The Week Ahead: City looks to improved trends in property sector

With house prices rising and the economy seemingly on the mend, the City is looking to news of improving trends from the property website Rightmove, which is due to post an interim management statement tomorrow.

Panmure Gordon expects the much improved outlook for Britain's property sector to feed through to a rise in the number of estate agency clients, while Numis is pegging its hopes on evidence of a "good uptake in both the premium 'Rightmove choice' products and the new display advertising products". Looking further out, Panmure said the recent string of positive updates from housebuilders pointed to gains as new homes are built.

"The consistent message is of an improved [profit outlook for the second half of 2010] and an enlarged land bank," the broker said. Those worried about competitive threats may also breathe easier, with Panmure pointing out that Rightmove's site traffic "remains very strong and there is no evidence of any diminution of market share".

Results/Updates: Aberdeen Asset Management, G4S and Standard Chartered.



Tomorrow

The information technology group Logica is expected to follow in the footsteps of its peers when it posts a first-quarter update. Panmure Gordon anticipates news of in-line trading and recovering margins, taking its cue from rivals Atos Origin and Tieto.

On the downside, the broker said negatives for Logica included the dragging effect of the Benelux region and the pre-election lull in the British public sector.

Panmure forecasts that Logica's group revenues will come in at £926.6m, down from £954m last year. "Logica's valuation is cheap and the UK election stands in the way of the (in our view) inevitable re-rating," Panmure said. It noted that the company should do well because the public sector "looks to outsourcing to reduce cost and 'do more for less' under the new government (of any hue)".

Also tomorrow, the City expects to hear of $169.8m in revenues when the computer chip-maker CSR issues its first-quarter results. Consensus forecasts also anticipate 5 cents in underlying diluted earnings per share.

Results/Updates: Lancashire, Logica, Next, Provident Financial, Rathbone Brothers, Sage, Rightmove, Antofagasta, CSR, Legal and General, Millennium and Copthorne Hotels and Prudential.



Thursday

The defence group Cobham will issue an interim management statement as voters pick the next government. Whatever the result, Execution Noble foresees cuts in defence spending, although it advises piling into Cobham rather than BAE Systems, which has a larger exposure to the UK. "The overall exposure to the UK is much lower for Cobham, at 10 per cent revenues and encompassing Cobham's lowest risk activities, compared to BAE, with 20 per cent exposure and encompassing BAE's higher risk activities," the broker said last week.

Also on Thursday, the FTSE 100-listed asset manager Schroders is due to post a first-quarter update. Numis expects the release to show evidence of progress towards its £172.1bn full-year assets under management forecast for the group. If achieved, this would represent growth in net flows of about 10 per cent.

Results/Updates: Morgan Sindall, Cobham, Costain, Wm Morrison, Randgold Resources, RSA Insurance, Schroders, Talvivaara Mining, Tomkins, Arriva, Diageo, Rexam and Vedanta Resources.



Friday

The Lloyd's of London insurer Catlin is due to post a first-quarter update. Despite Catlin's exposure to the Chilean earthquake, Numis expects the company to report a positive start to 2010, with "premium rates holding up better than originally anticipated and continued premium income growth from its international offices and US business". The broker said: "Catlin's initial Chile loss estimate of $140m could be susceptible to upward revision given that it was based on an industry loss at the lower end of the consensus range, although any change is unlikely to be reported before the first half results."

It added that elsewhere, Catlin might be exposed to losses connected to the oil rig disaster in the Gulf of Mexico. Also on Friday, ITV's interim management statement is expected to point to ongoing strength in advertising, with Numis citing "anecdotal evidence suggesting that the national market and ITV could be up 12 per cent in 2010".

"We have consistently indicated that our current forecast of a 2 per cent rise is conservative," Numis said.

Deutsche Bank was also upbeat, noting that even if the advertising market slows down in the aftermath of the election, momentum is such that the risk to earnings "remains on the upside". "All political parties are in favour of the removal of the remaining regulatory constraints on ITV," the broker added.

Results/Updates: Catlin, ITV, HSBC and Royal Bank of Scotland.

Voices
Numbers of complaints about unwanted calls have trebled in just six months
voices
News
people
Arts & Entertainment
Picture of innocence: Ricky Gervais and Karl Pilkington in ‘Derek’
tvReview: The insights of Ricky Gervais's sweet and kind character call to mind Karl Pilkington's faux-naïf podcast observations
Arts & Entertainment
Tangled up in blue: Singer-songwriter Judith Owen
musicAnd how husband Harry Shearer - of Spinal Tap and The Simpsons fame - helped her music flourish
VIDEO
Arts & Entertainment
Paul Weller: 'I am a big supporter of independent record stores but the greedy touts making a fast buck off genuine fans is disgusting'
music
Arts & Entertainment
William Shakespeare's influence on English culture is still strongly felt today, from his plays on stage to words we use everyday
arts
Sport
Karim Benzema celebrates scoring the opening goal
sportReal Madrid 1 Bayern Munich 0: Germans will need their legendary self-belief to rescue Champions League tie in second leg
Life & Style
Looking familiar: The global biometrics industry is expected to grow to $20bn by 2020
tech
Sport
Manchester United manager David Moyes has claimed supporters understand the need to look at
sportScot thanks club staff and fans, but gives no specific mention of players
News
Strange 'quack' noises could be undersea chatter of Minke whales
science
News
weird news... and film it, obviously
Life & Style
Balancing act: City workers at the launch of Cityfathers
lifeThe organisation is the brainchild of Louisa Symington-Mills who set up Citymothers in 2012 - a group boasting more than 3,000 members
Arts & Entertainment
tv
News
Fresh hope: Ruth Womak and her dog Jess. A free training course in basic computing skills changed Ruth’s life
educationHow a housing association's remarkable educational initiative gave hope to tenant battling long-term illness and depression
News
Rohff is one of France’s most popular rappers
people
Have you tried new the Independent Digital Edition iPad app?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Corporate Finance

£80000 - £120000 per annum + Highly Competitive Salary: Austen Lloyd: US QUALI...

International Banking Associate - City

Highly Competitive Package: Austen Lloyd: INTERNATIONAL BANKING Banking Solici...

Data Quality Analyst-(SQL, Excel, Word)

£20000 - £28000 per annum: Harrington Starr: Data Quality Analyst-(SQL, Excel,...

Director of Consulting - Energy Trading Gas, Power - London

£90000 - £110000 per annum + full Package: Harrington Starr: Director of Cons...

Day In a Page

Migrants in Britain a decade on: The Poles who brought prosperity

Migrants in Britain a decade on

The Poles who brought prosperity
Philippe Legrain: 'The eurozone crisis has tipped many into disillusionment, despair and extremism - we need a European Spring'

Philippe Legrain: 'We need a European Spring'

The eurozone crisis has tipped many into disillusionment, despair and extremism - this radically altered landscape calls for a new kind of politics, argues the economist
A History of the First World War in 100 moments: A moment of glory on the Western Front for the soldiers of the Raj

A History of the First World War in 100 moments

A moment of glory on the Western Front for the soldiers of the Raj
Judith Owen reveals how husband Harry Shearer - star of This Is Spinal Tap and The Simpsons - helped her music flourish

Judith Owen: 'How my husband helped my music flourish'

Her mother's suicide and father's cancer also informed the singer-songwriter's new album, says Pierre Perrone
The online lifeline: How a housing association's remarkable educational initiative gave hope to tenant battling long-term illness and depression

Online lifeline: Housing association's educational initiative

South Yorkshire Housing Association's free training courses gave hope to tenant battling long-term illness and depression
Face-recognition software: Is this the end of anonymity for all of us?

Face-recognition software: The end of anonymity?

The software is already used for military surveillance, by police to identify suspects - and on Facebook
Train Kick Selfie Guy is set to scoop up to $250,000 thanks to his viral video - so how can you cash in on your candid moments?

Viral videos: Cashing in on candid moments

Train Kick Selfie Guy Jared Frank could receive anything between $30,000 to $250,000 for his misfortune - and that's just his cut of advertising revenue from being viewed on YouTube
The world's fastest elevators - 20 metres per second - are coming soon to China

World's fastest elevators coming soon to China

Whatever next? Simon Usborne finds out from Britain's highest authority on the subject
Cityfathers tackles long-hours culture that causes men to miss out on seeing their children

Cityfathers tackles long-hours culture

The organisation is the brainchild of Louisa Symington-Mills, a chief operating officer who set up Citymothers in 2012 - a group that now boasts more than 3,000 members
Brits who migrate to Costa del Sol more unhappy than those who stay at home

It's not always fun in the sun: Moving abroad does not guarantee happiness

Brits who migrate to Costa del Sol more unhappy than those who stay at home
Migrants in Britain a decade on: They came, they worked, they stayed in Lincolnshire

Migrants in Britain a decade on

They came, they worked, they stayed in Lincolnshire
Chris Addison on swapping politics for pillow talk

Chris Addison on swapping politics for pillow talk

The 'Thick of It' favourite thinks the romcom is an 'awful genre'. So why is he happy with a starring role in Sky Living's new Lake District-set series 'Trying Again'?
Why musicians play into their old age

Why musicians play into their old age

Nick Hasted looks at how they are driven by a burning desire to keep on entertaining fans despite risking ridicule
How can you tell a gentleman?

How can you tell a gentleman?

A list of public figures with gallant attributes by Country Life magazine throws a fascinating light on what it means to be a gentleman in the modern world
Pet a porter: posh pet pampering

Pet a porter: posh pet pampering

The duo behind Asos and Achica have launched a new venture offering haute couture to help make furry companions fashionable