The Week Ahead: Patently, it's all in the name for RWS
Monday 10 June 2013
In a world obsessed with brand names and logos the patents and trademarks business is booming. One outfit that specialises in patent translation and searching is expected to report another solid set of results today. RWS last month bought PharmaQuest for £2.3m and has been expanding its intellectual property support services to gain market share across Europe. At its trading update back in April it guided that sales are around £36.5m. Its house broker, Numis' Will Wallis thinks the group remains well positioned to benefit from continued growth in patent filing and he sees "no reason for a change in recent trading trends". The shares were up nearly 6 per cent on Friday in anticipation of today's interim results.
Results/Updates: Immunodiagnostic Systems, Green Dragon Gas Latchways, Globo, RWS Holdings, Zambeef Products, Falkland Islands Holdings, Great Eastern Energy Corporation.
Tomorrow will be dominated by house prices when the Royal Institution of Chartered Surveyors (RICS) publishes the details of its May housing survey. April's seasonally-adjusted outcome was in positive territory for the first time since June 2010, albeit only marginally at +1 per cent. But experts think the positive direction will continue into May. There are also signs that the first time buyer market has finally opened up. Reports last week found first-time buyer numbers rose 15 per cent in April, due to record low rates and a wider choice of mortgages –all good news for house builders.
Results/Updates: Pressure Technologies, Gooch & Housego, Oxford Instruments, Workspace Group, CML Microsystems, Carclo, Eckoh, Energy Assets Group, Vianet, Record, Park Group, Charles Stanley Group.
The performance of the big supermarkets is closely watched and after Tesco's grilling last week comes Sainsbury's on Wednesday. It has been successfully growing market share while diversifying into non-grocery areas. But it is now facing a tough trading period ahead. Analysts expect the last four weeks of the 12 week period that it will report – its first quarter – will show signs of a slowdown. Guidance for like-for-like sales is between 1-1.5 per cent in the financial year to mid-March 2014. Analysts predict 8 per cent earnings growth in the current financial year. But despite the tough comparables, the country's third largest grocer is expected to report a sales and market share performance that will still beat its peers.
Results/Updates: Castings, Picton Property Income, Hyder Consulting, Creston, ASOS, Sainsbury, WPP Group.
The fake tan to soap maker PZ Cussons will give a trading statement on Thursday and, although its signing of Kate Moss as the face of its St Tropez fake tan brand won column inches in the media last month, investors only want to know about one thing: Nigeria. The group has suffered at the hands of civil unrest in the country. A state of emergency was recently declared in three northern states, but PZ's operations in the south of the country have been holding up. Investors will be keen to hear more on this.
Results/Updates: Atkins, CareTech, Consort Medical, Halma, Mulberry, Nor-cros, Redhall Group, Halma, Wincanton, PZ Cussons, Home Retail, WH Smith.
Specialist asset management group Polar Capital plans to launch its £100m Polar Capital Global Financials Trust on the London Stock Exchange later this month, which will focus on the equity, debt and other securities of listed financial stocks. Ahead of this latest launch, Polar is expected to report final results in line with expectations on Friday. Last month broker Canaccord Genuity awarded the group a buy recommendation and raised its target price to 450p while analysts at Numis were slightly more cautious and rate it a hold with a 400p price target.
Results/Updates: Polar Capital, Ensor Holdings.
German wholesale price index, French and Italian industrial production and retail sales.
Royal Institution of Chartered Surveyors (RICS) House Price Balance, 10 and 30 year bond auctions, UK industrial and manufacturing production, National Institute of Economic and Social Research GDP estimate, EU German Constitutional Court Ruling, Swiss State Secretariat for Economic Affairs Economic Forecasts, US Small business index and wholesale inventories.
UK unemployment data, average weekly earnings and US Federal Budget Balance.
ECB Monthly Bulletin, US business inventories, core retail sales and US unemployment claims.
UK construction output, G8 Meetings.
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