The two state-backed lenders kick-off reporting season for the banks this week, with Lloyds delivering first quarter figures on Thursday and Royal Bank of Scotland following suit a day later.
Analysts are expecting few surprises from either – Ed Salvesen at Brewin Dolphin advises investors to look out for any changes to PPI provisions at Lloyds, while any news from both on the progress of the Government’s stake sales will be welcomed.
Elsewhere it’s a busy week for corporate news, kicking off in earnest on Tuesday with finals from Costa and Premier Inn owner Whitbread. Wyn Ellis at Numis predicts a pre-tax profit of £404.6m, up from £356.5m in 2012.
Tuesday also brings first quarter figures from BP, Aberdeen Asset Management, wealth manager St James’s Place and insurer Jardine Lloyd Thompson. Transport group Stagecoach, and Carphone Warehouse, will also report on trading – Carphone shareholders will be looking for news on its planned merger with Dixons, which Phones4U has been trying to gatecrash.
The initial estimate for GDP growth in the first three months of the year will also come in, with the figure expected to be slightly ahead of the 0.7 per cent increase recorded at the end of last year.
Come mid-week, Argos and Homebase owner Home Retail Group will publish its full year figures. Wednesday also sees management statements from British American Tobacco, GlaxoSmithKline, Greggs, Ladbrokes, Next, Playtech and Tullow Oil. Greene King and Standard Life will also update on trading; miners Antofagasta and Kazakhmys will have first quarter production figures.
Catalogue retailer N Brown has 2013 figures out on Thursday, while oil and gas explorer BG, transport group Go-Ahead, Millennium & Copthorne Hotels, BSkyB, Rolls-Royce, Schroders, Smith & Nephew, Weir and Wolfson Microelectronics all talk about how business has been in the recent quarter.
Turning to Friday, Direct Line and InterContinental Hotels will update the market, as will pest control specialist Rentokil Initial.Reuse content