The week ahead: House prices put focus on builders

Today

This week housebuilders take centre stage from the retailers who dominated last week. There are still a few retailers in the pipeline but it's time to concentrate on house prices. Last week Persimmon, Galliford Try and Bellway Homes told us that new homes are still being snapped up despite a drop in house prices and this week Taylor Wimpey, Barratt and Bovis Homes give us their take. Taylor Wimpey had a good 2012 – shares jumped more than 80 per cent since the start of January last year and Panmure Gordon rates them a hold.

Results/Updates: Greene King, Evraz.

Tomorrow

The luxury goods sector has our attention tomorrow when British brand Burberry tells us how trading is going. The group's shares had a bumpy ride last year. They lost nearly 20 per cent in September after a profits warning and fears of a slowdown from lucrative Chinese shoppers. But the shares picked up in November when it issued forecast-beating results. Analysts at Nomura think Burberry is "one of the highest return-on-capital operators within the luxury space" and they think it still has plenty of scope for global expansion. Investors used to view the brand as expensive in valuation terms but Nomura's followers of fashion think that now the group is trading at 17 times its March 2014 estimates it is "beginning to drive a more attractive valuation of the shares". Nomura predicts it will report a small uptick in sales with revenues at £599m in the third quarter, up 4.3 per cent on a year-on-year comparative basis.

Results/Updates: Ashmore, Charlemagne Capital, Energy Assets Group, Dragon Oil, Halfords, Intermediate Capital Group, IG Group, Michael Page, Ocado, Rio Tinto, Smiths News, Spirit Pub Group.

Wednesday

After Greene King's update today, and Spirit Group's tomorrow, we can carry on contemplating pubs on Wednesday when it is JD Wetherspoon's turn to update the market. Liberum Capital's Patrick Coffey is buying a round at Greene King but calling time at Wetherspoon. He likes Greene King's London exposure and food-led growth and he rates it a buy with a 709p target price. But Wetherspoon's is a sell, with a 449p share-price target as Mr Coffey is concerned about "margin-pressure, high-street footfall decline, high-operational gearing" and its focus on drinks, rather than food. More than 60 per cent of the analysts who cover Wetherspoon's rate the stock a hold, so a weak update on Wednesday will push more toward recommending selling.

Results/Updates: Barratt Developments, Bloomsbury Publishing, N Brown, Diploma, Ebiquity, Experian, C&C Group, Fenner, Jupiter Fund Management, Majedie Investments, Stobart Group.

Thursday

African Barrick Gold's shares were hammered last week when talks between parent company Barrick Gold to sell its 75 per cent stake to China National Gold ended. Shares fell 20 per cent. Bank of America Merrill Lynch thinks the sell-off has been overdone and the "valuation is too cheap", adding that in the long term there is scope for mergers and acquisition growth. On Thursday it posts fourth-quarter numbers which Bank of America thinks will be an improvement on the previous quarter.

Results/Updates: Associated British Foods, Aberdeen Asset Management, Asos, Booker Group, Computacenter, Dixons Retail, Home Retail Group, Mothercare, NCC, Premier Oil.

Friday

Analysts expect Bovis Homes to report strong levels of new sites for housebuilding and analysts at Panmure Gordon rate it a buy with a share-price target of 622p. Results/Updates: Record.

Economics Diary

Today

Royal Institution of Chartered Surveyors House Price Balance

Tomorrow

Bank of England Inflation Letter, Consumer Price Index, PPI Input, Retail Price Index, CB Leading Index.

Wednesday

UK Retail Sales, US Housing Market Index, US Crude Oil Inventories, US Beige Book.

Thursday

US Inflation Report Hearings, US Building Permits; US Unemployment Claims; US Housing Starts.

Friday

UK Retail Sales Index, 30-year, UK bond auction.

Start your day with The Independent, sign up for daily news emails
ebooks
ebooksAn introduction to the ground rules of British democracy
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
SPONSORED FEATURES
Independent Dating
and  

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

iJobs Job Widget
iJobs Money & Business

SThree: Experienced Recruitment Consultant

£20000 - £40000 per annum + OTE + Incentives + Benefits: SThree: Established f...

SThree: Trainee Recruitment Consultant

£20000 - £25000 per annum + OTE 40/45k + INCENTIVES + BENEFITS: SThree: The su...

Recruitment Genius: Collections Agent

£14000 - £16000 per annum: Recruitment Genius: This company was established in...

SThree: Trainee Recruitment Consultant

£20000 - £25000 per annum + OTE 40k: SThree: SThree are a global FTSE 250 busi...

Day In a Page

Refugee crisis: David Cameron lowered the flag for the dead king of Saudi Arabia - will he do the same honour for little Aylan Kurdi?

Cameron lowered the flag for the dead king of Saudi Arabia...

But will he do the same honour for little Aylan Kurdi, asks Robert Fisk
Our leaders lack courage in this refugee crisis. We are shamed by our European neighbours

Our leaders lack courage in this refugee crisis. We are shamed by our European neighbours

Humanity must be at the heart of politics, says Jeremy Corbyn
Joe Biden's 'tease tour': Could the US Vice-President be testing the water for a presidential run?

Joe Biden's 'tease tour'

Could the US Vice-President be testing the water for a presidential run?
Britain's 24-hour culture: With the 'leisured society' a distant dream we're working longer and less regular hours than ever

Britain's 24-hour culture

With the 'leisured society' a distant dream we're working longer and less regular hours than ever
Diplomacy board game: Treachery is the way to win - which makes it just like the real thing

The addictive nature of Diplomacy

Bullying, betrayal, aggression – it may be just a board game, but the family that plays Diplomacy may never look at each other in the same way again
Lady Chatterley's Lover: Racy underwear for fans of DH Lawrence's equally racy tome

Fashion: Ooh, Lady Chatterley!

Take inspiration from DH Lawrence's racy tome with equally racy underwear
8 best children's clocks

Tick-tock: 8 best children's clocks

Whether you’re teaching them to tell the time or putting the finishing touches to a nursery, there’s a ticker for that
Charlie Austin: Queens Park Rangers striker says ‘If the move is not right, I’m not going’

Charlie Austin: ‘If the move is not right, I’m not going’

After hitting 18 goals in the Premier League last season, the QPR striker was the great non-deal of transfer deadline day. But he says he'd preferred another shot at promotion
Isis profits from destruction of antiquities by selling relics to dealers - and then blowing up the buildings they come from to conceal the evidence of looting

How Isis profits from destruction of antiquities

Robert Fisk on the terrorist group's manipulation of the market to increase the price of artefacts
Labour leadership: Andy Burnham urges Jeremy Corbyn voters to think again in last-minute plea

'If we lose touch we’ll end up with two decades of the Tories'

In an exclusive interview, Andy Burnham urges Jeremy Corbyn voters to think again in last-minute plea
Tunisia fears its Arab Spring could be reversed as the new regime becomes as intolerant of dissent as its predecessor

The Arab Spring reversed

Tunisian protesters fear that a new law will whitewash corrupt businessmen and officials, but they are finding that the new regime is becoming as intolerant of dissent as its predecessor
King Arthur: Legendary figure was real and lived most of his life in Strathclyde, academic claims

Academic claims King Arthur was real - and reveals where he lived

Dr Andrew Breeze says the legendary figure did exist – but was a general, not a king
Who is Oliver Bonas and how has he captured middle-class hearts?

Who is Oliver Bonas?

It's the first high-street store to pay its staff the living wage, and it saw out the recession in style
Earth has 'lost more than half its trees' since humans first started cutting them down

Axe-wielding Man fells half the world’s trees – leaving us just 422 each

However, the number of trees may be eight times higher than previously thought
60 years of Scalextric: Model cars are now stuffed with as much tech as real ones

60 years of Scalextric

Model cars are now stuffed with as much tech as real ones