Business Information Service: This week
Sunday 01 August 1993
BBA's automotive and aviation divisions will have faced difficult trading conditions in the first half, though analysts foresee improved demand in the UK and US industrial businesses. Interim pre-tax profits of pounds 36m ( pounds 33m) are forecast.
TUESDAY: The Franco-German economic meeting, cancelled by the Germans earlier this month, is rescheduled for today, although pressure on the ERM may force postponement.
Provisions at National Westminster should fall to pounds 780m in the first half, against pounds 864m last time. Interim pre-tax profits are forecast to rise by almost 50 per cent to pounds 307m after pounds 170m of exceptional costs for redundancies and the closure of the French operations.
UK official reserves for July are expected to record an underlying rise of pounds 100m, suggesting little or no intervention in the foreign exchange market by the Bank of England.
US leading economic indicators for June are forecast to record a 0.1 per cent rise after falling by 0.3 per cent in May.
WEDNESDAY: The predicted 4 per cent downturn to pounds 62.5m in interim profits at GKN can be attributed largely to redundancy costs.
Interim profit progress at Glynwed, the consumer and building products group, will largely stem from cost cutting. Analysts anticipate a 14 per cent rise to pounds 17.5m.
THURSDAY: First-half results from Barclays should see pre- tax profits rising to pounds 233m from pounds 51m. The provision charge should fall to pounds 1.05bn.
Both BP and Shell report second-quarter results. After making an pounds 812m loss in the same period in 1992, BP should make replacement cost profits of between pounds 180m and pounds 250m. Shell is expected to lift its replacement cost profits by some 45 per cent to pounds 750m.
T Cowie will benefit both from the recovery in UK new car sales and lower interest rates. Analysts expect a 20 per cent increase in interim pre-tax profits to pounds 14.5m.
A good performance by Kleinwort Benson's treasury and securities divisions will help bump up its interim profits by around 81 per cent to pounds 38m.
First-half figures from TI Group should be boosted by around pounds 20m from Dowty, acquired last July. TI is expected to post a 25 per cent profit increase to about pounds 63m.
Reed-Elsevier will announce its first interim results since the merger.
FRIDAY: US unemployment data for July should show that the civilian rate is steady at 7 per cent. But it is a different story in Germany. Seasonally adjusted unemployment in the west is predicted to rise by 30,000, after the 29,000 jump in June.
Results: NatWest Securities. Median economic forecasts: MMS International.
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- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
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