The Week Ahead: Orders shortfall may dim Aggreko

 

Today

Are investors in Aggreko ready for some power outages for the share price? The temporary power provider will update the market on its third-quarter results today, and analysts expect some problems in the short term.

RBC Capital’s Andrew Brooke warns that it is experiencing a “slow order intake in power projects”, and it “factors in a slowing of the local business” as well as no new large events, while all of its military and Japan business will “drop out next year”. Mr Brooke thinks earnings per share could fall to below 70p. Numis points out that this quarter is normally the weakest for new contract wins, so it is unlikely we will get positive news. Mr Brooke expects short-term cashflow forecasts to remain intact due to lower capital expenditure, and his medium-term assumptions are unchanged despite the short-term problems.

Results/updates: Aggreko, Volex.

Tomorrow

The wider public may never forgive BP for its Mexican oil spill disaster but analysts have hoped it would become a bit more risky when it comes to the widening of its exploration programme. Analysts at Barclays note that the oil giant has already “diversified geographically beyond its previous heartlands” into areas such as Australia, Brazil, Nova Scotia, Libya and Uruguay, which is a sign management is prepared to take on “more geological risk”. But this risk isn’t quite enough for the City. Barclays experts think much of its recovery is from the Gulf of Mexico volumes rather than a better upstream portfolio. They admit its doubling of exploration spend in the past three years has helped BP reverse its underperformance but they still rate it underperform ahead of its third-quarter update tomorrow. The update comes ahead of rivals Shell and BG on Thursday. Analysts at JP Morgan Cazenove expect BP’s third-quarter earnings to reach £2.1bn, with earnings per share up 23 per cent quarter on quarter. But they rate the shares a hold because of uncertainties on further Macondo costs.

Results/Updates: Braemar Shipping Services, BP, Dragon Oil, Glanbia, Lloyds Banking Group, National Express, Playtech, Standard Chartered, Wolfson Microelectronics.

Wednesday

Time for Standard Life give an update on the insurance market. Analysts at JP Morgan Cazenove think its “new-style” UK business will treble earnings to £262m by 2015, and they reckon it has both top-line and bottom-line growth to come. Investors will also be awaiting future cash dividends. JP thinks there is £800m of excess capital at the holding company and £300m at Canadian operations.

Results/Updates: Advanced Computer Software, African Barrick Gold, Barclays, C&C Group, Genel Energy, Kerry Group, Sportech, Standard LIfe.

Thursday

Feeling peckish? It is time for Premier Foods to step up with its trading update on Thursday. The owner of Mr Kipling cakes and Hovis bread has a new finance chief who joined from Dairy Crest. Analysts at Shore Capital said the key to the turnaround of the business is its balance-sheet re-engineering, which “is critical to Premier’s future”, but they welcomed the appointment of Alastair Murray. Shore believes a major capital raising is needed.

Results/Updates: Afren, Antofagasta, AstraZeneca, Avocet Mining, BG, Colt, Countrywide, Croda International, Glencore Xstrata, Henderson Group, Premier Foods, Royal Dutch Shell, Smith & Nephew, Stagecoach.

Friday

While this week is mainly a banking week with both Barclays and Royal Bank of Scotland to update, Friday is also a day for RBS spin-off Direct Line to show what a good job it has been doing of selling car insurance. Numis expects the nine-month operating profit from continuing operations to be £414m. It outperformed the market in the first half and Numis thinks this third-quarter update on Friday will “overall read well”. It reckons it has “good scope for self-help earnings upside and potential future capital return”.

Results/Updates: Berendsen, Direct Line Insurance, F&C Asset Management, Meggitt, Royal Bank of Scotland.

Economics Diary

Today

Hometrack housing survey, CBI reported sales, Nationwide house prices.

Tomorrow

Net consumer credit, Net lending secured on dwellings, Mortgage approvals, M4 money supply.

Wednesday

US ADP employment and US consumer price index.

Thursday

GfK consumer confidence, US weekly jobless claims, EU challenger job cuts.

Friday

Purchasing managers’ index – manufacturing, US motor vehicle sales.

Sport
A 'Sir Alex Feguson' tattoo
football

Arts and Entertainment
Liam Neeson said he wouldn't
tv

Liam Neeson's Downton dreams

Voices
voicesApple continually kill off smaller app developers, and that's no good for anyone
Voices
On the last day of campaigning before the polling booths open, the SNP leader has written to voters in a final attempt to convince them to vote for independence
voicesIs a huge gamble on oil keeping the First Minister up at night?
PROMOTED VIDEO
Arts and Entertainment
Ben Whishaw is replacing Colin Firth as the voice of Paddington Bear
tv

Thriller is set in the secret world of British espionage

Life and Style
life

News
ScienceGallery: Otherwise known as 'the best damn photos of space you'll see till 2015'
Travel
travelWhy Japan's love hotels are thriving through an economic downturn
Life and Style
fashion

Bomber jacket worn by Mary Berry sells out within an hour

Life and Style
Alexander McQueen A/W 2014
fashionPolitics aside, tartan is on-trend again this season
News
ebooksAn unforgettable anthology of contemporary reportage
Arts and Entertainment
Rapper Jay Z performs on the Pyramid Stage at Glastonbury in 2008
musicSinger sued over use of the single-syllable sample in 'Run This Town'
Sport
Joel jumps over the board...and into a giant hole
footballFrom joy to despair in a matter of seconds
News
i100
Arts and Entertainment
Pointless host Alexander Armstrong will voice Danger Mouse on CBBC
tv

Much-loved cartoon character returns - without Sir David Jason

Arts and Entertainment
Meera Syal was a member of the team that created Goodness Gracious Me
tv

Actress to appear in second series of the hugely popular crime drama

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

SQL Developer - Watford/NW London - £320 - £330 p/d - 6 months

£320 - £330 per day: Ashdown Group: The Ashdown Group have been engaged by a l...

Head of Audit

To £75,000 + Pension + Benefits + Bonus: Saxton Leigh: My client is looking f...

Audit Manager Central Functions

To £85,000 + banking benefits: Saxton Leigh: You will be expected to carry out...

Credit Risk Audit Manager

Up to £90,000 + benefits: Saxton Leigh: Credit Risk Audit Manager required to ...

Day In a Page

Mystery of the Ground Zero wedding photo

A shot in the dark

Mystery of the wedding photo from Ground Zero
His life, the universe and everything

His life, the universe and everything

New biography sheds light on comic genius of Douglas Adams
Save us from small screen superheroes

Save us from small screen superheroes

Shows like Agents of S.H.I.E.L.D are little more than marketing tools
Reach for the skies

Reach for the skies

From pools to football pitches, rooftop living is looking up
These are the 12 best hotel spas in the UK

12 best hotel spas in the UK

Some hotels go all out on facilities; others stand out for the sheer quality of treatments
These Iranian-controlled Shia militias used to specialise in killing American soldiers. Now they are fighting Isis, backed up by US airstrikes

Widespread fear of Isis is producing strange bedfellows

Iranian-controlled Shia militias that used to kill American soldiers are now fighting Isis, helped by US airstrikes
Topshop goes part Athena poster, part last spring Prada

Topshop goes part Athena poster, part last spring Prada

Shoppers don't come to Topshop for the unique
How to make a Lego masterpiece

How to make a Lego masterpiece

Toy breaks out of the nursery and heads for the gallery
Meet the ‘Endies’ – city dwellers who are too poor to have fun

Meet the ‘Endies’ – city dwellers who are too poor to have fun

Urbanites are cursed with an acronym pointing to Employed but No Disposable Income or Savings
Paisley’s decision to make peace with IRA enemies might remind the Arabs of Sadat

Ian Paisley’s decision to make peace with his IRA enemies

His Save Ulster from Sodomy campaign would surely have been supported by many a Sunni imam
'She was a singer, a superstar, an addict, but to me, her mother, she is simply Amy'

'She was a singer, a superstar, an addict, but to me, her mother, she is simply Amy'

Exclusive extract from Janis Winehouse's poignant new memoir
Is this the role to win Cumberbatch an Oscar?

Is this the role to win Cumberbatch an Oscar?

The Imitation Game, film review
England and Roy Hodgson take a joint step towards redemption in Basel

England and Hodgson take a joint step towards redemption

Welbeck double puts England on the road to Euro 2016
Relatives fight over Vivian Maier’s rare photos

Relatives fight over Vivian Maier’s rare photos

Pictures removed from public view as courts decide ownership
‘Fashion has to be fun. It’s a big business, not a cure for cancer’

‘Fashion has to be fun. It’s a big business, not a cure for cancer’

Donatella Versace at New York Fashion Week