Tuesday preview: Tesco, Southern Cross Healthcare, retail sales

6th Dec 2010 17:34

Tesco last month outlined its plans to quadruple revenue in China over the next five years and is likely mention the Far East again in its trading update.The shares dipped slightly Monday perhaps in anticipation of an unexciting update. Broker Jefferies International thinks UK trading is likely to have been 'pedestrian.'Southern Healthcare is also updating the market. Panmure Gordon expects the care home operator to report a 2% increase in full year revenues to £959.7m, though EBITDA will be sharply lower due to a decline in occupancy.'Attention is likely to focus on current trading and in particular occupancy, whether any progress has been made in re-negotiating rents, and the extent to which the 'New Horizons' programme will be able deliver costs savings,' the broker says.In economic news, the British Retail Consortium Retail Sales Monitor for November is due, with an improvement from October expected.'If the BRC November survey is healthy it would give a significant boost to hopes that the economy is on course for further decent growth in the fourth quarter following surprisingly resilient GDP expansion of 0.8% quarter-on-quarter in the third quarter. It would also be encouraging news for retailers as the key Christmas shopping period really kicks in,' says Howard Archer, chief UK and European economist for the forecasting group IHS Global Insight.'Conversely, a weak BRC survey could stoke concern that consumers are becoming increasingly cautious in their spending even before the fiscal tightening really starts to bite.'INTERIMSBglobal, Brulines Group, Daisy Group, Eredene Capital, Focus Solutions Group, NewRiver Retail Ltd. (Reg S)INTERIM DIVIDEND PAYMENT DATEBrit Insurance Holdings NV (DI), William HillINTERNATIONAL ECONOMIC ANNOUNCEMENTSCurrent Account (JPN)Trade balance (JPN)Machine Orders (JPN)Bankruptcies (JPN)Factory Orders (GER) (11:00)Consumer Credit (US) (20:00)ABC Consumer Confidence (US) (22:00)GMSAlexander David Securities Group, Artemis Alpha TrustFINALSAndor Technology, Innovation Group, Pressure Technologies, Southern Cross Healthcare Group, VictrexANNUAL REPORTDatongIMSSBellway, Tesco, WolseleyEGMSJSC KazMunaiGaz Exploration GDR (Reg S)AGMSArtisan, Avanti Capital, Brookwell Ltd. 'A' Shares, Brookwell Ltd. 'B' Shares, DCD Media, Egdon Resources, FRM Diversified Alpha Ltd.TRADING ANNOUNCEMENTSDolphin Capital Investors Ltd.UK ECONOMIC ANNOUNCEMENTSIndustrial Production (09:30)Manufacturing Production (09:30)BRC Sales Monitor (11:00)NIESR GDP estimateFINAL DIVIDEND PAYMENT DATEInterior Services Group