Stock Market News
Week ahead: Cyprus firmly in focus
22-03-2013 16:31
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At the beginning of next week investors will be concentrating on events in Cyprus. In particular, they will be watching to see whether, over the coming weekend, the country's parliament succeeded in approving the measures necessary to obtain rescue funds from the Troika of international lenders.
Failure to reach a solution "would trigger a collapse of the Cypriot banking system, plus contagion effects of an unknown scale elsewhere," wrote analysts at Investec.
Meantime, and in the US, the coming five days will see an intense flow of economic data. The most noteworthy of these will be the report on durable goods orders, on February, the Chicago NAPM survey on Thursday and the latest University of Michigan survey data on Friday.
Also to be had in account, US Federal Reserve Chairman Ben S.Bernanke is slated to speak on Monday evening, as are several other Fed policy-makers, on the following Wednesday.
In the Eurozone the most relevant indicator to be released is expected to be the money supply (M3) figures for the single currency area, on Thursday. On this point, economists at Credit Suisse say that they will be watching for any sign of deposit outflows in the aftermath of the elections in Italy.
Lastly, and back in the UK, a smattering of economic statistics are due for release, of which the Confederation of British Industry's (CBI) distributive trades survey, on Tuesday, will likely be the most relevant, along with consultancy GfK's consumer confidence gauge, Thursday.
The Daily Mail and General Trust will provide a trading update on Monday, followed by a broader investor briefing on the following day. ABC stats for the month of February indicate that the Daily Mail and Mail on Sunday saw smaller year-on-year declines in circulation rates versus peers. However, those of the latter did still fall by almost 10.0%, highlighting the challenges which the industry is up against.
Thus, Westhouse Securities emphasises how it does not expect digital revenue growth to outstrip declines in print advertising until fiscal year 2016 on its estimates, with the profitability of these operations pegged back by investment.
In its next trading update, due on Wednesday, TUI Travel will issue its first half pre-close trading update. Panmure Gordon expects a particularly strong performance in the UK, reflecting the on-going cold and wet weather.
The broker is forecasting £533m in EBITA for fiscal year 2013, broadly in line with consensus, rising to £581m next year.
Monday March 25
INTERIMS
Finsbury Food Group, Infrastrata, Savile Group
INTERIM DIVIDEND PAYMENT DATE
Heath (Samuel) & Sons, Inch Kenneth Kajang Rubber, Mountview Estate
FINALS
Globaltrans Investment GDR (Reg S), Michelmersh Brick Holdings, SpaceandPeople, Toumaz Limited
ANNUAL REPORT
Morgan Sindall Group, Talvivaara Mining Company (CDI), Tullow Oil
EGMS
Datang International Power Generation Co Ltd.
AGMS
Aukett Fitzroy Robinson Group, Horizonte Minerals, Temple Bar Inv Trust
TRADING ANNOUNCEMENTS
GB Group
UK ECONOMIC ANNOUNCEMENTS
BBA Mortgage Lending Figures (09:30)
Nationwide House Price Index (07:00)
Tuesday March 26
INTERIMS
Bellway, EpiStem Holdings, Wolseley
QUARTERLY EX-DIVIDEND DATE
Dow Chemical Co, Molex Inc., Molex Inc. 'A' Shares, Yamana Gold Inc.
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Confidence (US) (14:00)
Durable Goods Orders (US) (12:30)
New Homes Sales (US) (14:00)
Q3
Immofinanz AG
FINALS
Abbey Protection, Augean, Charlemagne Capital Ltd., Churchill China, Corac Group, Delcam, Faroe Petroleum, GVC Holdings, Hutchison China Meditech Ltd, JSC Halyk Bank GDR (Reg S), KBC Advanced Technologies, Kingfisher, Mission Marketing Group, office2office, Oxford Catalysts Group, Resolution Ltd., RTC Group, S & U, Synety Group, Vindon Healthcare
SPECIAL EX-DIVIDEND PAYMENT DATE
Hiscox Ltd.
AGMS
Domino's Pizza Group, Phytopharm, Pinnacle Technology Group
UK ECONOMIC ANNOUNCEMENTS
CBI Distributive Trends Surveys (11:00)
FINAL EX-DIVIDEND DATE
Hiscox Ltd., New Europe Property Investments
Wednesday March 27
INTERIMS
Proactis Holdings
INTERIM EX-DIVIDEND DATE
Abbey, Air Partner, British Sky Broadcasting Group, Mobeus Income & Growth 2 Vct, Photo-Me International, Smiths Group, Tristel, Ultimate Finance Group
QUARTERLY EX-DIVIDEND DATE
Africa Opportunity Fund Ltd., British Land Co, Mercantile Investment Trust (The), Schroder Income Growth Fund
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Business Climate Indicator (EU) (10:00)
Crude Oil Inventories (US) (14:30)
Economic Sentiment Indicator (EU) (10:00)
GFK Consumer Confidence (GER) (07:00)
MBA Mortgage Applications (US) (11:00)
Pending Homes Sales (US) (14:00)
Speech President Boston Fed (11:30)
Speech President Cleveland Fed (12;15)
Speech President Minneapolis Fed (13:00)
FINALS
ACTA S.P.A, Alpha Bank GDR (Reg S) USD, Biome Technologies, Henry Boot, IFG Group, Instem
ANNUAL REPORT
Capital & Counties Properties
SPECIAL EX-DIVIDEND PAYMENT DATE
DP World Limited, Impellam Group, Ortus VCT
AGMS
Amino Technologies, Beazley, Enables IT Group, Jupiter Second Split Trust Geared Gwth Shares, MCB Bank Ltd GDR (Reg S), Milestone Group, St. Modwen Properties, SVG Capital
UK ECONOMIC ANNOUNCEMENTS
Balance of Payments (09:30)
Current Account (09:30)
GDP (quarterly national accounts) (09:30)
GFK Consumer Confidence (00:01)
Index of Services (09:30)
BoE FPC Statement (09:30)
FINAL DIVIDEND PAYMENT DATE
Catco Reinsurance Opportunities Fund Ltd (DI)
FINAL EX-DIVIDEND DATE
Amino Technologies, Argo Group Ltd., Bovis Homes Group, Devro, DP World Limited, Driver Group, John Laing Infrastructure Fund Ltd, Miton Group, Motivcom, Nichols, Pennant International Group, PPHE Hotel Group Ltd, Prudential, Schroders, Wynnstay Group
Thursday March 28
INTERIMS
Earthport, James Halstead
INTERIM DIVIDEND PAYMENT DATE
BHP Billiton, Clinigen Group, Downing Absolute Income VCT 2, Downing Distribution VCT 1, Downing Income VCT 3, Downing Income VCT 3 E Shs, Hargreaves Services, Jupiter Primadona Growth Trust, Ruffer Investment Company Ltd Red PTG Pref Shares
QUARTERLY PAYMENT DATE
Anglogold Ashanti Ltd., BP, MedicX Fund Ltd., Premier Energy & Water Trust, Royal Dutch Shell 'A', Royal Dutch Shell 'B'
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Payments (GER) (07:00)
Bloomberg Consumer Confidence (US) (12:45)
Chicago PMI (US) (12:45)
Continuing Claims (US) (12:30)
GDP (Final) (US) (12:30)
Initial Jobless Claims (US) (12:30)
International Reserves (EU) (11:00)
M3 Money Supply (EU) (09:00)
PMI Retail (EU) (09:00)
PMI Retail (GER) (08:55)
Retail Sales (GER) (07:00)
Unemployment Rate (GER) (08:55)
GMS
Ceres Power Holdings, Zhaikmunai LP GDR (Reg S)
FINALS
Bilfinger Berger Global Infrastructure Sicav S.A.(DI), Chesnara, Hilton Food Group, Inditherm, Public Power GDR SA (Reg S), RCG Holdings Ltd, Signet Jewelers Ltd., Trap Oil Group
ANNUAL REPORT
Macfarlane Group, National Express Group, New Europe Property Investments
SPECIAL DIVIDEND PAYMENT DATE
Ferrexpo, Octopus Titan VCT 1, Octopus Titan VCT 2, Octopus Titan VCT 3
EGMS
Exillon Energy, Hiscox Ltd., Treatt
AGMS
Helius Energy, Independent Inv Trust, IRF European Finance Investments Ltd (DI), Lecico Egypt SAE GDR (Reg S), Pursuit Dynamics
TRADING ANNOUNCEMENTS
Electrocomponents, Tate & Lyle
FINAL DIVIDEND PAYMENT DATE
Hazel Renewable Energy VCT 1, Hazel Renewable Energy VCT 2, Henderson Opportunities Trust, SVM Global Fund, SWP Group, Temple Bar Inv Trust
Friday March 29
INTERIM DIVIDEND PAYMENT DATE
Cash Converters International Ltd, Tracsis
QUARTERLY PAYMENT DATE
Duet Real Estate Finance Ltd, Real Estate Credit Investments PCC Ltd
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Personal Income (US) (12:30)
Personal Spending (US) (12:30)
EGMS
Public Power GDR SA (Reg S)
AGMS
Turkiye is Bankasi A.S GDR C Shs (Reg S), United Bank Ltd GDR (Reg S)
FINAL DIVIDEND PAYMENT DATE
Rights & Issues Inv Trust Capital Shares, Rights & Issues Inv Trust Income Shares, Sanderson Group
Failure to reach a solution "would trigger a collapse of the Cypriot banking system, plus contagion effects of an unknown scale elsewhere," wrote analysts at Investec.
Meantime, and in the US, the coming five days will see an intense flow of economic data. The most noteworthy of these will be the report on durable goods orders, on February, the Chicago NAPM survey on Thursday and the latest University of Michigan survey data on Friday.
Also to be had in account, US Federal Reserve Chairman Ben S.Bernanke is slated to speak on Monday evening, as are several other Fed policy-makers, on the following Wednesday.
In the Eurozone the most relevant indicator to be released is expected to be the money supply (M3) figures for the single currency area, on Thursday. On this point, economists at Credit Suisse say that they will be watching for any sign of deposit outflows in the aftermath of the elections in Italy.
Lastly, and back in the UK, a smattering of economic statistics are due for release, of which the Confederation of British Industry's (CBI) distributive trades survey, on Tuesday, will likely be the most relevant, along with consultancy GfK's consumer confidence gauge, Thursday.
The Daily Mail and General Trust will provide a trading update on Monday, followed by a broader investor briefing on the following day. ABC stats for the month of February indicate that the Daily Mail and Mail on Sunday saw smaller year-on-year declines in circulation rates versus peers. However, those of the latter did still fall by almost 10.0%, highlighting the challenges which the industry is up against.
Thus, Westhouse Securities emphasises how it does not expect digital revenue growth to outstrip declines in print advertising until fiscal year 2016 on its estimates, with the profitability of these operations pegged back by investment.
In its next trading update, due on Wednesday, TUI Travel will issue its first half pre-close trading update. Panmure Gordon expects a particularly strong performance in the UK, reflecting the on-going cold and wet weather.
The broker is forecasting £533m in EBITA for fiscal year 2013, broadly in line with consensus, rising to £581m next year.
Monday March 25
INTERIMS
Finsbury Food Group, Infrastrata, Savile Group
INTERIM DIVIDEND PAYMENT DATE
Heath (Samuel) & Sons, Inch Kenneth Kajang Rubber, Mountview Estate
FINALS
Globaltrans Investment GDR (Reg S), Michelmersh Brick Holdings, SpaceandPeople, Toumaz Limited
ANNUAL REPORT
Morgan Sindall Group, Talvivaara Mining Company (CDI), Tullow Oil
EGMS
Datang International Power Generation Co Ltd.
AGMS
Aukett Fitzroy Robinson Group, Horizonte Minerals, Temple Bar Inv Trust
TRADING ANNOUNCEMENTS
GB Group
UK ECONOMIC ANNOUNCEMENTS
BBA Mortgage Lending Figures (09:30)
Nationwide House Price Index (07:00)
Tuesday March 26
INTERIMS
Bellway, EpiStem Holdings, Wolseley
QUARTERLY EX-DIVIDEND DATE
Dow Chemical Co, Molex Inc., Molex Inc. 'A' Shares, Yamana Gold Inc.
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Confidence (US) (14:00)
Durable Goods Orders (US) (12:30)
New Homes Sales (US) (14:00)
Q3
Immofinanz AG
FINALS
Abbey Protection, Augean, Charlemagne Capital Ltd., Churchill China, Corac Group, Delcam, Faroe Petroleum, GVC Holdings, Hutchison China Meditech Ltd, JSC Halyk Bank GDR (Reg S), KBC Advanced Technologies, Kingfisher, Mission Marketing Group, office2office, Oxford Catalysts Group, Resolution Ltd., RTC Group, S & U, Synety Group, Vindon Healthcare
SPECIAL EX-DIVIDEND PAYMENT DATE
Hiscox Ltd.
AGMS
Domino's Pizza Group, Phytopharm, Pinnacle Technology Group
UK ECONOMIC ANNOUNCEMENTS
CBI Distributive Trends Surveys (11:00)
FINAL EX-DIVIDEND DATE
Hiscox Ltd., New Europe Property Investments
Wednesday March 27
INTERIMS
Proactis Holdings
INTERIM EX-DIVIDEND DATE
Abbey, Air Partner, British Sky Broadcasting Group, Mobeus Income & Growth 2 Vct, Photo-Me International, Smiths Group, Tristel, Ultimate Finance Group
QUARTERLY EX-DIVIDEND DATE
Africa Opportunity Fund Ltd., British Land Co, Mercantile Investment Trust (The), Schroder Income Growth Fund
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Business Climate Indicator (EU) (10:00)
Crude Oil Inventories (US) (14:30)
Economic Sentiment Indicator (EU) (10:00)
GFK Consumer Confidence (GER) (07:00)
MBA Mortgage Applications (US) (11:00)
Pending Homes Sales (US) (14:00)
Speech President Boston Fed (11:30)
Speech President Cleveland Fed (12;15)
Speech President Minneapolis Fed (13:00)
FINALS
ACTA S.P.A, Alpha Bank GDR (Reg S) USD, Biome Technologies, Henry Boot, IFG Group, Instem
ANNUAL REPORT
Capital & Counties Properties
SPECIAL EX-DIVIDEND PAYMENT DATE
DP World Limited, Impellam Group, Ortus VCT
AGMS
Amino Technologies, Beazley, Enables IT Group, Jupiter Second Split Trust Geared Gwth Shares, MCB Bank Ltd GDR (Reg S), Milestone Group, St. Modwen Properties, SVG Capital
UK ECONOMIC ANNOUNCEMENTS
Balance of Payments (09:30)
Current Account (09:30)
GDP (quarterly national accounts) (09:30)
GFK Consumer Confidence (00:01)
Index of Services (09:30)
BoE FPC Statement (09:30)
FINAL DIVIDEND PAYMENT DATE
Catco Reinsurance Opportunities Fund Ltd (DI)
FINAL EX-DIVIDEND DATE
Amino Technologies, Argo Group Ltd., Bovis Homes Group, Devro, DP World Limited, Driver Group, John Laing Infrastructure Fund Ltd, Miton Group, Motivcom, Nichols, Pennant International Group, PPHE Hotel Group Ltd, Prudential, Schroders, Wynnstay Group
Thursday March 28
INTERIMS
Earthport, James Halstead
INTERIM DIVIDEND PAYMENT DATE
BHP Billiton, Clinigen Group, Downing Absolute Income VCT 2, Downing Distribution VCT 1, Downing Income VCT 3, Downing Income VCT 3 E Shs, Hargreaves Services, Jupiter Primadona Growth Trust, Ruffer Investment Company Ltd Red PTG Pref Shares
QUARTERLY PAYMENT DATE
Anglogold Ashanti Ltd., BP, MedicX Fund Ltd., Premier Energy & Water Trust, Royal Dutch Shell 'A', Royal Dutch Shell 'B'
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Payments (GER) (07:00)
Bloomberg Consumer Confidence (US) (12:45)
Chicago PMI (US) (12:45)
Continuing Claims (US) (12:30)
GDP (Final) (US) (12:30)
Initial Jobless Claims (US) (12:30)
International Reserves (EU) (11:00)
M3 Money Supply (EU) (09:00)
PMI Retail (EU) (09:00)
PMI Retail (GER) (08:55)
Retail Sales (GER) (07:00)
Unemployment Rate (GER) (08:55)
GMS
Ceres Power Holdings, Zhaikmunai LP GDR (Reg S)
FINALS
Bilfinger Berger Global Infrastructure Sicav S.A.(DI), Chesnara, Hilton Food Group, Inditherm, Public Power GDR SA (Reg S), RCG Holdings Ltd, Signet Jewelers Ltd., Trap Oil Group
ANNUAL REPORT
Macfarlane Group, National Express Group, New Europe Property Investments
SPECIAL DIVIDEND PAYMENT DATE
Ferrexpo, Octopus Titan VCT 1, Octopus Titan VCT 2, Octopus Titan VCT 3
EGMS
Exillon Energy, Hiscox Ltd., Treatt
AGMS
Helius Energy, Independent Inv Trust, IRF European Finance Investments Ltd (DI), Lecico Egypt SAE GDR (Reg S), Pursuit Dynamics
TRADING ANNOUNCEMENTS
Electrocomponents, Tate & Lyle
FINAL DIVIDEND PAYMENT DATE
Hazel Renewable Energy VCT 1, Hazel Renewable Energy VCT 2, Henderson Opportunities Trust, SVM Global Fund, SWP Group, Temple Bar Inv Trust
Friday March 29
INTERIM DIVIDEND PAYMENT DATE
Cash Converters International Ltd, Tracsis
QUARTERLY PAYMENT DATE
Duet Real Estate Finance Ltd, Real Estate Credit Investments PCC Ltd
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Personal Income (US) (12:30)
Personal Spending (US) (12:30)
EGMS
Public Power GDR SA (Reg S)
AGMS
Turkiye is Bankasi A.S GDR C Shs (Reg S), United Bank Ltd GDR (Reg S)
FINAL DIVIDEND PAYMENT DATE
Rights & Issues Inv Trust Capital Shares, Rights & Issues Inv Trust Income Shares, Sanderson Group
| Related share prices |
|---|
| Daily Mail and General Trust A (Non.V) (DMGT) share price |
| TUI Travel (TT.) share price |
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