Market Report: UK manufacturers eye growth hat-trick

Today

The nascent march of the makers tops the bill today in a quiet start to the week for City updates. The attention will be on the release of the latest manufacturing purchasing managers' survey. Economists are expecting activity to have expanded for the third straight month – the first time this would have happened since the first quarter of 2012. IHS Global Insight's Howard Archer predicts an improvement to 51.5 for June, after it rose to 51.3 in May.

Results/Updates: No major updates due.

Tomorrow

Persimmon unveils a trading statement tomorrow, and the housebuilder will offer a "robust" outlook, predicts Glynis Johnson from Deutsche Bank, who says that "strong reservations and margin progression may drive upside to consensus estimates". When Persimmon last updated the market back in April it said selling rates had risen year on year by around 4 per cent over the first 15 weeks of 2013, and Johnson suggests that since then the Government's Help to Buy scheme will have driven "a significant pick up in reservations".

The Jacamo and Simply Be online retailer N Brown will also be in the spotlight tomorrow when it releases its latest update at the same time as holding its AGM in Manchester in what will be new boss Angela Spindler's first appearance in front of investors. Back in April the company said like-for-like sales over the first seven weeks of the financial year had risen by 6.1 per cent, and Andrew Wade from Numis Securities predicts that – partly thanks to the better recent weather – this could have improved.

Results/Updates: Anite, N Brown, Ocado, Persimmon, St Modwen Properties.

Wednesday

Investors waiting for a flow of oil from the explorer Tullow Oil may have to make do with a strong flow of news. Punters are awaiting results from its Sabisa-1 well, a resource upgrade in Kenya, as well as progress with developments in Ghana and Uganda. RBC Capital's analysts think its third-quarter trading statement on Wednesday will be encouraging, and they say the "lowly" share price is undervaluing what is to come for the Africa-focused group. RBC predicts expect healthy earnings of $250m (£165m) and suggest there could be a 4p increase in the interim dividend but that Tullow may also wait for any increase to take place after it completes the sale of its Southern North Sea portfolio and a stake in the off-shore Ghanaian TEN complex.

Results/Updates: Carillion, Tullow Oil.

Thursday

Taylor Wimpey is also set to confirm improving market conditions when it updates on trading. The housebuilder has seen rising reservations as government stimulus drives a housing market recovery. By April its total order book was up 18 per cent to £1.2bn over the same time in 2012, with prices and margins improving. Private reservations were up to 0.67 sales per outlet, from 0.62 per outlet a year earlier, with growth led by the buoyant London and the South-east markets.

Analysts expect the builder to report more growth – and Citigroup believes it could even be close to returning money to shareholders. They said: "We expect the group to continue to make good progress with margins and see recent sales rates boosted by the easing mortgage market. Capital return remains a possibility at some point – its balance sheet remains strong with net debt of only about £195m reported at the end of March."

Keith Bowman at Hargreaves Lansdown added: "Unlike Persimmon, and with the company having endured the credit crisis in a more challenged condition than its rival, and therefore with a full recovery potentially still at an earlier stage, consensus analyst opinion remains positive in tone."

Results/Updates: Taylor Wimpey, NCC, Low and Bonar, Dunelm.

Friday

Results/Updates: No major updates due.

Economics Diary

Today

Hometrack housing survey; Cips purchasing managers index manufacturing; Bank of England mortgage approvals; Bank of England consumer credit.

Tomorrow

Cips purchasing managers' index, construction.

Wednesday

Cips purchasing managers' index, services; British Retail Consortium shop prices; Bank of England Monetary Policy Committee meeting.

Thursday

Bank of England MPC's interest rate decision; Lloyds employment confidence; Bank of England asset purchase target; New car registrations.

During the week Halifax house prices.

Suggested Topics
Start your day with The Independent, sign up for daily news emails
Voices
There will be a chance to bid for a rare example of the SAS Diary, collated by a former member of the regiment in the aftermath of World War II but only published – in a limited run of just 5,000 – in 2011
charity appealTime is running out to secure your favourite lot as our auction closes at 2pm today
News
File: James Woods attends the 52nd New York Film Festival at Walter Reade Theater on September 27, 2014
peopleActor was tweeting in wake of NYPD police shooting
Sport
Martin Skrtel heads in the dramatic equaliser
SPORTLiverpool vs Arsenal match report: Bandaged Martin Skrtel heads home in the 97th-minute
News
Billie Whitelaw was best known for her close collaboration with playwright Samuel Beckett, here performing in a Beckett Trilogy at The Riverside Studios, Hammersmith
people'Omen' star was best known for stage work with Samuel Beckett
PROMOTED VIDEO
ebooks
ebooksA year of political gossip, levity and intrigue from the sharpest pen in Westminster
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Carlton Senior Appointments: Private Banking Manager - Intl Bank - Los Angeles

$200 - $350 per annum: Carlton Senior Appointments: Managing Producer – Office...

Carlton Senior Appointments: San Fran - Investment Advisor – Ind Advisory Firm

$125 - $225 per annum: Carlton Senior Appointments: San Fran - Investment Advi...

Sheridan Maine: Commercial Finance Manager

Up to £70,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...

Sheridan Maine: Regulatory Reporting Accountant

Up to £65,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...

Day In a Page

Surrounded by high-rise flats is a little house filled with Lebanon’s history - clocks, rifles, frogmen’s uniforms and colonial helmets

Clocks, rifles, swords, frogmen’s uniforms

Surrounded by high-rise flats is a little house filled with Lebanon’s history
Return to Gaza: Four months on, the wounds left by Israel's bombardment have not yet healed

Four months after the bombardment, Gaza’s wounds are yet to heal

Kim Sengupta is reunited with a man whose plight mirrors the suffering of the Palestinian people
Gastric surgery: Is it really the answer to the UK's obesity epidemic?

Is gastric surgery really the answer to the UK's obesity epidemic?

Critics argue that it’s crazy to operate on healthy people just to stop them eating
Homeless Veterans appeal: Christmas charity auction Part 2 - now LIVE

Homeless Veterans appeal: Christmas charity auction

Bid on original art, or trips of a lifetime to Africa or the 'Corrie' set, and help Homeless Veterans
Pantomime rings the changes to welcome autistic theatre-goers

Autism-friendly theatre

Pantomime leads the pack in quest to welcome all
The week Hollywood got scared and had to grow up a bit

The week Hollywood got scared and had to grow up a bit

Sony suffered a chorus of disapproval after it withdrew 'The Interview', but it's not too late for it to take a stand, says Joan Smith
From Widow Twankey to Mother Goose, how do the men who play panto dames get themselves ready for the performance of a lifetime?

Panto dames: before and after

From Widow Twankey to Mother Goose, how do the men who play panto dames get themselves ready for the performance of a lifetime?
Thirties murder mystery novel is surprise runaway Christmas hit

Thirties murder mystery novel is surprise runaway Christmas hit

Booksellers say readers are turning away from dark modern thrillers and back to the golden age of crime writing
Anne-Marie Huby: 'Charities deserve the best,' says founder of JustGiving

Anne-Marie Huby: 'Charities deserve the best'

Ten million of us have used the JustGiving website to donate to good causes. Its co-founder says that being dynamic is as important as being kind
The botanist who hunts for giant trees at Kew Gardens

The man who hunts giants

A Kew Gardens botanist has found 25 new large tree species - and he's sure there are more out there
The 12 ways of Christmas: Spare a thought for those who will be working to keep others safe during the festive season

The 12 ways of Christmas

We speak to a dozen people who will be working to keep others safe, happy and healthy over the holidays
Birdwatching men have a lot in common with their feathered friends, new study shows

The male exhibits strange behaviour

A new study shows that birdwatching men have a lot in common with their feathered friends...
Diaries of Evelyn Waugh, Virginia Woolf and Noël Coward reveal how they coped with the December blues

Famous diaries: Christmas week in history

Noël Coward parties into the night, Alan Clark bemoans the cost of servants, Evelyn Waugh ponders his drinking…
From noble to narky, the fall of the open letter

From noble to narky, the fall of the open letter

The great tradition of St Paul and Zola reached its nadir with a hungry worker's rant to Russell Brand, says DJ Taylor
A Christmas ghost story by Alison Moore: A prodigal daughter has a breakthrough

A Christmas ghost story by Alison Moore

The story was published earlier this month in 'Poor Souls' Light: Seven Curious Tales'