Tomorrow will be an historic day for the London Stock Exchange. It will begin to settle bargains on a 10-day rolling basis, instead of the traditional two or three-week account. Dealings begin in 3i, the venture capital group. The continuing improvement in the Government's finances is expected to be confirmed tomorrow, when the Public Sector Borrowing Requirement for June is published.
The Confederation of British Industry publishes its distributive trades survey for June, which will give an early indicator of how well retail sales are being maintained. SmithKline Beecham, the pharmaceuticals group, reports interim results expected to show an increase in profits from pounds 564m to pounds 635m.
Official retail sales figures for June could show a small rise on the month, but a lower annual rate of increase than May's 3.9 per cent. Provisional June money supply figures are expected to show little change, while the banks and building societies release their monthly tallies. Shareholders in Hollas Group, the textile company, are steeling themselves for news of a drop in profits from pounds 600,000 to as little as pounds 200,000. But David S Smith, the packaging group, should reveal a profits increase from pounds 27.1m to pounds 33.5m for the year to May.
Monthly figures for non-EU overseas trade in June should show a deficit of pounds 700m, against pounds 767m in May. Wellcome, the drugs company, announces half-year results, which should show a useful improvement on last year's pounds 358m interim profit.
Preliminary figures for Gross Domestic Product in the second quarter should show a modest rise.
Source: NatWest SecuritiesReuse content