Week Ahead: The Budget, Next, Kingfisher

19th Mar 2010 11:24

The Chancellor of the Exchequer, Alistair Darling, will make what could be his last Budget speech on Wednesday, while on the corporate side there are a number of big company announcements due, with retailers well represented.Fashion retailer Next is announcing full year figures on Thursday and, 'given the resilience of clothing sales in January (per BRC [British Retail Consortium] data) and the implicit expression of confidence from the decision to pursue a non-discretionary buyback programme into close season,' JP Morgan Cazenove is 'not expecting any disappointments'. Market expectations are for pre-tax profit of £495.92m, up from £428.8m the year before. Sales are tipped to climb to £3,373.1m from £3,271.5m the previous year.Comparative figures for DIY retailer Kingfisher are starting to get tougher, though broker Nomura Securities thinks 'the recent advertising focus on price vs. competitors may help to annualise LFL [like for like] growth.'The broker is forecasting full-year pre-tax profit of £545m, which is virtually bang on the median point of broker forecasts. The market is expecting sales to rise to £10,562m from £10,026m the year before. 'From a strategy perspective, we expect more detail on the Trade Point roll-out, which is currently under way, and the longer term trade opportunity, as well as some level of detail on delivery of the Jan 2012 plan,' Nomura said. Monday March 22INTERIMSNautical Petroleum, PureCircle, WolseleyQUARTERLY PAYMENT DATEVirgin Media Inc.INTERNATIONAL ECONOMIC ANNOUNCEMENTSAuto Sales (AUS) (00:00)Chicago Fed National Activity Index (US) (12.30)Consumer Confidence (EU) (15.00)GMSPan Andean ResourcesFINALSAG Barr, China Food, Cryo-Save Group, DataCash Group, Development Securities, Forth Ports, Green Dragon Gas, Healthcare Locums, Kentz Corporation, Nationwide Accident Repair Services, Orchid Developments Group, Parkwood Holdings, Regus, RGI International, Zenergy PowerANNUAL REPORTBrit Insurance Holdings NV, JPMorgan US Discovery Inv TrustEGMSEIH PlcAGMSHircoTRADING ANNOUNCEMENTSBrit Insurance Holdings NVTuesday March 23INTERIM DIVIDEND PAYMENT DATEBHP Billiton, Park GroupUK ECONOMIC ANNOUNCEMENTSConsumer Prices Index (09:30)Retail Prices Index (09:30)BBA Loans for House Purchases (09:30)INTERNATIONAL ECONOMIC ANNOUNCEMENTSBoJ Interest Rates Minutes (JPN) (23:50)Existing Home Sales (US) (15:00)Richmond Fed Manufacturing Index (US) (14.00)Business Confidence Indicator (FRA) (7.45)Production Outlook Indicator (FRA) (7.45)Supermarket and Convenience Store Sales (JPN) FINALS1st Dental Laboratories, 888 Holdings, Atlantic Global, Cairn energy, CBG Group, Energetix, Ferrexpo, Hansteen Holdings, Henry Boot, Ideal Shopping Direct, Irish Continental Group Units, Legal & General Group, LMS Capital, Morson Group, Norcon, Parity Group, Portmeirion, RAB Capital, Straight, Titanium Resources, Trafficmaster, Tribal Group, Vindon Healthcare, VphaseANNUAL REPORTFerrexpo, Flying Brands, Meggitt, Rolls-Royce Group, SpectrisEGMSTiton HoldingsAGMSGalleon HoldingsTRADING ANNOUNCEMENTSImperial Tobacco GroupQ1CarnivalWednesday March 24INTERIMSBaqus, Bellway, RSM Tenon Group, Smiths GroupINTERIM DIVIDEND PAYMENT DATEHargreaves Services, Standard Life Equity Income TrustINTERIM EX-DIVIDEND DATEBritish Sky Broadcasting Group, Brooks Macdonald, Close Brothers Group, NWF Group, Photo-Me International, Plexus, Renewable Energy Generation, Thorpe (F.W.)QUARTERLY EX-DIVIDEND DATEHenderson Financial Opportunities LimitedINTERNATIONAL ECONOMIC ANNOUNCEMENTSDurable Goods Orders (US) (13:30)New Homes Sales (US) (15:00)Import Prices (GER) PMI Manufacturing Survey (FRA) (08:00)PMI Service Sector Survey (FRA) (08:00)PMI Manufacturing Survey (GER) (08:30)PMI Service Sector Survey (GER) (08:30)PMI Service Sector Survey (EU) (09:00)PMI Manufacturing Survey (EU) (09:00)IfO Business Climate (GER) (09:00)IfO Current Assessment (GER) (09:00)IfO Expectations (GER) (09:00)New Orders (EU) (10:00)GMSLimelight VCT, Michelmersh Brick Holdings, SatCom Group, SavillsFINALSAbbey Protection, Alliance Pharma, EG Solutions, Espirito Santo, Eurasian Natural Resources, Hochschild Mining, IQE, Melrose Resources, Metalrax Group, Nichols, Panmure Gordon & Co, Pilat Media Global, Planet Payment Inc., Plaza Centers, Resolution, S & U, Soco International, Source BioScienceSPECIAL EX-DIVIDEND PAYMENT DATECharlemagne CapitalAGMSAukett Fitzroy Robinson Group, Autonomy Corporation, Beazley Group, Minorplanet Systems, Novo-Nordisk AS 'B' Shares, SafestoreTRADING ANNOUNCEMENTSICAP, Man Group, Sainsbury (J)UK ECONOMIC ANNOUNCEMENTSChancellor Budget Statement (12:30)CBI Distributive Trades Report (11:00)FINAL EX-DIVIDEND DATE4imprint Group, Aviva, F&C Asset Management, French Connection, InterContinental Hotels Group, Stadium Group, Stobart Group Ltd., Wynnstay GroupThursday March 25INTERIMSCeres Power Holdings, Clinton CardsINTERIM DIVIDEND PAYMENT DATETown Centre SecuritiesUK ECONOMIC ANNOUNCEMENTSRetail Sales (09:30)INTERNATIONAL ECONOMIC ANNOUNCEMENTSCorporate Service Price Index (JPN) (23:50)Weekly Jobless Claims (US) (12.30)GfK Consumer Confidence Survey (GER) (7.00)Consumer Spending (FRA) (07:45)M3 (EU) (09:00)Consumer Prices Index (JPN)Q4Petropavlovsk, Signet JewelersGMSAberdeen Development Capital, Clinton Cards, MonitiseFINALSACTA, Churchill China, Empresaria Group, Evolution Group, H & T Group, Inditherm, Kingfisher, Lupus Capital, M&C Saatchi, Moss Bros, Next, Northbridge Industrial Services, office2office, Petropavlovsk, Premier Oil, PV Crystalox Solar, RCG Holdings, Scisys, Signet Jewelers, Sportech, Ted BakerANNUAL REPORTModern WaterSPECIAL DIVIDEND PAYMENT DATEMaintel HoldingsEGMSBanco de Chile ADRAGMSBanco de Chile ADR, Image Scan Holdings, Rights & Issues Inv Trust Income Shares, Thomas Cook GroupTRADING ANNOUNCEMENTSLondon Stock Exchange Group, Thomas Cook GroupFINAL DIVIDEND PAYMENT DATEBrunner Inv TrustFriday March 26INTERIMSArtiliumINTERIM DIVIDEND PAYMENT DATEAquarius Platinum Ltd., Character Group, Electric & General Inv Trust, Hargreaves Lansdown, Heath (Samuel) & Sons, Lindsell Train Inv Trust, Ruffer Investment Company Ltd., Scottish & Southern EnergyUK ECONOMIC ANNOUNCEMENTSTotal Business Investment (09:30)INTERNATIONAL ECONOMIC ANNOUNCEMENTSConsumer Price Index (JPN) (23:30)U. of Michigan Confidence (US) (15:00)Gross Domestic Product (US) (12:30)Personal Consumption (US) (12:30)University of Michigan Consumer Confidence (US) (13.55)Consumer Confidence (FRA) (07:45)GMSSpitfire OilFINALSGreenwich Loan Income Fund Limited, Judges Scientific, Robinson, Songbird Estates, TawaANNUAL REPORTAnglogold Ashanti, Provident Financial, Smith & Nephew, Spirax-Sarco Engineering, Standard CharteredSPECIAL DIVIDEND PAYMENT DATEFletcher King, Hargreaves Lansdown, Throgmorton TrustEGMSIncome & Growth VCT, Pangea DiamondFieldsAGMSMCB Bank Ltd. GDR (Reg S)TRADING ANNOUNCEMENTSArtilium, Spirax-Sarco Engineering, Standard CharteredFINAL DIVIDEND PAYMENT DATEAbbey Protection, Catlin Group, Henderson Opportunities Trust, LPA Group, Ocean Wilsons, Sanderson Group, SpaceandPeople, Throgmorton Trust