on hold, the minutes will be eyed for any indication of change early in the New Year.
Both sides of the Atlantic see the earnings season continue, though at a slower pace than in recent weeks with Enterprise Inns and InterContinental due this side while in the US the market awaits Campbell Soup and Deere.
Monday November 21
Telecoms carrier Thus is scheduled to deliver first half results on Monday and profits are expected to remain unchanged on last year as it struggles with intense competition in the sector.
Thus may choose to update on its strategy going forward after it failed in its bid to buy Energis earlier this year and possible further consolidation in the industry.
INTERIMS
Blue Star Mobile, Mice Group, Prelude Trust, Printing.com, Thus Group, Workspace Group, Z Group
INTERIM DIVIDEND PAYMENT DATE
Solitaire Group
QUARTERLY PAYMENT DATE
Premier Pacific
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Leading Indicators (US) (10:00)
FINALS
2 Ergo Group, BKN International AG, Care Uk, Fountains, Get Group, Nord Anglia Education, RM Group
EGMs
Gold Oil
AGMs
Centamin Egypt
FINAL DIVIDEND PAYMENT DATE
GR Holdings, Primary Health
Tuesday November 22
Speculation has UK pub operator Enterprise Inns announcing a major share buyback alongside its final results on Tuesday.
Enterprise Inns is believed to have been n discussions over how best to return cash to shareholders and it is thought it may look to return around £200m a year to shareholders.
The group is expected to deliver a pre-exceptional profit of nearly £300m for the 12 months to September, as it benefits from the acquisition of the Unique Pub Company, which it bought in March 2004.
Hotel group InterContinental is publishing third quarter results on Tuesday and the group is likely to detail further cash returns to shareholders alongside the figures.
InterContinental has already returned around £1.9bn as it sells off its hotel operations and turns to managing hotels. The group also recently announced it would float Britvic, the soft drinks business it co-owns.
Some analysts have suggested that with further hotel sales InterContinental could return another £1bn over the next year, though any news on the state of the industry following the spate of terrorist attacks this summer will also be closely monitored.
INTERIMS
CML Microsystems, Cranswick, Cropper (J), Great Portland Estates, Hamworthy, ICAP, Intelek, Oxford Instruments, SSL International, Strathdon Investments, Supporta, Tribal Group, TRL Electronics, Viridian Group
INTERIM DIVIDEND PAYMENT DATE
Gallaher, Uk Select Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
FOMC minutes (US) (14:00)
FINALS
Abacus Group, Deltron Electronics, easyJet, Enodis, Enterprise Inns, Gaming Corporation, Greencore Group, Innovation Group, SCS Upholstery
EGMs
office2office
AGMs
Manganese Bronze, Merrill Lynch Greater European, Regent Inns, System C Healthcare
TRADING ANNOUNCEMENTS
Stanley Leisure
FINAL DIVIDEND PAYMENT DATE
Sirdar
QUARTERLY RESULTS
InterContinental Hotels Group
Wednesday November 23
Chemicals group Johnson Matthey should deliver an in-line set of results on Wednesday when the group reports interim figures, partly on the back of higher platinum prices.
Forecasts have ranged around the £104m mark for underlying profits though analysts may be keen to see if Matthey is sticking with guidance of profit growth accelerating in the second half.
Engineer Tomkins is expected to report third quarter earnings on Wednesday and analysts will be keen to see if it is continuing to make progress after first half profits slipped back.
The company blamed the performance earlier this year on a weaker North American automotive market, which is likely to still be hampering figures.
DSG International, formerly Dixons, releases a trading update on Wednesday and it will be keenly awaited for any news of how electrical goods are faring on the high street.
Recent reports have indicated that trading may be picking up, though consumers are still thought to be shying away from larger big-ticket goods. DSG may also update on its international strategy after it recently expanded operations with stores in emerging economies such as Poland.
In September DSG warned that sales had slowed even further over the summer with total group sales for the 16 weeks to 20 August down 3% on a like for like basis.
INTERIMS
Id Data, Johnson Matthey, Land of Leather, PayPoint, Phoenix IT Group, Provexis, Radstone Technology, Speedy Hire, Synergy Healthcare, Victoria
INTERIM DIVIDEND PAYMENT DATE
British Polythene, Hunting
INTERIM EX-DIVIDEND DATE
Amec, Big Yellow Group, Canaccord Capital, Chloride Group, Close Second AIM VCT, Collins Stewart Tullett, Dart Group, Eircom Group, eTechnology VCT, Liontrust Asset Managament, Man Group, Next, Noble VCT PLC 'A', RDF Group, Sainsbury, Vodafone, VT Group, Young and Co 'A'
QUARTERLY EX-DIVIDEND DATE
Henderson Far East Income Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Crude Inventories (US) (10:30)
Initial Claims (US) (08:30)
FINALS
Anglo Irish Bank Corp, Paragon Group, United Drug
EGMs
Foresight 3 Vct, Foresight 4 VCT, National Express
AGMs
Aberdeen Asian Smaller companies
TRADING ANNOUNCEMENTS
Crest Nicholson, DSG International
UK ECONOMIC ANNOUNCEMENTS
BoE MPC Minutes (Nov) (09:30)
FINAL EX-DIVIDEND DATE
A&J Mucklow, Advance Uk Trust, Eleco, Freeport, Keystone Inv Trust, Northern Venture, Sportingbet
QUARTERLY RESULTS
Coca Cola, Inmarsat
Thursday November 24
British Land will have some tough targets to beat when the property developer issues its first half results on Thursday following the well-received figures from rival Land Securities recently.
In July the company said the outlook for its investments remains promising, with its out-of-town locations favoured in a tougher retail climate. British Land added that vacancy rates in central London offices were declining.
Following DSG’s figures on Wednesday smaller rival Kesa Electricals is also due to update on trading on Thursday and its figures will be anticipated after it said first half profits slumped 38% in September.
The company said at the time that it was planning for negative like-for-likes of the same order as the first half. Like-for-like sales fell 0.8% for the six months to July.
GCap Media, owner of Capital FM, reports interim figures on Thursday and the market will want to hear how radio advertising is faring.
The group slumped over the summer when it warned ad revenues were weak though it indicated in September that October’s trading was looking slightly better. Analysts will be looking to see if this trend has continued.
INTERIMS
Avesco, Bank of Ireland, British Land, Castings, Expro International, GCAP Media, Halfords Group, Imagination Technologies, Itis Holdings, Latham (James), Renova Energy, Scapa Group
INTERIM DIVIDEND PAYMENT DATE
Carphone Warehouse, Foseco, SMG
FINALS
Euromoney Institutional Investor
AGMs
Britannic Guarenteed Income, Fairplace Consulting, Invesco Japan Discovery Trust
TRADING ANNOUNCEMENTS
Rotork
UK ECONOMIC ANNOUNCEMENTS
DMO gilt auction
FINAL DIVIDEND PAYMENT DATE
ICM Computer, JPMorgan Emerging Mkts Inv Trst, Lincat Group
Friday November 25
Revised third quarter GDP figures will be published on Friday and any change to the statistics will be closely monitored. The ONS has already announced slim growth of just 0.4% in the quarter.
The report cited a big fall in oil and gas production as a reason for the slowing growth and brought the year on year growth figure to 1.6%. Estimates originally targeted annual GDP growth of between 3% and 3.5%.
INTERIMS
Fuller Smith and Turner
INTERIM DIVIDEND PAYMENT DATE
Bovis Homes, Brit Insurance, Charles Taylor, Friends Provident, Game Group, Kerry Group'a', Moss Bros, Premier Foods, Scottish Mortgage Investment Trust, Senior Engineering, Ted Baker, Umbro, Wellington Underwriting
QUARTERLY PAYMENT DATE
City of Oxford Inc, Investec High Income Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Michigan Sentiment Rev. (US) (09:45)
EGMs
Autonomy
AGMs
African Platinum Plc, Aztec Resources Limited, Borsodchem RT, Trace Group
UK ECONOMIC ANNOUNCEMENTS
BBA mortgage lending (09:30)
GDP Q3 revision (09:30)
FINAL DIVIDEND PAYMENT DATE
Aberdeen Asian Smaller companies, Dechra Pharmaceuticals, DX Services, Epic Group, Go-Ahead Group, Mcbride, Sygen International, Wetherspoon
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| THUS - Thus Group |
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| Latest Prices |
| Name |
Price |
% |
| Thus Group |
0.000p |
0.00% |
| British Land Co |
466.90p |
0.00% |
| DSG International |
27.87p |
0.00% |
| Enterprise Inns |
104.90p |
0.00% |
| GCap Media |
0.000p |
0.00% |
| InterContinental Hotels Group |
1,107.00p |
0.00% |
| Johnson Matthey |
1,704.00p |
0.00% |
| Kesa Electricals |
128.50p |
0.00% |
| Tomkins |
324.70p |
0.00% |
| |
| FTSE 100 |
5,314 |
-0.11% |
| FTSE 250 |
10,074 |
+0.54% |
| FTSE 350 |
2,806 |
-0.02% |
| FTSE All-Share |
2,744 |
0.00% |
| FTSE Small Cap |
2,784 |
+0.74% |
| FTSE4 Good UK Index |
4,450 |
+0.11% |
| techMARK |
1,654 |
+0.63% |
| techMARK 100 |
1,842 |
+0.28% |
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