Tuesday preview: Antofagasta full-year results, Sainsbury trading update

16th Mar 2015 15:13

Antofagasta will report its 2014 financial results on Tuesday though the focus will likely be on reports the copper miner is reviewing the financial viability of its Chilean operation.President Diego Hernandez said the company is unable to guarantee its embattled Los Pelambres mine will continue to operate after it lost in a lawsuit against protestors who said the mine is affecting water availability. The group is appealing the court ruling.The mine delivered around 405,000 tonnes of copper last year, out of the 704,800 tonnes that the whole company produced."We cannot guarantee that it will not close, in light of what's been happening," Hernandez said in an interview with local newspaper La Tercera.Analysts at Investec said that while the miner had agreed to build a desalination plant if the mine was expanded, the costs to develop such a plant could "undermine the long term economics of the asset". However, the broker remained confident that the miner would not be forced into closing its mine."Los Pelambres is a Tier 1 copper mine and we would be surprised if the latest developments lead to the closure of the asset. The company reports tomorrow and we await further management commentary on the issues," Investec said.According to Numis, earnings before interest, tax, depreciation and amortisation is forecast to have fallen to $2.3bn in 2014, comapred with $2.7bn the year before, as lower production and metal prices were combined with higher costs.Meanwhile, J Sainsbury publishes a trading update amid concerns over supermarket price war. Shore Capital predicts a 3-3.5% decrease in like-for-like sales in the fourth quarter.Chief executive Mike Coupe is expected to say that lower prices and cost cuts will help it spring back from the slide in sales but that the outlook is likely to remain tough as discounters including Aldi and Lidl take away market share. Friday 20 MarchINTERIMSCVS GroupINTERIM DIVIDEND PAYMENT DATEDowning Three VCT C Shares, Downing Two VCT 'C' Shs, Green Reit, Rank Group, SSEQUARTERLY PAYMENT DATEAlpha Real Trust Ltd., Duet Real Estate Finance Ltd, Real Estate Credit Investments PCC Ltd, Royal Dutch Shell 'A', Royal Dutch Shell 'B', Utilico Investments Ltd (DI)INTERNATIONAL ECONOMIC ANNOUNCEMENTSBalance of Payments (EU) (09:00)Current Account (EU) (09:00)Producer Price Index (GER) (07:00)FINALSGamma Communications, JKX Oil & GasANNUAL REPORTCobham, Meggitt, Schroders, Schroders, Schroders (Non-Voting), Schroders (Non-Voting), Spirax-Sarco Engineering, Taylor WimpeyIMSSBerkeley Group Holdings (The)AGMSReact EnergyTRADING ANNOUNCEMENTSInvestecUK ECONOMIC ANNOUNCEMENTSPublic Sector Finances (09:30)FINAL DIVIDEND PAYMENT DATEAvon Rubber, easyJet, Games Workshop Group, Income & Growth VCT , Sanderson Group