Friday preview: Carnival, Keller, Public Sector Finances

17th Dec 2009 15:49

Having sailed through choppy conditions for much of the year cruise operator Carnival said third quarter revenues were more buoyant than anticipated, and responded by lifting full year 2009 earnings guidance to between $2.16 and $2.20 a share from a previous range of $2.00 to $2.10.Broker Charles Stanley thinks the company will hit the top end of the range when it announces full year figures on Friday, though earnings per share of $2.20 would still represent a fall from the $2.90 achieved last year.The slide in earnings can be attributed to a precipitous fall in ticket yields plus higher fuel costs. Performance in North America has been hit especially hard by the global recession with customers, unsettled by the employment picture, putting off bookings until the last minute - or not booking at all.In Europe, where the market is dominated more by those who have retired from work, the market has been a bit more resilient. Charles Stanley is predicting profit before tax of $1,765m, down from $2,377m last year, on revenue of $13,225m, down from $14,646m.Engineering firm Keller has the safety blanket of public infrastructure spending to offset a hard hit privately-financed construction market. The company is expected to confirm that it is on track to meet full year profit expectations. On the economic front, public sector finance data for the UK is due to be released. Net borrowing is tipped to have risen by £23bn in November. INTERIMSArtemis Alpha TrustINTERIM DIVIDEND PAYMENT DATEEstablishment Inv Trust, Ferrexpo, Foresight 4 VCT, Hansa Trust, Hansa Trust 'A' Shares, Investec, Montanaro UK Smaller Companies Investment Trust, Rensburg AIM VCT, Straight, Young & Co's Brewery 'A'QUARTERLY PAYMENT DATEM&G Equity Inv Trust Income SharesFINALSCarnival, Dawson Holdings, Throgmorton Trust, INTERNATIONAL ECONOMIC ANNOUNCEMENTSProducer Price Index (GER) (07:00)Business Confidence Indicator (FRA) (07:45)Production Outlook Indicator (FRA) (07:45)IFO Business Climate (GER) (09:00)IFO Current Assessment (GER) (09:00)IFO Expectations (GER) (09:00)Current Account (EU) (09:00)Trade Balance (EU) (10:00)EGMSGlobal MENA Financial Assets Ltd.AGMSAltona Energy, Cheerful Scout, JPMorgan Japanese Inv Trust, Keystone Inv Trust, Palmaris Capital, Sportingbet, Urals Energy Public Company, Victoria Oil & GasUK ECONOMIC ANNOUNCEMENTSPublic Sector Finances (09:30)Total Business Investment (09:30)FINAL DIVIDEND PAYMENT DATEAir Partner, Baqus, Charteris, Jarvis Securities, JPMorgan Chinese Inv Trust, JPMorgan Income & Growth Inv Trust Income Shares, JPMorgan Japanese Inv Trust, Lok'n Store Group, Mouchel Group, Standard Life Equity Income Trust, Trading Emissions, TristelTRADING ANNOUNCEMENTSAggreko, Keller Group