| | Sunday 12 August 2012 A MESSAGE FROM TOM by Tom Winnifrith An odd week. In the brave new world of new media, in terms of twitter followers I moved up from 18.25 millionth place to be just inside the top 12 million. Never before have I rushed past 6 million people so quickly! Only eight weeks in the twittering game I am hard on the heels of long time veterans like t1ps Editor in chief Richard Gill, although the tweets he sends out (pictures of floorboards) are, I can see a big draw (More interesting than your fizzy red wine – RG)...
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The Week Ahead Michael Page, Standard Life, BoE minutes
Recruitment firm Michael Page gets the week off to an interesting start with its interim results. Shareholders will be hoping for an improvement on a dismal trading statement last month, but Peel Hunt thinks they are unlikely to get it.
The company has already trailed a profit of GBP273.9m for the first half of the year, 0.4% below the same period in 2011, so focus will be on how the third quarter is developing.
"We do not expect much to have changed since the Q2 [second quarter] results at the beginning of July, but the outlook has certainly not improved. Even after downgrades of 25% to our 2013 [estimate] numbers, we think that forecasts on a five-year view could still be too high," Peel Hunt said.
The broker takes comfort from the recruiter's strong cash position, which should enable it to ride out the current trough, "but recovery still feels a long way away and we think the price still reflects a much more optimistic outlook (we would argue it is consistent with a return to peak profits in three years - now looking highly unlikely," the broker added.
Peel Hunt sees better value elsewhere, and rates the shares a "sell", with a target price of 280p.
Wednesday is looking a busier day, for once, than Thursday, with Balfour Beatty, Eurasian Natural Resources Corp (ENRC), Interserve, Resolution and Pennon all set to report.
Life assurance leviathan Standard Life had a good first quarter, with assets under administration rising a bit more than the market had been anticipating.
The implementation of the Retail Distribution Review is very much in the minds of life assurance companies, as it is coming up fast. The new regulations will change the relationship between insurance brokers and life assurance companies, and Wednesday's statement may contain some indication from Standard Life's boss, David Nish, of how he thinks the company will fare.
Also out on Wednesday will be the minutes from the August meeting of the Bank of England's policy-making team, the Monetary Policy Committee (MPC).
The Bank's Governor, Mervyn King, made it pretty clear in his press conference following the release of the central bank's inflation trends report that he did not think it was necessary just yet to contemplate more financial stimulus, whether through more asset purchases or a rate cut, but it will be interesting to see if any of his colleagues on the MPC disagree with him.
In the UK, inflation (Tuesday) and labour market (Thursday) data will be of interest, suggests Credit Suisse.
"We expect inflation to continue moving downwards, and for the unemployment rate data to be broadly unchanged on the month. Retail sales data will also give some indication of consumer behaviour in July," the Swiss bank said.
Monday August 13
INTERIMS
Michael Page International, Petrofac Ltd.
QUARTERLY EX-DIVIDEND DATE
Lilly (Eli) & Co
Q2
Telecom Egypt SAE GDS (Regs)
GMS
easyJet
ANNUAL REPORT
Provexis
IMSS
Stagecoach
AGMS
1pm, ShalkiyaZinc NV GDR (Reg S)
FINAL DIVIDEND PAYMENT DATE
Monks Inv Trust
Tuesday August 14
INTERIMS
Anglo Pacific Group, CRH, Dragon Oil, JKX Oil & Gas, Menzies(John), SDL, Standard Life, Tribal Group
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Business Inventories (US) (13:30)
GDP (Flash Estimate) (EU) (10:00)
Gross Domestic Product (GER) (07:00)
Industrial Production (EU) (10:00)
Manufacturing Inventories (US) (15:00)
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)
Q2
Anglo Pacific Group
FINALS
NWF Group
ANNUAL REPORT
Baltic Oil Terminals
AGMS
ADC African Development Corporation GmbH, Baltic Oil Terminals, Castings, Eredene Capital
UK ECONOMIC ANNOUNCEMENTS
Consumer Price Index (09:30)
Retail Price Index (09:30)
FINAL DIVIDEND PAYMENT DATE
Amati VCT
Wednesday August 15
INTERIMS
Balfour Beatty, CLS Holdings, Eurasian Natural Resources Corp., Huntsworth, Interserve, Lookers, PPHE Hotel Group Ltd, Resolution Ltd., Vindon Healthcare
INTERIM EX-DIVIDEND DATE
Anglo American, British American Tobacco, CSR, Dairy Farm International Holdings Ltd. (Singapore), Foresight 2 VCT Planned Exit Shares, Foresight VCT Planned Exit Shares, Fresnillo, Hammerson, Hongkong Land Holding Ltd. (Singapore), Informa, Japan Residential Investment Co Ltd., Jardine Matheson Holdings Ltd (Singapore), Jardine Strategic Holdingd Ltd. (Singapore), Man Group, Mandarin Oriental International (Singapore), Meggitt, Moneysupermarket.com Group, Pearson, Rio Tinto, RM, Schroders, Schroders (Non-Voting), Telecity Group, Ultra Electronics Holdings
QUARTERLY PAYMENT DATE
Abbott Laboratories, Marsh & Mclennan Cos Inc., Merchants Trust
QUARTERLY EX-DIVIDEND DATE
Boeing Co, M Winkworth, MedicX Fund Ltd.
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Capacity Utilisation (US) (16:15)
Consumer Price Index (US) (13:30)
Crude Oil Inventories (US) (15:30)
Industrial Production (US) (16:15)
MBA Mortgage Applications (US) (12:00)
Wholesale Price Index (GER) (07:00)
GMS
HMV Group, Mercury Recycling Group
FINALS
Stagecoach Theatre Arts
IMSS
Pennon Group
AGMS
Mountview Estate
UK ECONOMIC ANNOUNCEMENTS
BoE Interest Rate Minutes (09:30)
Claimant Count Rate (09:30)
Unemployment Rate (09:30)
FINAL DIVIDEND PAYMENT DATE
National Grid, Speedy Hire
FINAL EX-DIVIDEND DATE
Ashtead Group, Carclo, Iomart Group, Latchways, Mulberry Group, New Century AIM VCT, Northgate, Prosperity Minerals Holdings Ltd., PZ Cussons, Vedanta Resources
Thursday August 16
INTERIMS
BATM Advanced Communications Ltd., Cineworld Group, Hikma Pharmaceuticals, PV Crystalox Solar, Talvivaara Mining Company, Xaar
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Bloomberg Consumer Confidence (US) (14:45)
Building Permits (US) (13:30)
Consumer Price Index (EU) (10:00)
Continuing Claims (US) (13:30)
Harmonised Index of Consumer Prices (EU) (10:00)
Housing Starts (US) (13:30)
Initial Jobless Claims (US) (13:30)
Philadelphia Fed Index (US) (15:00)
Q2
Talvivaara Mining Company
GMS
Aegis Group, Energy Technique
IMSS
Micro Focus International
AGMS
IGas Energy, Triad Group
UK ECONOMIC ANNOUNCEMENTS
Internet Retail Sales (09:30)
Retail Sales (09:30)
FINAL DIVIDEND PAYMENT DATE
F&C Global Smaller Companies, Moss Bros Group, MS International
Friday August 17
INTERIM DIVIDEND PAYMENT DATE
Domino Printing Sciences, Imperial Tobacco Group, Sanderson Group
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Leading Indicators (US) (15:00)
Producer Price Index (GER) (07:00)
U. of Michigan Confidence (Prelim) (US) (15:00)
AGMS
Chagala Group Ltd. GDR (Reg S), Heath (Samuel) & Sons, Triple Plate Junction
UK ECONOMIC ANNOUNCEMENTS
Balance of Trade (EU) (10:00)
Current Account (EU) (09:00)
FINAL DIVIDEND PAYMENT DATE
British Smaller Companies VCT, Castings, Elektron Technology, FirstGroup, Henderson Private Equity Inv Trust, Johnson Matthey, Majestic Wine, SABMiller
Link to article.
BOOK OF THE WEEK By Jeffrey Tennant
A book review by Aaron Padgham of t1ps.com A brand new and exclusive tool from trading the Standard and Poor's 500 Index, the MEJT system allows traders to make predictions over future support and resistance levels based on price actions over certain points in the day. The system - whose name derives from the initials of its two creators - also defines which trends may have a staying power and which ones should retrace. MEJT is however different from most other technical analysis tools in the sense that the system only applies to the S&P; it cannot be used with other indices nor foreign exchange and commodities. As author Jeffrey Tennant writes "give the MEJT system the right environment and it blossoms".
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ALTERNATIVE BET OF THE WEEK Your local betting shop may be great for the footie, but you must go online for the truly weird bets.
This week: London 2012 ends tonight. Rio is next in 2016. But which city will play host in 2020?
Singles Only. Applies to the city that has the winning bid to host the 2020 summer Olympic Games.
| Tokyo | 4/7 | | Istanbul | 3/1 | | Madrid | 3/1 |
Regards,
ShareCrazy
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