The Week Ahead: Will Mark Carney have to pen his first letter to the Chancellor?

 

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The Independent Online

Will Mark Carney have to pen his first letter to the Chancellor this week? October’s inflation figures are out tomorrow and economists are divided as to whether the figure will dip below the 1 per cent threshold at which the Bank of England Governor must write to George Osborne to explain why it has missed the 2 per cent target by such a margin.

Northland Capital Partners are banking on a letter given the squeeze on supermarket prices, while Investec predict the figure will be unchanged at 1.2 per cent with the threshold likely to be crossed “early next year”.

Diploma has finals today and Latchways, Mitie and Software Radio Technology have interim results. Bodycote, Keller and Kentz are due to put out a management statement.

Tomorrow will see finals from Enterprise Inns and easyJet. Numis expects the budget airline will report a pre-tax profit of £579m, compared to £478m last year. EasyJet raised profit forecasts last month after a strong summer and a boost from an Air France strike.

B&M European Retail, British Land, Entertainment One, Halma, Homeserve, Intermediate Capital, UK Mail and Vectura have interim figures and Pace has a trading statement. Management at Balfour Beatty, BBA Aviation, Cineworld, Headlam, Paddy Power, Polypipe, Prudential and Smiths Group will update investors.

Avon Rubber and Optos have full-year figures mid-week, while Big Yellow, ICAP, Royal Mail and Telecom Plus have half-year numbers. Investors will be looking for reassurance from Royal Mail amid concerns over increasing competition in the lucrative parcel market and a squeeze on margins. An update on potential further property sales and cost cutting measures would also be welcome.

Intertek, Amlin, Chesnara, Dialight, Exova Group, Melrose and Ultra Electronics have trading statements.

Euromoney, Grainger and UDG have finals on Thursday. Interims are due from Babcock, Dart Group, Investec, Johnson Matthey, Mothercare, QinetiQ and Young’s & Co. Centrica and Close Brothers have trading updates.

The week ends with finals from Future and interim figures from Fuller, Smith & Turner.

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