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

17:13 Europe close: Stocks mixed after German business confidence, US services reports

European stocks were mixed following the release of better-than-estimated German business confidence data and a worse-than-forecast report on US services.

17:05 London close: UK stocks retreat from two-month high as Petrofac, miners fall

A wave of M&A news failed to give UK markets a boost on Monday as investors took profits after stocks hit their highest in two months the previous session.

17:02 GB Group finance director adds 24,000 shares after in-line results

The finance and operations director of GB Group has acquired 24,000 shares in the identity intelligence solutions firm following the release of an upbeat half-year report.

16:31 FTSE 250 movers: FirstGroup leads fallers as TalkTalk jumps

FirstGroup took a hit amid claims it has missed out on the opportunity to acquire the East Coast mainline. It seems the company’s bid will be overlooked in favour of Eurostar and Keolis when the government releases a statement on the final decision this week. FirstGroup has failed to win several prestigious franchises prior to this, including the Thameslink Great Northern service and the Essex Thameside operations.

16:26 FTSE 100 movers: Petrofac shares slide on profit warning

Petrofac's share price dropped by a quarter after the group scaled back its profit assumptions, saying that depressed oil prices and the timing of deliveries will result in a weaker bottom line. The company said net profits for 2014 will be at the lower end of the guided $580m-600m range, but would fall to just $500m in 2015. It had previously predicted "strong earnings growth" next year.

16:17 Synergies from Aviva-Friends Life deal could be 'substantial', says The Share Centre

The proposed tie-up between insurance groups Aviva and Friends Life Group could create "substantial synergies", according to The Share Centre, details of which still remain unknown.

16:02 Tuesday preview: US economic data in focus with GDP and consumer confidence

The market will on Tuesday have its eye on US data, including gross domestic product (GDP) and consumer confidence, to monitor the health of the world’s biggest economy.

16:01 US defence secretary Chuck Hagel to resign

Former Vietnam War veteran and US defense secretary Chuck Hagel is said to be stepping down amid a shift in US military strategy.

16:02 Bank of England may tighten capital rules for clearing houses

Financial institutions settling derivatives contracts may need to hold more capital to stop them requiring a government bailout if they fail.

15:53 Ryanair partners with Booking.com

Budget airline Ryanair announced a partnership with online hotel and accommodation website Booking.com.

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HIGHLIGHTS

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Weidmann says ECB can only help in short-term, Spain needs to do more

Whereas monetary policy can influence in the short-term, it cannot boost growth in a permanent fashion.

VIDEOS

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