Stock Market News
Week Ahead: Resolution, Xaar, Henderson
13-08-2010 12:24
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Next week is certainly looking quieter on the corporate front, although there's plenty of action on Wednesday and even some biggies to provide interest.
Insurance sector consolidator Resolution is one of them. It bought Friends Provident last year for £1.9bn and paid £2.75bn for the UK life business of French firm Axa in June.
A £2bn rights issue to fund the Axa deal has just been completed and, despite it still being early days, investors will be keen for an update on how integration is progressing when interim results are released midweek. There'll also be news on the old Friends business.
But despite a warm reaction to its latest acquisition, Charles Stanley analyst Nic Clark says shareholders seem to get "jittery" during the long periods of silence between deals. He rates the shares as no more than a 'hold'.
Fund manager Henderson also has its interims pencilled in for the 18th, and the boffins at Singer Capital Markets expect a profit of £51m, excluding £3m of fees racked up during the firm's failed attempt to buy RidgeWorth Capital Management. The company itself has already guided that profits will be between £47 to £49m after costs. Watch out for a drop in assets under management to £56bn from £60.3bn at the end of March, says Singer.
Further down the pecking order is Xaar. The printer ink technology specialist publishes half-year numbers Wednesday and Panmure Gordon wants to see £22.5m of revenues and profit before tax and amortisation of £1.7m.
The broker has high hopes for car dealer Lookers which reveals how it's done during the first six months of 2010 on the same day. Panmure has already upped its forecast for adjusted pre-tax profit by over £2m to £22.2m compared with £17.6m last year.
Monday August 16
INTERIMS
Atlas Estates, Espirito Santo, Michael Page International
INTERIM DIVIDEND PAYMENT DATE
IDOX
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Price Index (EU) (10:00)
Harmonised Index of Consumer Prices (EU) (10:00)
Empire State Manufacturing Survey (US) (13.30)
NAHB Housing Market Index (US) (15.00)
Tertiary Industry Index (JPN)
Gross Domestic Product (JPN)
EGMS
MW TOPS Ltd. EUR Shares, MW TOPS Ltd. GBP Shares, MW TOPS Ltd. USD Shares
FINAL DIVIDEND PAYMENT DATE
Empresaria Group, London Stock Exchange Group, Mountview Estate
Tuesday August 17
INTERIMS
EnQuest , Frutarom GDR (Reg S), Gartmore Group , London Capital Group, Melrose Resources, Oakley Capital Investments Ltd.
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Current Account (EU) (09:00)
ABC Consumer Confidence (US) (22:00)
Building Permits (US) (13:30)
Capacity Utilisation (US) (14:15)
Housing Starts (US) (13:30)
Industrial Production (US) (14:15)
Producer Price Index(US) (13:30)
RBA Interest Rate Minutes (AUS) (00:00)
ZEW Survey (EU) (10:00)
ZEW Survey (GER) (10:00)
Q2
Frutarom GDR (Reg S)
ANNUAL REPORT
Probability
AGMS
Castings, Egypt Trust
UK ECONOMIC ANNOUNCEMENTS
Consumer Price Index (09:30)
Retail Price Index (09:30)
FINAL DIVIDEND PAYMENT DATE
Elektron, Investec
Wednesday August 18
INTERIMS
Eurasian Natural Resources, Henderson Group, Lookers, MirLand Development Corporation, Primary Health Properties, Randall & Quilter Investment, Resolution, ROK, Xaar
INTERIM EX-DIVIDEND DATE
Anglo American, Baronsmead VCT 3, Baronsmead VCT 4, British American Tobacco, Dairy Farm International (Singapore), Fresnillo, Future, Hammerson, Hongkong Land Holding Ltd. (Singapore), Informa, Jardine Matheson (Singapore), Jardine Strategic (Singapore), Moneysupermarket.com, Morgan Sindall Group, Pearson, Prudential, Psion, Standard Life, Stanley Gibbons, Ultra Electronics Holdings
QUARTERLY EX-DIVIDEND DATE
Carnival, MedicX Fund Ltd.
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Crude Oil Inventories (US) (12:00)
MBA Mortgage Applications (US) (12:00)
Construction Output (EC) (10:00)
FINALS
Greenko Group
ANNUAL REPORT
IPPlus, Trifast
SPECIAL EX-DIVIDEND PAYMENT DATE
Polo Resources
EGMS
TR European Growth Trust
AGMS
AssetCo, City of London PR, Mulberry Group, PSG Solutions, Taliesin Property Fund
UK ECONOMIC ANNOUNCEMENTS
BoE Interest Rate Minutes (09:30)
FINAL DIVIDEND PAYMENT DATE
National Grid, Northern Foods, Speedy Hire
FINAL EX-DIVIDEND DATE
Ashtead Group, Atkins (WS), Cyril Sweett, ECO Animal Health Group, Gartmore Irish Growth, Immunodiagnostic Systems, John Swan, Latchways, Newmark Security PLC, NWF Group, PZ Cussons, Solid State
Thursday August 19
INTERIMS
AFI Development, Capital Drilling Ld, Cineworld Group, CLS Holdings, Hardy Oil & Gas, John Menzies, ProStrakan, PV Crystalox Solar, Quarto Group, TT Electronics, Wellstream Holdings
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Continuing Claims (US) (13:30)
Initial Jobless Claims (US) (13:30)
Leading Indicators (US) (15:00)
Philadelphia Fed Index (US) (15:00)
Producer Price Index (GER) (07:00)
Machine Tool Orders (JPN)
GMS
Microgen, Tarsus Group
IMSS
Chrysalis Group
EGMS
Datang Intl H, Quorum Oil and Gas Technology Fund Ltd.
AGMS
ING UK , Omega Diagnostics Group, Stagecoach Group
UK ECONOMIC ANNOUNCEMENTS
CBI Industrial Trends Surveys (11:00)
Leading Indicators (US)
M4 Money Supply (estimate) (09:30)
M4 Sterling Lending (estimate) (09:30)
Mortgage Approvals (09:30)
Public Sector Finances (09:30)
Retail Sales (09:30)
Friday August 20
INTERIM DIVIDEND PAYMENT DATE
Aberforth Geared Capital & Income Trust Income Shares, Domino Printing, Domino's Pizza UK & IRL, Imperial Tobacco Group, Japan Leisure Hotels, Sanderson Group
QUARTERLY PAYMENT DATE
Caterpillar, Merchants Trust
ANNUAL REPORT
NWF Group, Renishaw
EGMS
China Medical System Holdings Ltd.
AGMS
African Minerals Limited, Great Eastern Energy Corp. GDR, Heath (Samuel) & Sons, North American Banks Fund Ltd., Oryx International Growth Fund Ltd., ReneSola
FINAL DIVIDEND PAYMENT DATE
BlueStar SecuTech, Cambium Global Timberland Ltd., Castings, FirstGroup, Hornby, ICAP, Intermediate Capital Group, MDM Engineering Group, Mulberry Group, Sutton Harbour
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Convenience Store Sales (JPN)
Insurance sector consolidator Resolution is one of them. It bought Friends Provident last year for £1.9bn and paid £2.75bn for the UK life business of French firm Axa in June.
A £2bn rights issue to fund the Axa deal has just been completed and, despite it still being early days, investors will be keen for an update on how integration is progressing when interim results are released midweek. There'll also be news on the old Friends business.
But despite a warm reaction to its latest acquisition, Charles Stanley analyst Nic Clark says shareholders seem to get "jittery" during the long periods of silence between deals. He rates the shares as no more than a 'hold'.
Fund manager Henderson also has its interims pencilled in for the 18th, and the boffins at Singer Capital Markets expect a profit of £51m, excluding £3m of fees racked up during the firm's failed attempt to buy RidgeWorth Capital Management. The company itself has already guided that profits will be between £47 to £49m after costs. Watch out for a drop in assets under management to £56bn from £60.3bn at the end of March, says Singer.
Further down the pecking order is Xaar. The printer ink technology specialist publishes half-year numbers Wednesday and Panmure Gordon wants to see £22.5m of revenues and profit before tax and amortisation of £1.7m.
The broker has high hopes for car dealer Lookers which reveals how it's done during the first six months of 2010 on the same day. Panmure has already upped its forecast for adjusted pre-tax profit by over £2m to £22.2m compared with £17.6m last year.
Monday August 16
INTERIMS
Atlas Estates, Espirito Santo, Michael Page International
INTERIM DIVIDEND PAYMENT DATE
IDOX
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Price Index (EU) (10:00)
Harmonised Index of Consumer Prices (EU) (10:00)
Empire State Manufacturing Survey (US) (13.30)
NAHB Housing Market Index (US) (15.00)
Tertiary Industry Index (JPN)
Gross Domestic Product (JPN)
EGMS
MW TOPS Ltd. EUR Shares, MW TOPS Ltd. GBP Shares, MW TOPS Ltd. USD Shares
FINAL DIVIDEND PAYMENT DATE
Empresaria Group, London Stock Exchange Group, Mountview Estate
Tuesday August 17
INTERIMS
EnQuest , Frutarom GDR (Reg S), Gartmore Group , London Capital Group, Melrose Resources, Oakley Capital Investments Ltd.
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Current Account (EU) (09:00)
ABC Consumer Confidence (US) (22:00)
Building Permits (US) (13:30)
Capacity Utilisation (US) (14:15)
Housing Starts (US) (13:30)
Industrial Production (US) (14:15)
Producer Price Index(US) (13:30)
RBA Interest Rate Minutes (AUS) (00:00)
ZEW Survey (EU) (10:00)
ZEW Survey (GER) (10:00)
Q2
Frutarom GDR (Reg S)
ANNUAL REPORT
Probability
AGMS
Castings, Egypt Trust
UK ECONOMIC ANNOUNCEMENTS
Consumer Price Index (09:30)
Retail Price Index (09:30)
FINAL DIVIDEND PAYMENT DATE
Elektron, Investec
Wednesday August 18
INTERIMS
Eurasian Natural Resources, Henderson Group, Lookers, MirLand Development Corporation, Primary Health Properties, Randall & Quilter Investment, Resolution, ROK, Xaar
INTERIM EX-DIVIDEND DATE
Anglo American, Baronsmead VCT 3, Baronsmead VCT 4, British American Tobacco, Dairy Farm International (Singapore), Fresnillo, Future, Hammerson, Hongkong Land Holding Ltd. (Singapore), Informa, Jardine Matheson (Singapore), Jardine Strategic (Singapore), Moneysupermarket.com, Morgan Sindall Group, Pearson, Prudential, Psion, Standard Life, Stanley Gibbons, Ultra Electronics Holdings
QUARTERLY EX-DIVIDEND DATE
Carnival, MedicX Fund Ltd.
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Crude Oil Inventories (US) (12:00)
MBA Mortgage Applications (US) (12:00)
Construction Output (EC) (10:00)
FINALS
Greenko Group
ANNUAL REPORT
IPPlus, Trifast
SPECIAL EX-DIVIDEND PAYMENT DATE
Polo Resources
EGMS
TR European Growth Trust
AGMS
AssetCo, City of London PR, Mulberry Group, PSG Solutions, Taliesin Property Fund
UK ECONOMIC ANNOUNCEMENTS
BoE Interest Rate Minutes (09:30)
FINAL DIVIDEND PAYMENT DATE
National Grid, Northern Foods, Speedy Hire
FINAL EX-DIVIDEND DATE
Ashtead Group, Atkins (WS), Cyril Sweett, ECO Animal Health Group, Gartmore Irish Growth, Immunodiagnostic Systems, John Swan, Latchways, Newmark Security PLC, NWF Group, PZ Cussons, Solid State
Thursday August 19
INTERIMS
AFI Development, Capital Drilling Ld, Cineworld Group, CLS Holdings, Hardy Oil & Gas, John Menzies, ProStrakan, PV Crystalox Solar, Quarto Group, TT Electronics, Wellstream Holdings
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Continuing Claims (US) (13:30)
Initial Jobless Claims (US) (13:30)
Leading Indicators (US) (15:00)
Philadelphia Fed Index (US) (15:00)
Producer Price Index (GER) (07:00)
Machine Tool Orders (JPN)
GMS
Microgen, Tarsus Group
IMSS
Chrysalis Group
EGMS
Datang Intl H, Quorum Oil and Gas Technology Fund Ltd.
AGMS
ING UK , Omega Diagnostics Group, Stagecoach Group
UK ECONOMIC ANNOUNCEMENTS
CBI Industrial Trends Surveys (11:00)
Leading Indicators (US)
M4 Money Supply (estimate) (09:30)
M4 Sterling Lending (estimate) (09:30)
Mortgage Approvals (09:30)
Public Sector Finances (09:30)
Retail Sales (09:30)
Friday August 20
INTERIM DIVIDEND PAYMENT DATE
Aberforth Geared Capital & Income Trust Income Shares, Domino Printing, Domino's Pizza UK & IRL, Imperial Tobacco Group, Japan Leisure Hotels, Sanderson Group
QUARTERLY PAYMENT DATE
Caterpillar, Merchants Trust
ANNUAL REPORT
NWF Group, Renishaw
EGMS
China Medical System Holdings Ltd.
AGMS
African Minerals Limited, Great Eastern Energy Corp. GDR, Heath (Samuel) & Sons, North American Banks Fund Ltd., Oryx International Growth Fund Ltd., ReneSola
FINAL DIVIDEND PAYMENT DATE
BlueStar SecuTech, Cambium Global Timberland Ltd., Castings, FirstGroup, Hornby, ICAP, Intermediate Capital Group, MDM Engineering Group, Mulberry Group, Sutton Harbour
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Convenience Store Sales (JPN)
| Related share prices |
|---|
| Lookers (LOOK) share price |
| Xaar (XAR) share price |
| Henderson Group (HGG) share price |
| Resolution Ltd. (RSL) share price |
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