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Week ahead: M&S, British Land, BoE minutes

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Date: Friday 16 May 2008

LONDON (ShareCast) - Marks and Spencer is among the big names delivering full year results. JPM forecasts a 2% rise in pre-tax profits to £989m and expects the food and fashion retailer to say warmer weather early in May helped lift sales.

Real estate giant British Land also updates the market, the week after its peer Land securities reported a swing into pre-tax losses and a fall in its net asset value. British Land, whose portfolio includes shopping centres and offices, recently suffered a double downgrade to ‘underweight’ from ‘overweight’ at Morgan Stanley.

It was a close call when the Bank of England held rates at 5% early this month, but news that consumer price index inflation hit 3% in April may discourage further rate cuts. The market will seize on minutes from the rates meeting for more clues on the Monetary Policy Committee’s thinking.

Monday May 19

FTSE 250-listed home maintenance specialist Homeserve delivers final results. It said in March it expects profits before amortisation to be in line with expectations.

INTERIMS
2 Ergo Group, Care UK, ITE Group

INTERIM DIVIDEND PAYMENT DATE
Avingtrans, Gartmore Sml.Co

QUARTERLY PAYMENT DATE
British Land Co

FINALS
Big Yellow Group, BTG, Cranswick, Hansen Transmissions International, Homeserve, Mitie Group, PIK Group

AGMS
AG Barr, Amur Minerals, Dunedin Income Growth Inv Tst, Ethanol Investments, European Goldfields Limited, MirLand Development Corporation, Standard Life, Visonic, Wellstream Holdings, West China Cement

TRADING ANNOUNCEMENTS
Big Yellow Group

FINAL DIVIDEND PAYMENT DATE
Alliance & Leicester, Brit Insurance Holding, Ferrexpo, Guinness Peat Group, Invesco Perpetual UK Sm Cos, Legal & General Group, Petrofac Ld, Spirax-Sarco Engineering

Tuesday May 20

Marks and Spencer’s final results will be the main focus of the day as investors try to determine the state of the UK retail sector.

INTERIMS
Fountains, Innovation Group

QUARTERLY PAYMENT DATE
Caterpillar

FINALS
BlueStar SecuTech, British Land Co, Endace, Expro International Group, Marks and Spencer, OJSC Magnitogorsk Iron & Steel, RDF Media, Yell Group

EGMS
Regenersis

AGMS
Brammer, Cello Group, Entelos (Reg S), FishWorks, Foresight Technology VCT, Gaming VC Holdings, Herencia Resources, Macfarlane Group, Portmeirion, ProStrakan, Regus Group

FINAL DIVIDEND PAYMENT DATE
Aberdeen Growth VCT2, Brady, Chesnara, Glanbia, Holders Technology, KBC Advanced Technologies, Playtech, Prudential

Wednesday May 21

Investors will be looking out for the minutes from the Bank of England rates meeting earlier this month, to see how many of the Monetary Policy Committee were in favour of the decision to hold rates at 5%.

INTERIMS
Britvic, Intec Telecom, Optos, Paragon Group Of Companies

INTERIM EX-DIVIDEND DATE
Baronsmead VCT 2, Bellway, British Empire Sec & Gen Trust, Carluccio's, Diploma, Euromoney Institutional Investor, Freshwater UK, HSBC, JPMorgan Fleming Elect Managed Growth Shs, Lowland Investment Co, Smiths News, Southern Cross Healthcare Group, WH Smith

QUARTERLY EX-DIVIDEND DATE
Carnival, Prodesse

FINALS
Abbey Protection, EMI Group, Great Portland Estates

AGMS
888 Holdings, Allianz AG, ANT, China Food, Development Securities, Edinburgh US Tracker Trust, EMI Group, Energetix, French Connection, Garner, Gartmore Global Trust, Hellenic Carriers, Heritage Underwriting Agency, Matrix Income & Growth 4 VCT, Michael Page International, Peel Hotels, Plantic Technologies, Telit Communications, Tesco, Thirdforce, Vphase

UK ECONOMIC ANNOUNCEMENTS
BoE Interest Rate Minutes (09:30)
M4 Money Supply (estimate) (09:30)
M4 Sterling Lending (estimate) (09:30)
Public Sector Finances (09:30)

FINAL DIVIDEND PAYMENT DATE
ARM Holdings, Informa, Matrix Income & Growth 3 VCT, Matrix Income & Growth VCT, Mondi, Novae Group, Serco Group, Shore Capital, Tullow Oil

FINAL EX-DIVIDEND DATE
Amec, Axon Group, Bloomsbury Publishing, C&C Group, Cello Group, Cineworld Group, Clarkson, Cookson Group, Derwent London, Evolvence India, Home Retail Group, Inchcape, International Power, Macfarlane Group, Martin Currie Pacific Trust, Martin Currie Portfolio Trust, Pacific Assets, Pennant International, Sainsbury (J), Signet Group, Speymill Group, SQS Software Quality Systems, Stobart Group, Taylor Nelson Sofres, Taylor Wimpey, The Mission Marketing Group, Unilever, Visonic

Thursday May 22

Economic data vies with company news for investors’ attention for the second day in a row with the release of UK retail sales data.

INTERIMS
Chrysalis Group, Daily Mail and General Trust, Grainger, Invista European Real Estate Trust, Topps Tiles, Western & Oriental

INTERIM DIVIDEND PAYMENT DATE
Clinton Cards

QUARTERLY PAYMENT DATE
Investec High Income Trust

FINALS
Cable & Wireless, FFastFill, Mothercare, PayPoint, Vectura Group

AGMS
Autoclenz, Chaucer Holdings, Concurrent Technologies, Friends Provident, Goldman Sachs Dynamic Opportunities GBP, Hydro International, Indian Restaurants, John Menzies, John Wood Group, Judges Capital, Kakuzi, Libra Natural Resources, Prospect Japn, SPI Lasers, Staffline Recruitment, Stilo, Straight, Xchanging

UK ECONOMIC ANNOUNCEMENTS
Retail Sales (09:30)

FINAL DIVIDEND PAYMENT DATE
Candover Investments, Colliers CRE, Graphite Enterprise Trust, Henry Boot, New Star Asset Management Group, Peel Hotels, Property Recycling Group, Tullett Prebon, United Business Media, Zotefoams

QUARTERLY RESULTS
Frontline

Friday May 23

Pub group and brewer Marston’s last month said it was cautious about its outlook as margins for the six months to March will be hit by changes in the sales mix. The Pitcher and Piano owner’s interim results will shed further light.

INTERIMS
Future, ICAP, Marston's

INTERIM DIVIDEND PAYMENT DATE
Barratt Developments, James Halstead, Mcbride

EGMS
Proton Power Systems

AGMS
Aegis Group, Alpha Tiger Property Trust, Cairn Energy, F&C Private Equity Trust 'A' Shs, Intimas Group, Irish Life & Permanent, Metalrax Group, Moss Bros, Omega Insurance Holdings, Phosphagenics, Raymarine, Verona Pharma

UK ECONOMIC ANNOUNCEMENTS
GDP (output, income & expenditure) (09:30)

FINAL DIVIDEND PAYMENT DATE
Amiad Filtration Systems, BBA Aviation, BG Group, Bovis Homes Group, BPP Holdings, Catlin Group, Charter, Costain Group, Dillistone, DRS Data, Dunedin Income Growth Inv Tst, Edinburgh US Tracker Trust, Greggs, Hammerson, Hellenic Carriers, IMI, ING Global Real Estate Secs, Inmarsat, International Personal Finance, IS Solutions, Just Car Clinics Group, Kerry Group 'A' Shs, Norish, Paddy Power, Patsystems, Portmeirion, Rentokil Initial, SEGRO, TDG, Total, TT Electronics

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