The Week Ahead: Wincanton's famous friends drive growth
Monday 12 November 2012
Logistics management might not get everyone excited, but with recent work won from the retailers Morrison's and B&Q as well as Rolls-Royce, Wincanton is certainly driving growth. Today investors will be hoping to hear that there is a steady road ahead at its first-half results.
Numis Securities scribes, who advise the company, think earnings will come in at £23.5m, up from £22.3m a year ago.
Numis's Steve Woolf said: "The net debt position remains key to sentiment, but following investment in the network we expect a modest increase on the year-end position of £115m."
Results/Updates: Agriterra, Carr's Milling Industries, Lonmin, Aveva, Entertainment One, Latchways, Bovis Homes, Catlin, Cobham, Interserve, Taylor Wimpey, Dignity, Kingspan, Latchways, Emed Mining Public.
Have you seen the latest Bond film yet? Canaccord Genuity scribblers think the release last month of Skyfall has helped the UK box-office sector to rebound after a tough year. The first weekend exceeded the £20m level, and it is now the second highest opening weekend ever recorded in the UK. Canaccord's Wayne Brown gives Cineworld's shares a buy rating and a target share price of 280p, while Numis Securities' Douglas Jack thinks other potential blockbusters in the fourth quarter, including Breaking Dawn and The Hobbit, will also help. Tomorrow investors will be hoping the third-quarter trading update will show that figures for September and October will contrast with the weak July-September admissions figures.
Only Panmure Gordon has a sell rating on the stock, believing that the Bond boost may come too late.
Results/Updates: Hibu, Norcros, Oxford Instruments, Synergy Health, TalkTalk Telecom, Trifast, Vodafone, Workspace, Afren, Capita, Cineworld, CRH, Drax, ITV, Johnston Press, Persimmon, Petra Diamonds.
Last week was "retail week", with a raft of updates from the majors. But on Wednesday the focus returns to shopping, with the mobile phones group Carphone Warehouse and the supermarket Sainsbury's. Carphone Warehouse is expected to report a brighter outlook for Europe at its half-year results than it has in the past. The Bank of America Merrill Lynch analyst Richard Chamberlain thinks Carphone looks "more attractively valued now on a sum-of-the-parts basis. The results should highlight a stronger outlook for … Europe business and the share price is likely to be supported by a potential change in Best Buy's ownership structure." He gave the shares a target price of 185p up from 155p.
Results/Updates: United Drug, Blinkx, Great Portland Estates, Icap, Sainsbury, Speedy Hire, SSE, Centamin Egypt, New World Resources, Amec, Cape, Centaur Media, Kier, moneysupermarket.com, Pace, Prudential, Serco, SIG, Tullow Oil, Wilmington, Safestore Holdings.
Investors will want to know if there will be a recovery for the engineer WS Atkins in the second half of the year in the Middle East. They will also hope the US business has stabilised and will question whether growth momentum in the UK can continue. The Numis analyst Will Wallis said he remains "cautious given concerns about estimate momentum".
Results/Updates: Euromoney, 3i Group, Invensys, Investec, National Grid, Antofagasta, Amlin, BBA Aviation, Centrica, Derwent London, Lavendon, Hill & Smith, Huntsworth, Keller, Premier Oil, Resolution, Rexam, STV, Tarsus, Ted Baker, Unite, UTV.
Last week the London Stock Exchange got the go-ahead from French regulators for its LCH.Clearnet takeover. The LSE expects the deal will be "transformative for its business". Peter Lenardos, analyst at RBC Capital Markets, gave the exchange's shares an outperform rating with a price target of 1,200p. Numis Securities' James Hamilton expects capital markets volumes to have remained weak, but "the LSE has maintained its market share in its core markets". Investors will be hoping the LSE outlines further plans for growth.
Results/Updates: Castings, Record, Bodycote, IMI, Kentz Corporation, London Stock Exchange, Rotork, Ultra Electronics, Melrose, Serco, Headlam.
UK Inflation Report hearings, Rics House Price Balance.
Consumer Price Index, Producer Price Index, Retail Price Index, Bank of England Inflation Letter, French non-farm payrolls, US Federal Budget Balance, Treasury Currency Report.
UK claimant count change, unemployment rate, Average Earnings Index, Bank of England Governor Mervyn King speaks, Bank of England Inflation Report, US core retail sales, Federal Open Market Committee meeting minutes and US business inventories.
UK retail sales, 30-year bond auction, ECB monthly bulletin, US Fed chairman Ben Bernanke speaks, US unemployment claims.
EU current account and trade balance update, US industrial production update.
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