Wednesday preview: Admiral and Standard Chartered report 2013 results

4th Mar 2014 15:22

Motor insurance company Admiral Group's annual results on Wednesday are likely to show a record of unbroken profit growth, according to Numis.The broker expects 2013 pre-tax profit of £362m, compared to £345m the previous year, driven by "favourable claims trends".Numis also predicts losses from its international businesses will fall to £19m from £25m. It would mark the first reduction in losses since the company launched Spanish unit Balumba in 2006, its debut international firm."With all the focus on the UK insurance business, it is possible the International businesses might spring a positive surprise," Numis said.Fellow FTSE 100 company Standard Chartered also releases full-year results tomorrow. The bank is said to be nearing deals to sell roughly a half-dozens units in Europe, Asia and the Middle East in an effort to mitigate the slowdown in emerging markets. The company is in advanced talks to sell its Standard Chartered Savings Bank and Standard Chartered Capital in South Korea, The Wall Street Journal reported yesterday. Therefore, the focus will be on further details of the group's restructuring.Numis has forecast a drop in pre-tax profit from $7.53bn in 2012 to $7.24bn in 2013. Group income is project to be flat at $18.9bn with 2.7% cost growth to $10.2bn. "We forecast a 30% increase in impairments to $1.5bn [2012: $1.2bn] driven by an increase in Consumer impairments to $1,043m ($672m) and Wholesale impairments broadly flat at $506m."In macro, a batch of data the UK, Eurozone and the US will be released. Early on reports will include the UK services purchasing managers' index (PMI), euro-area retail sales and Eurozone gross domestic product figures. Later on in the US will be weekly mortgage applications data, ADP's employment figures and ISM's non-manufacturing PMI.Wednesday March 5thINTERIM DIVIDEND PAYMENT DATECohort, Stagecoach GroupINTERIM EX-DIVIDEND DATEAlumasc Group, Ashmore Group, BHP Billiton, Casdon plc, Clinigen Group, Colefax Group, Darty, Genus, Gleeson (M J) Group, Hansard Global, Hays, JPMorgan Mid Cap Inv Trust, Kier Group, Oxford Instruments, Park Group, Redrow, Renishaw, Ricardo, Ruffer Investment Company Ltd Red PTG Pref SharesQUARTERLY EX-DIVIDEND DATEPremier Energy & Water Trust, Utilico Investments Ltd (DI)INTERNATIONAL ECONOMIC ANNOUNCEMENTSBeige Book Fed Survey (US) (19:00)Crude Oil Inventories (US) (15:30)GDP (1st release) (EU) (10:00)ISM Services (US) (15:00)MBA Mortgage Applications (US) (12:00)PMI Composite (EU) (09:00)PMI Composite (GER) (08:55)PMI Services (EU) (09:00)PMI Services (GER) (08:55)Retail Sales (EU) (10:00)Q4OJSC Megafon GDR (Reg S)FINALSAdmiral Group, BBA Aviation, Belgravium Technologies, Capital & Regional, Carillion, Dignity, Grafton Group Units, Legal & General Group, Lookers, Melrose Industries, Michael Page International, Novae Group, OJSC Megafon GDR (Reg S), Soco International, SportechSPECIAL DIVIDEND PAYMENT DATEMasawaraSPECIAL EX-DIVIDEND PAYMENT DATEPremier Energy & Water TrustAGMSCQS Rig Finance Fund Ltd., JPMorgan Russian SecuritiesUK ECONOMIC ANNOUNCEMENTSBRC Shop Price Index (00:01)Official Reserves (09:30)PMI Composite (09:30)PMI Services (09:30)FINAL EX-DIVIDEND DATEBlackRock World Mining Trust, Brunner Inv Trust, CRH, Domino Printing Sciences, Electronic Data Processing, Hazel Renewable Energy VCT 1, Hazel Renewable Energy VCT 2, Lavendon Group, Octopus Titan VCT 1, Octopus Titan VCT 2, Octopus Titan VCT 3, Octopus Titan VCT 4, Rio Tinto, Sanderson Group, Sinclair (William) Holdings, Spirent Communications, St. Modwen Properties, SWP Group, Telecity Group, TUI Travel, W H Ireland Group RD