Week Ahead: BG Group, McBride, BoE rate decision

4th Feb 2011 11:27

Results from the two giants of the UK oil sector, BP and Royal Dutch Shell, met with lukewarm responses this week which may fill BG Group shareholders with a frisson of foreboding ahead of the oil and gas group's fourth quarter figures on Tuesday.Broker Charles Stanley is expecting fourth quarter net income to dip to $950m from $967m the year before, and reckons the group will declare a dividend of 11.2 cents, which would take the full year divi up to 21 cents."In the Exploration & Production division, it has been a slow year in terms of production but volumes should move ahead in Q4 [fourth quarter] compared to Q3. Also, pricing, especially UK gas prices, should help to move the Q4 profit ahead to about $1bn compared to $0.8bn in Q3," Charles Stanley said."In Q3 there was an exceptionally strong profit contribution of $725m from liquefied natural gas (LNG) which is not expected to repeat in Q4. LNG profit guidance is $1.8- 2bn for 2010 and a more normal $500m contribution is expected in Q4," the broker added.The group is also set to make a strategy presentation to the investment community, and here Charles Stanley expects the group to reiterate production guidance of 6 - 8% per annum growth through to 2020. McBride, which makes own label products for retailers, warned at the beginning of January that full year performance could be at the lower end of its expectations. On Tuesday, the company gives the half-time score with its interim results, which should give a clue as to how close to the bottom end the full year results are likely to be.Panmure Gordon has forecast a 1% decline in revenues to £408m and a 26.5% fall in profit before tax to £16.5m, giving an earnings per share of 6.8p."Input cost pressures are likely to remain a significant headwind for McBride and should provide a test of the recently implemented procedures to recover costs more quickly. Promotional activity remains high in personal care and in some categories in Household such as "Auto dish wash" but any further insight into the current promotional environment would be useful," Panmure Gordon said.On the economic front, Thursday is the big day, with the Bank of England announcing its interest rate decision. Though two members of the Monetary Policy Committee voted for a rate increase last month, up from just one the month before, the smart money is still on the benchmark lending rate being kept at its historically low level of 0.5%. Likewise, the Bank of England's asset purchase target is tipped to remain at £200bn.Monday February 07INTERIMSKofaxINTERIM DIVIDEND PAYMENT DATEBT GroupINTERNATIONAL ECONOMIC ANNOUNCEMENTSMoney Supply (JPN)Current Account (JPN)Trade Balance (JPN)Sentix Investor Confidence (EC) (09:30)Factory Orders (GER) (11:00)Consumer Credit (US) (20:00)Q4Randgold Resources Ltd.GMSOilex Ltd.FINALSAmino Technologies, St. Modwen PropertiesANNUAL REPORTWynnstay GroupEGMSBrookwell Ltd. 'B' SharesTRADING ANNOUNCEMENTSBellwayFINAL DIVIDEND PAYMENT DATEScottish Inv TrustTuesday February 08INTERIMSMcbrideQUARTERLY EX-DIVIDEND DATEIBM Corp.INTERNATIONAL ECONOMIC ANNOUNCEMENTSBankruptcies (JPN)Bank of France Business Sentiment (FRA) (07:30)Trade Balance (FRA) (07:45)Industrial Production (GER) (11:00)NFIB Small Business Optimism (US) (12:30)Q4BG Group, Wolfson MicroelectronicsGMSMelrose ResourcesFINALSBeazley, Low & Bonar, Patsystems, Wolfson Microelectronics, XstrataIMSSMcbride, Thomas Cook GroupAGMSRenovo Group, VictrexUK ECONOMIC ANNOUNCEMENTSBRC Retail Sales Monitor (00:01)RICS House Price Balance (00:01)Wednesday February 09INTERIMSAvingtransINTERIM DIVIDEND PAYMENT DATEAshtead Group, Halma, Workspace GroupINTERIM EX-DIVIDEND DATECity of London Investment Group, Clyde Process Solutions, Murgitroyd Group, Penna Consulting, Puma High Income VCT , Stagecoach GroupQUARTERLY EX-DIVIDEND DATEBP, GlaxoSmithKline, JPMorgan Claverhouse Inv Trust, Royal Dutch Shell 'A', Royal Dutch Shell 'B', UnileverINTERNATIONAL ECONOMIC ANNOUNCEMENTSConsumer Confidence (JPN)Machine Tool Orders (JPN)Machine Orders (JPN)Domestic CGPI (JPN)Balance of Trade (GER) (07:00)Current Account (GER) (07:00)Retail Price Index (GER) (07:00)UK ECONOMIC ANNOUNCEMENTSBRC Shop Price Index (00:01)Visible Trade Balance (09:30)Non-EU Trade Balance (09:30)GMSPathfinder Minerals , Private Equity InvestorFINALSCoca-Cola Hellenic Bottling Company SA, CSR, Smurfit Kappa Group, Telecity Group, THB GroupIMSSCable & Wireless Communications, Daily Mail and General Trust, Grainger, Quintain Estates & DevelopmentSPECIAL EX-DIVIDEND PAYMENT DATEInternational Power, VictrexEGMSSubex Ltd. GDR (Reg S)AGMSAlbion Income & Growth VCT, Daily Mail and General Trust, Future, GraingerFINAL DIVIDEND PAYMENT DATEEdinburgh Worldwide Inv TrustFINAL EX-DIVIDEND DATEArtemis VCT, Impax Asset Management Group, Sage Group, Victrex, ZytronicThursday February 10INTERIMSAquarius Platinum Ltd., Diageo, Hargreaves LansdownINTERNATIONAL ECONOMIC ANNOUNCEMENTSIndustrial Production (FRA) (07:45)Manufacturing Output (FRA) (07:45)ECB Report (EU) (09:00)Weekly Jobless Claims (13:30)Wholesales Inventories (US) (15:00)Monthly Budget Statement (US) (19:00)Q4Anglogold Ashanti Ltd., Smith & NephewFINALSAnglogold Ashanti Ltd., Catlin Group Ltd., Rio Tinto, Rolls-Royce Group, Shire Plc, Smith & NephewAGMSFrutarom Indstries Ltd.GDR (Reg S), Hargreave Hale AIM VCT 1, Paragon Group Of Companies, Pressure Technologies, ZytronicUK ECONOMIC ANNOUNCEMENTSIndustrial Production (09:30)Manufacturing Production (09:30)BoE Interest Rate Decision (12:00)NIESR GDP estimate FINAL DIVIDEND PAYMENT DATECardiff Property, Redhall GroupFriday February 11INTERIM DIVIDEND PAYMENT DATEUmecoQUARTERLY PAYMENT DATEM&G Equity Inv Trust Income SharesQUARTERLY EX-DIVIDEND DATELilly (Eli) & CoINTERNATIONAL ECONOMIC ANNOUNCEMENTSConsumer Prices Index (GER) (07:00)Current Account (FRA) (07:45)Non-Farm Payroll (FRA) (07:45)Wage Growth (07:45)Balance of Trade (US) (13:30)University of Michigan Consumer Confidence (US) (14:55)GMSDDD Group, Fidelity China Special Situations IMSSShaftesburyAGMSEnegi Oil, OMG, Shaftesbury, Thomas Cook GroupTRADING ANNOUNCEMENTSS & UFINAL DIVIDEND PAYMENT DATEBritvic, Daily Mail and General Trust, Daily Mail and General Trust 'Ord' Shares, Grainger, JPMorgan Asian Inv Trust, LonminUK ECONOMIC ANNOUNCEMENTS Producer Prices (09:30)