Week Ahead: Tesco, IG Group, BoE QE update

4th Dec 2009 11:52

Supermarket giant Tesco has recovered some of its bounce recently, as the effects of its double-points Clubcard promotional offer feed through to the top line. The company will issue a third quarter trading update on Tuesday. The performance in the third quarter last year was below par which means this year's figures should look good in comparison, but against that, falling food inflation in the UK means that top line growth will be harder to come by.Excluding petrol and including VAT, second quarter like-for-like sales grew 2.1% from a year earlier (+3.1% on a VAT-adjusted basis), and a similar performance is expected in the third quarter. 'We believe space growth will remain consistent at 2.5-3.0% growth, meaning underlying ex-fuel growth of 6% in the UK. Internationally, we forecast total growth of c.6% at constant exchange rates with Europe at c.1-2% and Asia at 11%,' Nomura Securities predicts.Spread betting firm IG Group issues an interim management statement on Wednesday covering the firm's second quarter, where it will be going up against tough comparatives. The firm has run into difficulties in Japan with its FXOnline offering and shareholders will be keen for an update on developments there.On the economic front, the Bank of England announces its interest rate decision and quantitative easing (QE) policy statement on Thursday. The smart money is on the status quo being maintained after the £25bn boost to QE in November.Chancellor of the Exchequer Alistair Darling will start his pre-Budget Report at 12.30pm on Wednesday, 9 December. Monday December 07INTERIMSAssetCo, Daisy Group, IS Pharma, Merchant Securities, Sirius Real Estate Ltd.INTERIM DIVIDEND PAYMENT DATEWilliam HillQUARTERLY PAYMENT DATEBPINTERNATIONAL ECONOMIC ANNOUNCEMENTSBalance of Trade (JPN) (23:50)Consumer Credit (US) (20:00)Current Account (JPN) (23:50)FINALSWichfordEGMSJSM IndochinaAGMSClearStream Technologies Group, Fidelity Asian Values, Medic Vision, Origin EnterprisesFINAL DIVIDEND PAYMENT DATEInterior ServicesTuesday December 08INTERIMSAnite Group, Northgate, Park GroupINTERNATIONAL ECONOMIC ANNOUNCEMENTSCoincident Index (JPN) (05:00)Consumer Confidence (AUS) (23:30)Consumer Confidence (US) (22:00)Crude Oil Inventories (US) (21:30)Current Account (AUS) (00:30)Gross Domestic Product (JPN) (23:50)Industrial Production (GER) (11:00)FINALSDomino Printing, Pressure Technologies, Southern Cross Healthcare GroupAGMSAvanti Capital, Billing Services Group, Downing Protected VCT I, EmblazeTRADING ANNOUNCEMENTTescoUK ECONOMIC ANNOUNCEMENTSBRC Sales Monitor (10:30)Industrial Production (09:30)Manufacturing Production (09:30)Retail Sales (00:01)FINAL DIVIDEND PAYMENT DATECranewareWednesday December 09INTERIMSEckoh, Eredene Capital, Imagination Technologies, Micro Focus International Plc, NewRiver Retail Ltd. (Reg S), Stagecoach GroupINTERIM EX-DIVIDEND DATE3i Group, AIM Distribution Trust, Brown (N.) Group, Brulines, Caffyns, Carphone Warehouse Group, Castings, Cyril Sweett, Dart Group, De La Rue, Electrocomponents, First Property Group, Foresight 4 VCT, Fuller Smith and Turner, Hogg Robinson, Hyder Consulting, Investec, Investment Company (The), Majestic Wine, May Gurney Integrated Services, MDM Engineering Group, Montanaro European Smaller Companies Trust, Northern 3 VCT, Octopus AIM VCT, Perpetual Income & Growth Inv Trust, Shanks Group, Sutton Harbour, Telecom Plus, TR Property Inv Trust, TR Property Inv Trust Sigma Shares, Utilico Emerging Markets Ltd., Value and Income Trust, Vedanta Resources, Ventus 1 VCT, Ventus 2 VCT, Ventus 3 VCT, VPQUARTERLY PAYMENT DATERoyal Dutch Shell 'A', Royal Dutch Shell 'B'QUARTERLY EX-DIVIDEND DATEBritish Assets Trust, Land Securities Group, Queen's Walk Investment Ltd.INTERNATIONAL ECONOMIC ANNOUNCEMENTSBalance of Trade (GER) (07:00)Consumer Price Index (GER) (07:00)Corporate Goods Price Index (JPN) (23:50)Crude Oil Inventories (US) (15:30)Current Account (GER) (07:00)Harmonised Index of Consumer Prices (EU) (07:00)MBA Mortgage Applications (US) (00:00)Wholesales Inventories (US) (15:00)FINALSATH Resources, CareTech HoldingEGMSAberdeen Growth VCT IAGMSAir Partner, Edinburgh Dragon Trust, Edinburgh Dragon Trust, IRP Property Investments, JPMorgan Elect Managed Cash Shares, JPMorgan Elect Managed Growth Shares, JPMorgan Elect Managed Income SharesTRADING ANNOUNCEMENTSPZ CussonsUK ECONOMIC ANNOUNCEMENTSBalance of Trade (09:30)BRC Shop Price Index (10:30)FINAL DIVIDEND PAYMENT DATEBlackRock Greater Europe Inv TrustFINAL EX-DIVIDEND DATEAberdeen Asset Management, AI Claims Solutions, Bellway, British Empire Securities & General Trust, Centaur Media, F&C Capital & Income Inv Trust, F&C Commercial Property Trust, Genus, Henderson Diversified Income Ltd., Local Shopping REIT, Noble Investments, Numis Corporation, Sportingbet, SVM Global Fund, Trading Emissions, Waterman GroupThursday December 10INTERIMSAPI Group, DS Smith, Sports Direct International, Tricorn GroupINTERIM DIVIDEND PAYMENT DATEC&C Group, Stobart Group, Victoria, Walker Crips Group, Wynnstay PropertiesQUARTERLY PAYMENT DATECanaccord Financial Inc., Nippon Telegraph & Telephone Corp.INTERNATIONAL ECONOMIC ANNOUNCEMENTSBalance of Trade (US)ECB Report (EU) (09:00)Gross Domestic Product (EU) (10:00)Industrial Production (EU) (09:00)Initial Jobless Claims (US) (13:30)Manufacturing Production (EU) (07:50)Unemployment Rate (AUD) (00:00)AGMSBowLeven, Glisten, Preston North End, Quadrise Fuels International, Rambler Metals and Mining, Tottenham HotspurUK ECONOMIC ANNOUNCEMENTSBoE Interest Rate Decision (12:00)Q1Premier FarnellFriday December 11INTERIM DIVIDEND PAYMENT DATE3i Infrastructure, Aberdeen Income & Growth VCT, Barclays, Braemar Shipping Services, Cobham, Invensys, Noble AIM VCT, Octopus Second AIM VCT, Pace, Printing.com, SABMillerINTERNATIONAL ECONOMIC ANNOUNCEMENTSBusiness Inventories (US) (15:00)Consumer Sentiment (US) (14:55)Retail Sales (US) (13:30)U. of Michigan Confidence (US) (15:00)AGMSAsian Citrus, Earthport, Gleeson (M J) Group, Henderson Far East Income Ltd., Lok'n Store Group, Mouchel Group, Rheochem, White Young Green, World Careers NetworkTRADING ANNOUNCEMENTSCarillionFINAL DIVIDEND PAYMENT DATEDechra Pharmaceuticals, Downing Protected VCT I, Dunelm Group, Edinburgh Dragon Trust, JPMorgan Smaller Companies Inv Trust