Thursday Preview: HMV, DS Smith, interest rates

8th Dec 2010 17:29

CD and DVD retailer HMV also sells video games, and is reporting interim results the day after Game said its margins this year will be down by between 1.6-1.9 percentage points due to the ferocious competition in the games and consoles market.CD and DVD sales face similar challenges and HMV is expected to announce that first half losses were wider than a year ago.Market data for September and October indicated no improvement in music, visual and gaming which means, in Nomura's view, that second quarter like for like (LFL) sales comparisons with a year ago are likely to be similar to the first quarter's.Nomura predicts a 14.9% year on year decline in second quarter LFL sales at HMV UK, an 8.1% dip at HMV International and a 1.8% decline at Waterstone's.It predicts first half losses at the pre-tax level of £36.1m, versus losses of £24.9m last year.Of key interest to income investors will be the dividend. Based on last year's dividend payments HMV is yielding an improbable 16.0%.Other companies reporting include packaging company DS Smith, whose numbers are expected to be accompanied by a strategic review. The company said in October that interim results should be way ahead of last year as the "encouraging" overall trading in the first quarter continued into the second.The Bank of England's monthly interest rate decision is due, but these days the minutes from the meeting, published later in the month, are generally much more interesting. Everyone is expecting the status quo to be maintained tomorrow, although, as has been the case in recent months, there is likely to have been some very lively debate behind closed doors.Thursday December 09INTERIMSAshtead Group, DS Smith, HMV Group, Park Group, Photo-Me InternationalINTERIM DIVIDEND PAYMENT DATEVictoriaQUARTERLY PAYMENT DATEHenderson Financial Opportunities Ltd.QUARTERLY EX-DIVIDEND DATEVirgin Media Inc.INTERNATIONAL ECONOMIC ANNOUNCEMENTSMachine Tool Orders (JPN)CGPI (JPN)Non-farm payroll (FRA) (06:30)Consumer Price Index (GER) (07:00)ECB Report (EU) (09:00)Initial Jobless Claims (US) (13:30)Continuing Claims (US) (13:30)Wholesales Inventories (US) (15:00)Q2Ashtead GroupQ3Premier FarnellFINALSCareTech Holding, Titon HoldingsSPECIAL DIVIDEND PAYMENT DATEGartmore Growth OpportunitiesAGMSAIM Investments, Air Partner, Altona Energy, Baobab Resources, ClearStream Technologies Group, Eurovestech, Quadrise Fuels International, Renewable Energy Generation Ltd.TRADING ANNOUNCEMENTSIG Group Holdings, Rank GroupUK ECONOMIC ANNOUNCEMENTSBalance of Trade (09:30)BoE Interest Rate Decision (12:00)FINAL DIVIDEND PAYMENT DATEBlackRock Greater Europe Inv Trust