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Date: Tuesday 07 Oct 2008

LONDON (ShareCast) - Sainsbury’s update on trading in the 16 weeks to 4 October coincides nicely with the release of the Nationwide’s Consumer Confidence Index for September. Both should reveal much about the British consumer's state of mind.

The Nationwide survey is expected to add to the case for an interest rate cut on Thursday with the index expected to be at its lowest level since the survey’s inception in May 2004.

The Sainsbury update will give clues to how many consumers are trading down to the deep discounters such as Aldi and Lidl.

US bank JP Morgan is looking for like-for-like sales growth, excluding fuel, of around 4.7%, compared with 3.7% for Tesco. Citicorp and Panmure Gordon both go for a more modest improvement of between 3.5% and 4%.

The company has indicated it expects a 1% boost to sales from new space, prompting JP Morgan to forecast overall sales growth of 5.7%, excluding fuel.

While on the face of it these figures look healthy enough and are an improvement on the second quarter, the third quarter offers easier comparative figures from 2007.


INTERIMS
Rugby Estates

INTERIM DIVIDEND PAYMENT DATE
Drax Group, KBC Advanced Technologies, Millennium & Copthorne Hotels, Rathbone Brothers, Smallbone

INTERIM EX-DIVIDEND DATE
888 Holdings, Adventis Group, AsianLogic, Atlantic Global, Brammer, Catlin Group, Cello Group, Cenkos Securities, Charles Taylor, China Medical System Holdings, Dealogic, Dowgate Capital, Fayrewood, Fisher (James) & Sons, Forth Ports, Gaming VC Holdings, Gartmore Global Trust, Getmobile Europe, Harvey Nash Group, Hydrogen Group, IS Solutions, Keller Group, Kingfisher, Laird, Lamprell, Lupus Capital, M&C Saatchi, Matrix Income & Growth 4 VCT, Morrison (Wm) Supermarkets, Northbridge Industrial Services, office2office, Pennant International, Pinewood-Shepperton, Rexam, S & U, Spirax-Sarco Engineering, Tesco, Tomkins, Weir Group, WPP Group, Yule Catto

QUARTERLY EX-DIVIDEND DATE
Merchants Trust

AGMS
Bezant Resources

UK ECONOMIC ANNOUNCEMENTS
BRC Shop Price Index (10:30), M4 Money Supply (estimate) (09:30) , M4 Sterling Lending (estimate) (09:30) , Nationwide Consumer Confidence Index

FINAL DIVIDEND PAYMENT DATE
Drax Group

FINAL EX-DIVIDEND DATE
Avingtrans, Close Brothers Group, Daejan Holdings, Eclectic Investment Trust, Goodwin, Just Retirement, Pacific Horizon Trust, TR European Growth Trust, Wilmington Group

TRADING STATEMENTS
Speedyhire, Sainsbury

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