Stock Market News
Week Ahead: BHP Billiton, Dana Petroleum, Cairn
20-08-2010 11:55
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After a brief lull, the flow of results picks up again in the week commencing 22 August, with announcements from two companies currently involved in bid battles adding some spice to proceedings.
BHP Billiton brings out full-year figures on Wednesday that are likely to be overshadowed by the company's £26bn pursuit of fertiliser company Potash. The view among pundits seems to be somewhat contradictory; soeme have said that the Anglo-Australian mining giant's terms over value the Canadian company, yet the consensus is that BHP will probably have to raise its offer in order to persuade Potash shareholders to sell out.
Dana Petroleumissues interim figures on Friday, a week after South Korea's state-run oil company KNOC got fed up trying to negotiate an agreed bid for the Aberdeen-based oil company and went hostile with an £18 a share cash bid that values Dana at £1.87bn.
Whatever the figures are like, Dana's management is certain to be talking up the company's prospects and may give further views on why its impending purchase of a package of UK North Sea assets from Canada's Suncor for a minimum of £200m is a good thing.
Another Scottish oil company, Cairn Energy, has recently been involved in more amicable bid negotiations that led to it agreeing to sell off a controlling stake in Cairn India to Vedanta for $8.5bn.
The company releases figures on Tuesday, where it may outline more details on its programme in Greenland, which now becomes the main focus of the company's activities after the disposal of a large chunk of its stake in Cairn India.
Elsewhere in the oil sector, results from the support services companies are starting to flow after Wellstream got the ball rolling last week. AMEC and Wood Group are due to declare later in the week but Lamprell is first out of the traps on Monday.
As with Wellstream, the interim numbers from Lamprell are almost certainly going to be down on last year but there may be good news on the order book front.
"We expect the group to report net income of approximately $19.8m which compares to $31.6m a year earlier. We do not believe that the company will restore its interim dividend which was cut in 2009 on the back of the worsening operating environment. However, with the improving outlook we believe that the company might be tempted to pay a small dividend," said broker Panmure Gordon, which is bullish on the shares.
"The outlook is improving with the group winning three very significant orders in the year to date (two lift boats for Fred Olsen ($320m), one lift boat for Seajacks ($129m) and two jack-up rigs for NDC ($317m)). This should have allowed the company to increase its order book from $633m up to approximately $880m. This could have risen higher should the company have been awarded other orders and should the options on three further lift boats be taken up," the broker added.
Monday August 23
INTERIMS
Amlin, Bovis Homes Group, Hiscox, KazMunaiGaz GDR (Reg S), Kingspan Group, Lamprell, Lombard Medical Technologies, Petrofac Ltd., RCG Holdings
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Confidence Indicator (EU) (10:00)
Import Price Index (GER)
PMI Manufacturing Survey (FRA) (8.00)
PMI Service Sector Survey (FRA) (8.00)
PMI Manufacturing Survey (GER) (8.30)
PMI Service Sector Survey (GER) (8.30)
PMI Manufacturing Survey (EU) (09:00)
PMI Service Sector Survey (EU) (09:00)
Chicago Fed National Activity Index (US) (13.30)
Supermarket Sales (JPN)
AGMS
FFastFill, Iomart, Tata Tea GDS (Reg S)
TRADING ANNOUNCEMENTS
Punch Taverns
Tuesday August 24
INTERIMS
Aer Lingus Group, Cairn Energy, Corin Group, CRH, Development Securities, Gem Diamonds, H & T Group, John Wood Group, Jupiter Fund Management , OJSC Magnit GDR (Reg S), Oxford Biomedica, Persimmon, Plaza Centers, Promethean World, Source BioScience, Spectris, Spirax-Sarco Engineering, Vitec Group, WPP Group
INTERIM DIVIDEND PAYMENT DATE
Maven Income and Growth VCT 3
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Gross Domestic Product (GER) (7.00)
Private Consumption (GER) (07:00)
Government Spending (GER) (07:00)
Imports (GER) (07:00)
Exports (GER) (07:00)
Industrial New Orders (EU) (10:00)
Existing Home Sales (US) (15:00)
Richmond Fed Manufacturing Index (US) (15.00)
ABC Consumer Confidence (US) (22:00)
GMS
Imaginatik
ANNUAL REPORT
Aortech International
EGMS
OJSC Polyus Gold ADR
AGMS
Acorn Income Fund Ltd., ProVen Growth and Income VCT, ProVen VCT, ProVen VCT 'C' Shares, ProVen VCT 'D' Shares
TRADING ANNOUNCEMENTS
Persimmon
UK ECONOMIC ANNOUNCEMENTS
BBA Mortgage Lending Figures (09:30)
Wednesday August 25
INTERIMS
Admiral Group, Aggreko, Antofagasta, Ark Therapeutics, Arriva, Avengardco Investments GDR , Axis-Shield, Bank BPH GDR (Reg S), Chime Communications, Clarkson, Costain Group, FBD Holdings, Forth Ports, Glanbia, Johnston Press, Paddy Power, Pinewood-Shepperton, Serco Group, Severfield-Rowen, SIG, Talvivaara Mining Company, Tullow Oil, UK Coal, Vislink
INTERIM DIVIDEND PAYMENT DATE
Microgen
INTERIM EX-DIVIDEND DATE
BBA Aviation, Brewin Dolphin, Catlin Group, Delcam, Downing Distribution VCT 1, Eurasian Natural Resources, Fidessa, First Quantum Minerals, Henderson Opportunities Trust, InterContinental Hotels Group, London Capital Group, Maven Income and Growth VCT 4, Maven Income and Growth VCT 4 'S' Shares, Mondi, Morant Wright Japan Income Trust, Patsystems, Puma VCT I, Puma VCT II, Puma VCT III, Puma VCT IV, Rights & Issues Inv Trust Income Shares, ROK, SPARK VCT, SPARK VCT 2, United Business Media, Witan Inv Trust, Xaar
QUARTERLY PAYMENT DATE
M&G High Income & Growth Units, M&G High Income Inv Trust Income Shares
QUARTERLY EX-DIVIDEND DATE
Canaccord Financial Inc., Premier Energy & Water Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
IFO Business Climate (GER) (09:00)
IFO Current Assessment (GER) (09:00)
IFO Expectations (GER) (09:00)
MBA Mortgage Applications (US) (12:00)
Durable Goods Orders (US) (13:30)
New Homes Sales (US) (15:00)
House Price Index (US) (15:00)
Crude Oil Inventories (US) (15:30)
Job Seekers Net Change (FRA) (17.00)
Q2
Bank BPH GDR (Reg S), Talvivaara Mining Company
GMS
Crosby Asset Management
FINALS
BHP Billiton, Monitise
AGMS
Aberdeen New Dawn Inv Trust, Coral Products, Creightons, Goldman Sachs Dynamic Opportunities EUR Shares, Goldman Sachs Dynamic Opportunities GBP Shares, Goldman Sachs Dynamic Opportunities USD Shares, Infrastructure India, Latham (James), Livermore Investments, Park Plaza Hotels, Speymill Group, Ten Alps
FINAL DIVIDEND PAYMENT DATE
Halma
FINAL EX-DIVIDEND DATE
Downing Structured Opportunities VCT 1 'B' Shares, Intelek, Park Group, PHSC, Spice
Thursday August 26
INTERIMS
Amec, Asterand, Avis Europe, Biocompatibles International, Bloomsbury Publishing, Carillion, Chaucer Holdings, Chesnara, Churchill China, Communisis, CPP Group, Filtrona PLC, G4S, Henry Boot, Hikma Pharmaceuticals, Hunting, Huntsworth, IMI, International Public Partnerships Ltd., IP Group, Kazakhmys, Macfarlane Group, New World Resources, office2office, Petropavlovsk, Premier Oil, Public Power GDR (Reg S), Robert Walters, Salamander Energy, Savills, SEGRO, Signet Jewelers, Soco International, Sportech, STV Group, Unite Group, William Hill, X5 Retail Group GDR (Reg S)
INTERIM DIVIDEND PAYMENT DATE
Charter European Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Continuing Claims (US) (13:30)
GFK Consumer Confidence (GER) (07:00)
Initial Jobless Claims (US) (13:30)
M3 Money Supply (EU) (09:00)
GMS
DS Smith
FINALS
Diageo, Haynes Publishing Group, Impala Platinum
AGMS
Canisp, Phoenix IT Group, Plant Impact, Puma VCT I, Puma VCT II, Puma VCT III, Puma VCT IV
TRADING ANNOUNCEMENTS
Haynes Publishing Group
UK ECONOMIC ANNOUNCEMENTS
CBI Distributive Trends Surveys (11:00)
Friday August 27
INTERIMS
Aga Rangemaster Group, Aseana Properties Trust, Biome Technologies, Computacenter, Dana Petroleum, Davis Service Group, Frontline, Independent News & Media, JKX Oil & Gas, Lavendon Group, Marshalls, Molins, National Bank of Greece ADR, New Britain Palm Oil Limited, Phoenix Group Holdings, Rightmove, Stratic Energy Corporation, SVG Capital, T Clarke, Vimetco GDR (Reg S), Yule Catto
INTERIM DIVIDEND PAYMENT DATE
Bluehone AIM VCT 2, Brunner Inv Trust, Edinburgh UK Tracker Trust, Independent Inv Trust, Matrix European Real Estate Investment Trust Ltd., Reed Elsevier
QUARTERLY PAYMENT DATE
Equity Partnership Income Shares
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Jobless Rate (JPN)
Consumer Price Index (JPN)
Consumer Price Index (GER)
GDP (Preliminary) (US) (13:30)
U. of Michigan Confidence (US) (15:00)
Q2
National Bank of Greece ADR
GMS
600 Group, IPSO Ventures, Nautical Petroleum
ANNUAL REPORT
Abbey
IMSS
Rightmove
SPECIAL DIVIDEND PAYMENT DATE
Heritage Oil, Polo Resources
EGMS
EPE Special Opportunities, Equity Partnership Income Shares
AGMS
Prospect Japan Fund Ltd.
UK ECONOMIC ANNOUNCEMENTS
GDP (output, income & expenditure) (09:30)
Index of Services (09:30)
Total Business Investment (09:30)
Government Spending (09:30)
Imports and Exports (09:30)
FINAL DIVIDEND PAYMENT DATE
Aberdeen New Dawn Inv Trust, Heath (Samuel) & Sons, Kewill, Latham (James), Northern Foods, ProVen VCT
BHP Billiton brings out full-year figures on Wednesday that are likely to be overshadowed by the company's £26bn pursuit of fertiliser company Potash. The view among pundits seems to be somewhat contradictory; soeme have said that the Anglo-Australian mining giant's terms over value the Canadian company, yet the consensus is that BHP will probably have to raise its offer in order to persuade Potash shareholders to sell out.
Dana Petroleumissues interim figures on Friday, a week after South Korea's state-run oil company KNOC got fed up trying to negotiate an agreed bid for the Aberdeen-based oil company and went hostile with an £18 a share cash bid that values Dana at £1.87bn.
Whatever the figures are like, Dana's management is certain to be talking up the company's prospects and may give further views on why its impending purchase of a package of UK North Sea assets from Canada's Suncor for a minimum of £200m is a good thing.
Another Scottish oil company, Cairn Energy, has recently been involved in more amicable bid negotiations that led to it agreeing to sell off a controlling stake in Cairn India to Vedanta for $8.5bn.
The company releases figures on Tuesday, where it may outline more details on its programme in Greenland, which now becomes the main focus of the company's activities after the disposal of a large chunk of its stake in Cairn India.
Elsewhere in the oil sector, results from the support services companies are starting to flow after Wellstream got the ball rolling last week. AMEC and Wood Group are due to declare later in the week but Lamprell is first out of the traps on Monday.
As with Wellstream, the interim numbers from Lamprell are almost certainly going to be down on last year but there may be good news on the order book front.
"We expect the group to report net income of approximately $19.8m which compares to $31.6m a year earlier. We do not believe that the company will restore its interim dividend which was cut in 2009 on the back of the worsening operating environment. However, with the improving outlook we believe that the company might be tempted to pay a small dividend," said broker Panmure Gordon, which is bullish on the shares.
"The outlook is improving with the group winning three very significant orders in the year to date (two lift boats for Fred Olsen ($320m), one lift boat for Seajacks ($129m) and two jack-up rigs for NDC ($317m)). This should have allowed the company to increase its order book from $633m up to approximately $880m. This could have risen higher should the company have been awarded other orders and should the options on three further lift boats be taken up," the broker added.
Monday August 23
INTERIMS
Amlin, Bovis Homes Group, Hiscox, KazMunaiGaz GDR (Reg S), Kingspan Group, Lamprell, Lombard Medical Technologies, Petrofac Ltd., RCG Holdings
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Confidence Indicator (EU) (10:00)
Import Price Index (GER)
PMI Manufacturing Survey (FRA) (8.00)
PMI Service Sector Survey (FRA) (8.00)
PMI Manufacturing Survey (GER) (8.30)
PMI Service Sector Survey (GER) (8.30)
PMI Manufacturing Survey (EU) (09:00)
PMI Service Sector Survey (EU) (09:00)
Chicago Fed National Activity Index (US) (13.30)
Supermarket Sales (JPN)
AGMS
FFastFill, Iomart, Tata Tea GDS (Reg S)
TRADING ANNOUNCEMENTS
Punch Taverns
Tuesday August 24
INTERIMS
Aer Lingus Group, Cairn Energy, Corin Group, CRH, Development Securities, Gem Diamonds, H & T Group, John Wood Group, Jupiter Fund Management , OJSC Magnit GDR (Reg S), Oxford Biomedica, Persimmon, Plaza Centers, Promethean World, Source BioScience, Spectris, Spirax-Sarco Engineering, Vitec Group, WPP Group
INTERIM DIVIDEND PAYMENT DATE
Maven Income and Growth VCT 3
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Gross Domestic Product (GER) (7.00)
Private Consumption (GER) (07:00)
Government Spending (GER) (07:00)
Imports (GER) (07:00)
Exports (GER) (07:00)
Industrial New Orders (EU) (10:00)
Existing Home Sales (US) (15:00)
Richmond Fed Manufacturing Index (US) (15.00)
ABC Consumer Confidence (US) (22:00)
GMS
Imaginatik
ANNUAL REPORT
Aortech International
EGMS
OJSC Polyus Gold ADR
AGMS
Acorn Income Fund Ltd., ProVen Growth and Income VCT, ProVen VCT, ProVen VCT 'C' Shares, ProVen VCT 'D' Shares
TRADING ANNOUNCEMENTS
Persimmon
UK ECONOMIC ANNOUNCEMENTS
BBA Mortgage Lending Figures (09:30)
Wednesday August 25
INTERIMS
Admiral Group, Aggreko, Antofagasta, Ark Therapeutics, Arriva, Avengardco Investments GDR , Axis-Shield, Bank BPH GDR (Reg S), Chime Communications, Clarkson, Costain Group, FBD Holdings, Forth Ports, Glanbia, Johnston Press, Paddy Power, Pinewood-Shepperton, Serco Group, Severfield-Rowen, SIG, Talvivaara Mining Company, Tullow Oil, UK Coal, Vislink
INTERIM DIVIDEND PAYMENT DATE
Microgen
INTERIM EX-DIVIDEND DATE
BBA Aviation, Brewin Dolphin, Catlin Group, Delcam, Downing Distribution VCT 1, Eurasian Natural Resources, Fidessa, First Quantum Minerals, Henderson Opportunities Trust, InterContinental Hotels Group, London Capital Group, Maven Income and Growth VCT 4, Maven Income and Growth VCT 4 'S' Shares, Mondi, Morant Wright Japan Income Trust, Patsystems, Puma VCT I, Puma VCT II, Puma VCT III, Puma VCT IV, Rights & Issues Inv Trust Income Shares, ROK, SPARK VCT, SPARK VCT 2, United Business Media, Witan Inv Trust, Xaar
QUARTERLY PAYMENT DATE
M&G High Income & Growth Units, M&G High Income Inv Trust Income Shares
QUARTERLY EX-DIVIDEND DATE
Canaccord Financial Inc., Premier Energy & Water Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
IFO Business Climate (GER) (09:00)
IFO Current Assessment (GER) (09:00)
IFO Expectations (GER) (09:00)
MBA Mortgage Applications (US) (12:00)
Durable Goods Orders (US) (13:30)
New Homes Sales (US) (15:00)
House Price Index (US) (15:00)
Crude Oil Inventories (US) (15:30)
Job Seekers Net Change (FRA) (17.00)
Q2
Bank BPH GDR (Reg S), Talvivaara Mining Company
GMS
Crosby Asset Management
FINALS
BHP Billiton, Monitise
AGMS
Aberdeen New Dawn Inv Trust, Coral Products, Creightons, Goldman Sachs Dynamic Opportunities EUR Shares, Goldman Sachs Dynamic Opportunities GBP Shares, Goldman Sachs Dynamic Opportunities USD Shares, Infrastructure India, Latham (James), Livermore Investments, Park Plaza Hotels, Speymill Group, Ten Alps
FINAL DIVIDEND PAYMENT DATE
Halma
FINAL EX-DIVIDEND DATE
Downing Structured Opportunities VCT 1 'B' Shares, Intelek, Park Group, PHSC, Spice
Thursday August 26
INTERIMS
Amec, Asterand, Avis Europe, Biocompatibles International, Bloomsbury Publishing, Carillion, Chaucer Holdings, Chesnara, Churchill China, Communisis, CPP Group, Filtrona PLC, G4S, Henry Boot, Hikma Pharmaceuticals, Hunting, Huntsworth, IMI, International Public Partnerships Ltd., IP Group, Kazakhmys, Macfarlane Group, New World Resources, office2office, Petropavlovsk, Premier Oil, Public Power GDR (Reg S), Robert Walters, Salamander Energy, Savills, SEGRO, Signet Jewelers, Soco International, Sportech, STV Group, Unite Group, William Hill, X5 Retail Group GDR (Reg S)
INTERIM DIVIDEND PAYMENT DATE
Charter European Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Continuing Claims (US) (13:30)
GFK Consumer Confidence (GER) (07:00)
Initial Jobless Claims (US) (13:30)
M3 Money Supply (EU) (09:00)
GMS
DS Smith
FINALS
Diageo, Haynes Publishing Group, Impala Platinum
AGMS
Canisp, Phoenix IT Group, Plant Impact, Puma VCT I, Puma VCT II, Puma VCT III, Puma VCT IV
TRADING ANNOUNCEMENTS
Haynes Publishing Group
UK ECONOMIC ANNOUNCEMENTS
CBI Distributive Trends Surveys (11:00)
Friday August 27
INTERIMS
Aga Rangemaster Group, Aseana Properties Trust, Biome Technologies, Computacenter, Dana Petroleum, Davis Service Group, Frontline, Independent News & Media, JKX Oil & Gas, Lavendon Group, Marshalls, Molins, National Bank of Greece ADR, New Britain Palm Oil Limited, Phoenix Group Holdings, Rightmove, Stratic Energy Corporation, SVG Capital, T Clarke, Vimetco GDR (Reg S), Yule Catto
INTERIM DIVIDEND PAYMENT DATE
Bluehone AIM VCT 2, Brunner Inv Trust, Edinburgh UK Tracker Trust, Independent Inv Trust, Matrix European Real Estate Investment Trust Ltd., Reed Elsevier
QUARTERLY PAYMENT DATE
Equity Partnership Income Shares
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Jobless Rate (JPN)
Consumer Price Index (JPN)
Consumer Price Index (GER)
GDP (Preliminary) (US) (13:30)
U. of Michigan Confidence (US) (15:00)
Q2
National Bank of Greece ADR
GMS
600 Group, IPSO Ventures, Nautical Petroleum
ANNUAL REPORT
Abbey
IMSS
Rightmove
SPECIAL DIVIDEND PAYMENT DATE
Heritage Oil, Polo Resources
EGMS
EPE Special Opportunities, Equity Partnership Income Shares
AGMS
Prospect Japan Fund Ltd.
UK ECONOMIC ANNOUNCEMENTS
GDP (output, income & expenditure) (09:30)
Index of Services (09:30)
Total Business Investment (09:30)
Government Spending (09:30)
Imports and Exports (09:30)
FINAL DIVIDEND PAYMENT DATE
Aberdeen New Dawn Inv Trust, Heath (Samuel) & Sons, Kewill, Latham (James), Northern Foods, ProVen VCT
| Related share prices |
|---|
| BHP Billiton (BLT) share price |
| Cairn Energy (CNE) share price |
| Dana Petroleum (DNX) share price |
| Lamprell (LAM) share price |
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