Wednesday preview: French unit may save Kesa

11th May 2010 15:59

Kesa Electricals is expected to have done well enough at its larger French operations to offset anticipated weakness at its Comet retail chain during the final months of its financial year, experts think.Analysts at Singer Capital Markets predicts a 3-4% decline in like for like sales during the final 16 weeks of the financial year given a weak backdrop and tougher conditions. In the event of a 3% Comet sales shortfall versus forecast (worth about £3m profit), Darty would need to deliver a 2% beat (+3% LFL). "This level of improvement cannot be ruled out"."We also believe that Spain could surprise on the upside and provide further mitigation to a potentially weak UK performance," it said.Housebuilder Barratt Developments will also update midweek. Panmure Gordon expects the group to report stability in trading during 2010 to date, although average selling prices should have improved as a function of mix. It continues to believe that Barratt will complete 11,500 homes for the year to June 2010, with progress in average selling prices, and maintains full-year forecasts for a loss of £38.5m.Jobs data out at 9.30 should reveal claimant count unemployment fell by between 15,000 and 20,000 in April following a drop of 32,900 the month before. The unemployment rate is seen steady at 4.8%.Elsewhere on the companies front, analysts reckon technology firm Dimension Data will report revenue of $2.2bn.On the ILO measure, look for a 33,000 rise in the number out of work to 2.49m and a jobless rate unchanged at 8%."The mixed latest data suggests to us that it is premature to call the all-clear on the jobs front, despite recently improved economic activity and the overall resilience of the labour market through the economy's travails," says Howard Archer, chief UK economist at IHS Global Insight.Wednesday May 12INTERIMSCompass Group, Dimension Data Holdings, OMGINTERIM EX-DIVIDEND DATEAberdeen Asset Management, Narborough Plant, Puma VCT III, Puma VCT IV, Sage Group, Smart (J) & Co., Smiths NewsQUARTERLY EX-DIVIDEND DATEBarclaysINTERNATIONAL ECONOMIC ANNOUNCEMENTSBalance of Trade (US) (13:30)Crude Oil Inventories (US) (15:30)GDP (Flash Estimate) (EU) (10:00)Gross Domestic Product (GER) (07:00)Industrial Production (EU) (10:00)MBA Mortgage Applications (US) (12:00)New Home Sales (AUS) (00:00)Treasury Budget Statement (US) (19:00)GMSEuropean Goldfields Limited, Hertford International, Victoria Oil & GasFINALSFirstGroup, Strategic Thought Group, Vertu MotorsIMSSBarratt Developments, Beazley Group, Chime Communications, Greggs, John Wood Group, Premier Foods, Prodesse Investment Ltd., Tullow OilSPECIAL EX-DIVIDEND PAYMENT DATEBlackRock Smaller Companies Trust, Narborough PlantEGMSMcInerney Holdings, STV GroupAGMSArbuthnot Banking Group, Aurelian Oil & Gas, Balfour Beatty, BG Group, British Smaller Technology Companies VCT 2, Chime Communications, Cineworld Group, Clarkson, Dialight, European Goldfields Limited, Flying Brands, Frenkel Topping, Futura Medical, Goldenport, Goldenport, Greggs, Hellenic Carriers, Indochina Capital Vietnam Holding (DI), International Personal Finance, John Wood Group, KBC Advanced Technologies, Marshalls, Matrix Income & Growth 3 VCT, Matrix Income & Growth VCT, McInerney Holdings, Mithras Inv Trust, Pittards, Skyepharma, TT Electronics, Tullow Oil, Ukraine Opportunity Trust, Weir Group, Wellstream HoldingsTRADING ANNOUNCEMENTSMicro Focus International PlcUK ECONOMIC ANNOUNCEMENTSBoE Inflation Report (09:30)Claimant Count Rate (09:30)Unemployment Rate (09:30)FINAL DIVIDEND PAYMENT DATEDairy Farm International (Singapore), Hongkong Land Holding Ltd. (Singapore), Jardine Matheson (Singapore), Jardine Strategic (Singapore), Smith & NephewFINAL EX-DIVIDEND DATE888 Holdings, BlackRock Smaller Companies Trust, Downing Protected VCT IX, Downing Protected VCT VIII, Fresnillo, Irish Continental Group Units, Lamprell, Macfarlane Group, Matrix Income & Growth 4 VCT, Mount Engineering, Nestor Healthcare, Old Mutual, ProVen Health VCT, Provident Financial, Puma VCT V, PV Crystalox Solar, Rightmove, S & U, SPARK VCT, STM Group, Ted Baker, WhitbreadQ1Aegon , Bank BPH GDR (Reg S), Bank Pekao GDS (Reg S), Grupo Clarin S.A. GDR (Reg S), Ote ADS