The week ahead (23/01 - 27/01/2012)
A relatively quiet start to the corporate reporting week sees the stage clear for Cairn Energy on Monday.
The oil production and exploration giant has been much discussed this month as it is rumoured to be in pole position to buy Rockhopper Exploration in an attempt to muscle into the Falklands action. In recent days, Cairn appeared to be making progress towards finding a partner for its Greenland exploration prospect. The company is under pressure to abandon the region altogether following several dusters there.
Also of interest, the Financial Times recently cited 'analysts' as cautioning that Cairn's plan to return cash to shareholders may lead to selling by tracker funds and passive investors. So much so that it is thought likely that the company will lose its place in the FTSE 100 at a March index review for that reason.
On Tuesday, the minutes from the January meeting of the Bank of England's Monetary Policy Committee will be released for scrunity of the balance between the hawks and doves.
And just when you thought the Christmas reporting flurry was over, the new week brings renewed retail focus as WH Smith steps up on Wednesday.
In its November update WH Smith said sales in the first 10 weeks of its financial year were down 3 per cent, with like-for-like sales down 6 per cent compared to the same period last year. Sales at the all-important WH Smith Travel were down 4 per cent year-on-year on a like-for-like basis, but the decline may have been arrested in December, given that in the corresponding month of 2010, sales would have been affected by the adverse weather conditions.
Engineering information technology company Aveva issues an interim management statement on Friday which is likely to attract more attention than usual given the recent profit warning from sector peer Invensys.
Monday 23 January
Trading updates
Cairn, Dragon Oil, Optos
Interim results
City of London Investment Group
AGMs
Alternative Networks, Avacta Group, John Lewis
Tuesday 24 January
Trading updates
Aquarius Platinum, Babcock International, Carphone Warehouse, International Ferro Metals, Land Securities, Playtech, Sage Group
Interim results
PZ Cussons, Zetar
Final results
Chemring Group
AGMs
Evocutis, Redefine International
Economics
Public sector borrowing data
Wednesday 25 January
Interim results
Ebiquity, Renishaw
Trading statements
Britvic, BTG, WH Smith
AGMs
Artisan, Britvic, GW Pharmaceuticals, WH Smith
Economics
Bank of England MPC minutes, British Bankers Association loans for house purchases data, fourth quarter GDP figures, Index of services, Confederation of British Industry data for trends for total orders, selling prices and business optimism.
Thursday 26 January
Interim results
Haynes Publishing, Misys, Angle
Final results
Safestore Holdings, Gem Diamonds
Trading statements
Anglo American, Anglo Platinum, Covidien, easyJet, Invensys, Kazakhmys, Mitchells & Butlers, Sage Group, London Stock Exchange Group
AGMs
Euromoney Institutional Investor, Impax Asset Management, ITE, Lonmin, Mitchells & Butlers, Ultrasis
Economics
Confederation of British Industry reported sales data
Friday 27 January
Trading statements
Marston's, Petropavlovsk
AGMs
Marston's, Smiths News
This was written for our sister website, Interactive Investor
Related content
Sign up for the latest personal finance and investment news delivered every Monday and Thursday. You can also receive a FREE copy of Money Observer magazine.


Comments
Post new comment