Week Ahead: Astra, Sage, Britvic, US rate decision

21st Jan 2011 09:15

The spate of trading updates from retailers has almost dried up, leaving the field open to heavyweights from other sectors. Two of the big names from the utilities sector, United Utilities and Severn Trent, are due to report while from the oil sector Tullow and Cairn report late in the week.Accountancy software group Sage issues its first quarter interim management statement on Wednesday. Panmure Gordon thinks it will be a "steady as she goes" announcement. "The company should make a comment on its financial position, (i.e. the pay down of net debt) and CEO Guy Berruyer is likely to say that Sage continues to perform despite the difficult markets etc. Given that there have been a number of departures amongst the US leadership team Sage might comment on that division, otherwise the event should pass without much of a ripple," the broker predicts.Soft drinks firm Britvic will do well to report first quarter revenue growth for its core British and Irish operations given the tough comparatives it faces from the preceding year.Nomura notes that a year ago it reported year on year growth of 15% in the first quarter, but the comparatives get less demanding from the second quarter onwards."We see the momentum picking up in Q2 as the comp gets easier (+3%). We still see underlying revenue growth of 5% pa achievable in the GB and French operations, both in 2011 and the medium term. Ireland remains more challenging, but profitability here should be underpinned by further restructuring," the Japanese broker said.Drugs giant AstraZeneca reports fourth quarter and full year results on Thursday. Consensus forecasts are for full year pre-tax profits of £7.48bn on sales of $20.96bn. "In the face of a looming off-patent cliff attention is likely to focus, initially at least, on confirmation of an enhanced share buy-back programme," reckons broker Charles Stanley. "AstraZeneca has maintained a tight control on both costs and working capital and depite the substantial acquisition of Medimmune, has returned its balance sheet to a position of net cash. This net cash, coupled with a good track record of returning excess funds to shareholders we strongly suspect that the existing share buy-back programme will be accelerated," the broker predicted.On the economic front, the US Federal Reserve announces its interest rate decision on Wednesday, the same day that the minutes from the most recent meeting of the Bank of England's Monetary Policy Committee are released.Monday January 24INTERIM DIVIDEND PAYMENT DATEHalfords GroupGMSCayenne TrustANNUAL REPORTOptosEGMSDiamond Circle CapitalINTERNATIONAL ECONOMIC ANNOUNCEMENTSPMI Manufacturing Survey (FRA) (08:00)PMI Service Sector Survey (FRA) (08:00)PMI Service Sector Survey (GER) (08:30)PMI Manufacturing Survey (GER) (08:30)PMI Manufacturing Survey (EU) (09:00)PMI Service Sector Survey (EU) (09:00)PMI Composite Index (EU) (09:00)Industrial New Orders (EU) (10:00)Tuesday January 25INTERIMSAshley House, City of London Investment Group, Games Workshop Group, Mattioli Woods, Misys, PZ Cussons, ZetarQUARTERLY PAYMENT DATEMolex Inc.INTERNATIONAL ECONOMIC ANNOUNCEMENTSBank of Japan MPC Target Rate (JPN)GfK Consumer Confidence Survery (GER) (07:00)Consumer Spending (FRA) (07:45)ABC Consumer Confidence (US) (15:00)Richmond Fed Manufacturing Index (15:00)FINALSPorvairIMSSBabcock International Group, Severn TrentEGMSTurk Ekonomi GDR Bankasi AS GDR (Reg S), XXI Century Investments Public Ltd.AGMSAlternative Networks, Next Fifteen Communications, Scottish Oriental Smaller Companies Trust, Siemens AG, Standard Life European Private Equity TrustUK ECONOMIC ANNOUNCEMENTSGDP (Preliminary) (09:30)Index of Services (09:30)Public Sector Finances (09:30)Wednesday January 26INTERIMSRenishaw, System C HealthcareINTERIM DIVIDEND PAYMENT DATELatham (James)INTERIM EX-DIVIDEND DATEAnite, DS Smith, Fletcher King, Foresight 3 VCT, Foresight 4 VCT, IG Group Holdings, Income & Growth VCT , NCC Group, Scottish & Southern EnergyQUARTERLY EX-DIVIDEND DATEEquity Partnership Inv Co Income SharesINTERNATIONAL ECONOMIC ANNOUNCEMENTSSmall Business Confidence Jobseekers - net change (FRA) (17:00)Total Jobless (FRA) (17:00)Crude Oil Inventories (US) (15:30)New Homes Sales (US) (15:00)FOMC Rate Decision (19:15)GMSSchroder UK Mid & Small Cap Fund, ValiRxFINALSWynnstay GroupIMSSBrewin Dolphin Holdings, Sage Group, United Utilities GroupEGMSCapital Shopping Centres GroupAGMSInvesco Leveraged High Yield Fund Ltd., Vision Opportunity China Fund Ltd., WH SmithTRADING ANNOUNCEMENTSCookson Group, Sage Group, WH SmithUK ECONOMIC ANNOUNCEMENTSBoE Interest Rate Minutes (09:30)FINAL DIVIDEND PAYMENT DATEMajedie InvestmentsFINAL EX-DIVIDEND DATEBritish Portfolio Trust, Compass Group, Renew Holdings, Shaftesbury, TreattThursday January 27INTERIMSBritish Sky Broadcasting Group, CPL Resources, EagaINTERIM DIVIDEND PAYMENT DATEBrulines Group, Cable & Wireless Worldwide, Dairy Crest Group, Solid State, United Carpets GroupINTERNATIONAL ECONOMIC ANNOUNCEMENTSOverall Household Spending (JPN)Jobless Rate (JPN)Consumer Prices Index (JPN)Retail Sales (JPN)Consumer Confidence Confidence Indicator (FRA) (07:45)Business Climate Indicator (EU) (10:00)Consumer Confidence (EU) (10:00)Economic Confidence (EU) (10:00)Industrial Confidence (EU) (10:00)Service Sector Confidence (EU) (10:00)Continuing Claims (US) (13:30)Initial Jobless Claims (US) (13:30)Chicago Fed National Activity Index (US) (13:30)Durable Goods Orders (US) (13:30)Pending Homes Sales (US) (15:00)Q3Vedanta ResourcesQ4AstraZenecaFINALSAstraZenecaIMSSHansen Transmissions International NV (DI), Mitchells & ButlersEGMSRGI International Ltd., Talvivaara Mining CompanyAGMSBritvic, Dewhurst, Intandem Films, ITE Group, Lonmin, Mitchells & Butlers, WichfordTRADING ANNOUNCEMENTSBritvic, Cairn Energy, Tullow OilUK ECONOMIC ANNOUNCEMENTSHometrack Housing Survey (00:01)CBI Distributive Trades Surveys (11:00)FINAL DIVIDEND PAYMENT DATEAberdeen Asset Management, Alternative NetworksFriday January 28INTERIM DIVIDEND PAYMENT DATEAtkins (WS), Burberry Group, Dart Group, Ensor Holdings, F.T.S-Formula Telecom Solutions Ltd, Falkland Islands Holdings, Greene King, Hornby, IFG Group, Micro Focus International Plc, Northern Foods, Northumbrian Water Group, RPC Group, Speedy Hire, Vertu MotorsQUARTERLY PAYMENT DATEDow Chemical Co, F&C Commercial Property Trust Ltd.INTERNATIONAL ECONOMIC ANNOUNCEMENTSPMI Retail (GER) (08:55)PMI Retail (EU) (09:00)M3 Money Supply (EU) (09:00)GDP (Advance) (US) (13:30)Employment Cost Index (US) (13:30)Personal Consumption (US) (13:30)University of Michigan Consumer Confidence (US) (14:55)Q4Samsung Electronics Co Ltd. GDR (Reg S)GMSClyde Process SolutionsEGMSWestmount Energy Ltd.AGMSCaledonian Trust, JPMorgan Indian Inv Trust, Marston's, Ultrasis, XCAP SecuritiesTRADING ANNOUNCEMENTSKCOM GroupUK ECONOMIC ANNOUNCEMENTSGFK Consumer Confidence (00:01)FINAL DIVIDEND PAYMENT DATEAlbemarle & Bond Holdings, ATH Resources, Character Group, Education Development International, Proactis Holdings, Scottish Oriental Smaller Companies Trust, Standard Life European Private Equity Trust