Week ahead: Eurozone GDP, Burberry, SABMiller

11th Nov 2011 10:45

Next week will likely focus on the ongoing developments in the Eurozone, especially with the region's economic growth data due out on Tuesday. However, several blue chip companies will release their interim results, including Burberry, SABMiller and ICAP.The flash estimate of third quarter Eurozone gross domestic product (GDP) is due out on Tuesday, which is sure to be keenly watched by the markets after the European Commission slashed its estimates for 2012 growth on Thursday from 1.8% to just 0.5%. Bloomberg consensus is expecting the region to grow by 0.2% over the three month period, matching 0.2% growth seen in the second quarter. However, year-on-year growth is expected to slow from 1.6% in the second quarter to 1.4%."Overall eurozone GDP data is...expected to confirm that the region's aggregated economy has performed poorly and is deteriorating," according to Charles Stanley.Also on Tuesday, luxury brand Burberry is expected to release its first half results. The firm has already confirmed that revenues rose 30% in the six months ended 30 September, so Credit Suisse notes that the focus next week will likely be on margins, cash flow and outlook comments.The Swiss broker thinks that gross margins will be 64.8% and operating margin will be 14.9% ("broadly flattish year-on-year"), translating into £116m operating profit. It also expects Burberry to reports a pre-tax profit of £159m, a 24% growth on last year.In regards to the outlook, Credit Suisse said: "Burberry should be performing better than most (given the momentum of the brand) but when thinking about luxury demand in general, it's not only about the ability of luxury shoppers to spend but it's also about sentiment and this has materially worsened in the EU."Charles Stanley analyst Sam Hart said, "Assuming that a Lehman-style meltdown in the financial system can be avoided, we expect global demand for luxury goods to remain buoyant, with emerging markets continuing to be the driver."Thursday will see the first half results of drinks giant SABMiller. The company, which is behind brands inlcuding Pilsner Urquell, Fosters and Grolsch, is expected to generate £15.4bn in revenue in the six months ended 30 September, according to Charles Stanley, up from £14.24bn the year before. Pre-tax profit is expected to rise from £2.17bn to £2.36bn.While beer volumes and sales data was released in October, all eyes will be on the operating margin expansion which was said to have been "constrained" due to higher raw material costs, marketing spend and central costs."The valuation looks up with events near term, but we suggest adding to holdings on any sustained weakness," Charles Stanley said on Friday 11 November.BCMonday November 14INTERIMSCranswick, Electrocomponents, Entertainment One Ltd. (DI), Latchways, Majestic Wine, Sacoil Holdings (DI), Tongaat-Hulett Ltd., UBC Media Group, Vectura Group, Workspace GroupINTERIM DIVIDEND PAYMENT DATELombard Risk Management, Travis Perkins, WPPINTERNATIONAL ECONOMIC ANNOUNCEMENTSIndustrial Production (EU) (10:00)Q3Bank Pekao SA GDS (Reg S)GMSCharter International, TwentyIMSSCatlin Group Ltd., InterserveFINAL DIVIDEND PAYMENT DATECPL ResourcesTuesday November 15INTERIMSAdvanced Computer Software Group, Aveva Group, Burberry Group, Cropper (James), RenoldINTERIM DIVIDEND PAYMENT DATEHargreave Hale AIM VCT 2, Sagicor Financial Corp.QUARTERLY PAYMENT DATEAbbott Laboratories, Marsh & Mclennan Cos Inc.INTERNATIONAL ECONOMIC ANNOUNCEMENTSBalance of Trade (EU) (10:00)Business Inventories (US) (13:30)GDP (Flash Estimate) (EU) (10:00)Gross Domestic Product (GER) (07:00)Producer Price Index (US) (13:30)Retail Sales (US) (13:45)Retail Sales Inventories (US) (15:15)ZEW Survey (EU) (10:00)ZEW Survey (GER) (10:00)Q3JSC Acron GDR (Reg S), Telecom Egypt SAE GDS (Regs)GMSMid-StatesFINALSAccumuli , easyJet, Infrastrata, SupercartANNUAL REPORTFidelity Special ValuesIMSSAfren, Aseana Properties Ltd., John Menzies, Premier OilEGMSAseana Properties Ltd.AGMSCAP-XX Ltd., Harbourvest Senior Loans Europe Ltd., Henderson EuroTrust, IRP Property Investments Ltd., Wilmington GroupTRADING ANNOUNCEMENTSMicro Focus International PlcUK ECONOMIC ANNOUNCEMENTSConsumer Price Index (09:30)Retail Price Index (09:30)Wednesday November 16INTERIMSAlterian, Hampson Industries, Harvard International, ICAP, London Stock Exchange Group, Speedy Hire, UK Mail Group INTERIM DIVIDEND PAYMENT DATECentricaINTERIM EX-DIVIDEND DATEAndrews Sykes Group, Carphone Warehouse Group, DCC, Great Portland Estates, Hansa Trust, HICL Infrastructure Company Ltd., Marks & Spencer Group, Prime People, Printing.com, Sainsbury (J), Synergy Health, Vedanta Resources, Vodafone Group, Wynnstay PropertiesQUARTERLY EX-DIVIDEND DATEM WinkworthINTERNATIONAL ECONOMIC ANNOUNCEMENTSCapacity Utilisation (US) (16:15)Consumer Price Index (EU) (10:00)Consumer Price Index (US) (13:30)Crude Oil Inventories (US) (15:30)Industrial Production (US) (16:15)MBA Mortgage Applications (US) (12:00)New Car Registrations (EU) (10:00)Q3New World Resources A Shares, New World Resources NV A SharesGMSAnglogold Ashanti Ltd., Downing Planned Exit VCT 2, Downing Planned Exit VCT 3FINALSUnited DrugIMSSAvis Europe, Beazley, Centaur Media, Melrose, Paddy Power, Unite GroupSPECIAL EX-DIVIDEND PAYMENT DATEGleeson (M J) Group, Rotork, Vodafone GroupEGMSGVC HoldingsAGMSAllergy Therapeutics, Barratt Developments, Camco International LTd., Cash Converters International Ltd, Kier Group, Mobile Streams, NorthamberUK ECONOMIC ANNOUNCEMENTSBoE Inflation Report (09:30)Claimant Count Rate (09:30)Unemployment Rate (09:30)FINAL DIVIDEND PAYMENT DATEHargreaves ServicesFINAL EX-DIVIDEND DATEAir Partner, British Sky Broadcasting Group, Euromoney Institutional Investor, Fidelity Special Values, JPMorgan Global Emerging Income Trust, JPMorgan Smaller Companies Inv Trust, Lok'n Store Group, Octopus Eclipse VCT 1, Octopus Eclipse VCT 3, Octopus Eclipse VCT 4, Sherborne Investors (Guernsey) 'A' Shares, TristelThursday November 17INTERIMSAtkins (WS), BTG, Dart Group, Investec, Metric Property Investments , Mothercare, Norcros, RIT Capital Partners, SABMillerINTERIM DIVIDEND PAYMENT DATEAviva, British Polythene Industries, Game Group, Scisys, Tullett PrebonINTERIM EX-DIVIDEND DATE3½% War LoanINTERNATIONAL ECONOMIC ANNOUNCEMENTSBloomberg Consumer Confidence (US) (14:45)Building Permits (US) (13:30)Continuing Claims (US) (13:30)Housing Starts (US) (13:30)Initial Jobless Claims (US) (13:30)Philadelphia Fed Index (US) (15:00)Q3MHP SA GDR (Reg S)GMSSacoil Holdings (DI)IMSSAlpha UK Multi Property Trust, Amec, Amlin, Chaucer Holdings, Close Brothers Group, CLS Holdings, Glencore International, Keller Group, Lamprell, Rexam, Ricardo, Serco Group, Ted Baker, UTV Media, Vitec GroupAGMSAlternative Asset Opportunities PCC Ltd., Close Brothers Group, Dunelm Group, El Oro Ltd, New Star Investment Trust, Ricardo, Sacoil Holdings (DI), Versatile Systems Inc. (DI)UK ECONOMIC ANNOUNCEMENTSInternet Retail Sales (09:30)Retail Sales (09:30)FINAL DIVIDEND PAYMENT DATEIndigoVision Group, Strategic Equity Capital, Thorpe (F.W.), Wilmington GroupFriday November 18INTERIMSRecordINTERIM DIVIDEND PAYMENT DATEHunting, Intertek Group, M&C Saatchi, NTT DoCoMo Inc, Octopus Apollo VCT 1, Octopus Apollo VCT 2, Octopus Apollo VCT 3, Octopus Eclipse VCT 2, Raven Russia Ltd., Standard LifeINTERNATIONAL ECONOMIC ANNOUNCEMENTSLeading Indicators (US) (15:00)Producer Price Index (GER) (07:00)IMSSAxis-Shield, FBD Holdings, Headlam Group, Hill & Smith Holdings, RotorkEGMSJSC Sitronics GDR (Reg S)AGMSAlbemarle & Bond Holdings, Cleardebt Group, Hansard Global, Helphire Group, Matchtech Group, Nautical Petroleum, Physiomics, Savile GroupFINAL DIVIDEND PAYMENT DATEGalliford Try, Go-Ahead Group, Hansard Global, Hays, Henderson EuroTrust, Interior Services Group