Friday preview: Bovis Homes, UK Producer Prices

9th Jul 2009 15:36

Friday sees Bovis Homes updating the market, hot on the heels of Barratt Developments and Redrow on Thursday and Persimmon earlier in the week. The once heavily indebted company expects to be ungeared by the end of the year which would leave it well placed to snap up land at rock bottom prices. Before then, however, the company has to negotiate the still mostly moribund new housing market in the UK.In the first 17 weeks of trading in 2009 the group had achieved 638 private reservations, some 71% ahead of the comparable position in 2008 of 373 private reservations, though observers noted that Bovis was very slow to cut prices in 2008 so sales that year were unnaturally depressed.On the economic front, UK Producer Prices for June are due out at 9:30am. The input prices index is expected to show a 12.1% year-on-year decline, after May's 9.4% annual fall. The output prices index is slated to dip 0.8% from June 2008, after a 0.3% year-on-year fall in May. INTERIM DIVIDEND PAYMENT DATECare UK, Education Development International, MedicX Fund Ltd., Redhall Group, United DrugQUARTERLY PAYMENT DATEBritish Assets TrustAGMSBritish Land Co, Mitie Group, ProVen VCT 'C' Shares, Value and Income TrustTRADING ANNOUNCEMENTSBovis Homes Group, SIGFINAL DIVIDEND PAYMENT DATE3i Infrastructure, Albany Inv Trust, Blue Planet Financials & Income Inv Trust, Booker Group, Corin Group, Hill and Smith, M&C Saatchi, Marks & Spencer Group, Martin Currie Pacific Trust, May Gurney Integrated Services, Morgan Crucible, Northern 3 VCT, PayPoint, Prezzo, ProVen VCT, ProVen VCT 'C' Shares, Tesco, WhitbreadUK ECONOMIC ANNOUNCEMENTSProducer Prices (09:30)INTERNATIONAL ECONOMIC ANNOUNCEMENTSTrade Balance (US) (13:30)Import Price Index (US) (13:30)University of Michigan Consumer Confidence (US) (15:00)Industrial Production (EUR) (07:45)Manufacturing Output (FRA) (07:45)Current Account (FRA) (07:45)CGPI (JPN)