Thursday preview: SABMiller, Experian, Halfords

J.W. | ShareCast | 15 Apr, 2009 17:48 - Updated: 07:10 | | |

Beer

Acquisitive brewing giant SABMiller will give a fourth-quarter trading update on Thursday in which it is expected to report beer volumes grew by around 1% on a like-for-like basis.

The company has been busy in Asia, mopping up the outstanding 50% stake in its Vietnamese joint venture and acquiring numerous Chinese breweries, and the company could give an indication of how the integration of these companies is proceeding.

Credit checking specialist Experian updates the market on its second half trading performance. The company saw organic revenue growth of 5% in the final three months of 2008 and will have done well to have maintained that sort of level in the first three months of 2009. Focus will be on the company’s debt levels, with Citigroup forecasting net debt of $2.13bn.

Bike and car components retailer Halfords is set to give a pre-close trading update for the year to 31 March, and broker KBC Peel Hunt is expecting the figures to provide a mildly pleasant surprise.

‘Given more recent High Street trends (which have been fairly stable) and the positive backdrop for Halfords’ key categories, we see scope for the underlying sales and profit performance to have been marginally ahead of our current forecast expectations,’ the broker said, noting that the retailer is one of the few retailers still trading on a single-digit price/earnings ratio.

The company’s Christmas trading was hit by a decline in the prices of satellite navigation devices, with the value of sales down by 7.8% on a like-for-like basis in the company’s third quarter. KBC expects the final quarter of the company’s financial year will have seen an improvement in trading, and is forecasting full-year sales will be down just 1.6% in total, or by 4.2% on a like-for-like basis.

QUARTERLY EX-DIVIDEND DATE

Caterpillar

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Building Permits (US) (13:30)

Housing Starts (US) (13:30)

Initial Jobless Claims (US) (13:30)

New Car Registrations (EU) (07:00)

Philadelphia Fed Index (US) (15:00)

EC CPI (10:00)

EC Core CPI (10:00)

EC Industrial Production (10:00)

Machine Tool Orders (JPN)

FINALS

Ideal Shopping Direct, Praesepe, The Mission Marketing Group, Walker Greenbank

AGMS

BP, Ceres Agriculture Fund, Forum Energy, Moneysupermarket.com, MW Tops Ltd Part Red Pref Shs GBP, MW TOPS Ltd Part Red Pref Shs USD, MW TOPS Ltd Red Part Pref Shs EUR

TRADING ANNOUNCEMENTS

Aggreko, Aveva Group, Eaga, Elementis, Halfords

UK ECONOMIC ANNOUNCEMENTS

BRC Sales Monitor (00:01)

QUARTERLIES

SABMiller, Ashmore Group, Experian

More news

14:14 Asia helps to offset European dampener for Heineken

A wet summer in Europe dampened third quarter sales at Dutch beer giant Heineken, which rebuffed a takeover bid from rival SABMiller last month, although it stuck to annual profit forecasts.

14:48 Market overview: Charles Stanley reiterates accumulate for Whitbread

1443: Shares of Whitbread are holding higher after analysts at Charles Stanley reiterated their recommendation to 'accumulate'. They tell clients that "longer term, we see significant potential for expansion of the Premier Inn and Costa businesses in both the UK and overseas." Grocers' shares are weak going into Tesco's interims tomorrow. Car insurers are doing best led by gains in Esure after premiums rose for the first time since 2012 according to AA data. .

14:03 Tesco most-bought UK share by TD Direct clients in three of past four weeks

13:58 FX round-up: Risk appettite picks up

Risk appetite was buoyed on Wednesday by speculation the ECB might move to expand the scope of its asset purchase programme to include corporate bonds. A slightly smaller than forecast slowdown in Chinese economic activity also propped up sentiment.

13:45 US pre-open: Futures flat after strong surge, consumer prices rise

US stock markets were set to open more or less flat on Wednesday after impressive gains registered the previous session, as investors sat on the fence after a mixed bag of corporate earnings.

13:39 Commodities: Copper and oil gain on Chinese data

Three-month copper futures on the LME gained 1.66% to $6,669 per metric tonne out on the LME following a smaller than expected slowdown in Chinese economic growth in the third quarter.

13:34 Eurotunnel Q3 revenues boosted by UK recovery, strong traffic

Channel Tunnel operator Groupe Eurotunnel saw a 7% increase in turnover in the third quarter, helped by a recovering UK economy and strong traffic figures.

13:31 US CPI remained unchanged in September

US consumer prices remained unchanged in September at a 1.7% year-on-year rate of change, according to the latest figures available from the Bureau of Labour Statistics.

13:15 Broker tips: GSK, BHP Billiton, International Personal Finance, Supergroup

Hargreaves Lansdown says the City may take a more charitable view of Glaxosmithkline shares after the drug group announced higher third-quarter earnings per share and a streamlining of its business.

13:13 Market may need to revisit Glaxo stance, says Hargreaves Lansdown

Hargreaves Lansdown says the City may take a more charitable view of Glaxosmithkline shares after the drug group announced higher third quarter earnings per share and a streamlining of its business.

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HIGHLIGHTS

MPC minutes emphasise lack of inflationary pressures

As anticipated , Carney maintained his majority of 7-2 in favour of steady policy.

VIDEOS

EUR/USD: continues its clearly bearish trend
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