The Week Ahead: Essar must answer coal source questions

 

Today

The week begins with full-year results from the power giant Essar Energy, but more interesting for the Square Mile than the numbers should be the latest on how it plans to fuel its power stations. Although recent signs regarding its aim to start development at its Mahan mine in India have been positive, Deutsche Bank's James Brand points out that "in the interim, the company will need to obtain alternative coal from other sources".

Meanwhile, Kier Group's trading update is not expected to be too surprising following the construction firm's interim management statement last month when bosses said it was on course to meet expectations for the financial year.

Results/Updates: Bango, City of London Group, Cohort, Essar Energy, Immunodiagnostic Systems and Kier Group.

Tomorrow

Ocado has already said sales over the second quarter will have jumped 13 per cent, so investors will be looking for further detail from the online grocer when it announces its interims on Tuesday.

Jefferies' James Grzinic is expecting the modest rise in sales growth to be accompanied by "an appreciable improvement in profitability", thanks partly to a reduction in manual picking of customers' orders at the company's Hatfield warehouse.

Also in focus will be Carpetright, and Peel Hunt's John Stevenson is predicting the floor coverings retailer will reveal pre-tax profits for the year of £3.1m, towards the bottom end of the range the group has given.

The analyst does not believe there will be any new detail on current trading, but says he will be looking for further feedback from its store makeovers, pointing out this has already provided a major boost to sales.

A major week for the transport companies sees Stagecoach's full-year results on Tuesday followed by a trading update from National Express two days later. According to Shore Capital, the former will post a pre-tax profit of £197.6m, and the broker adds that it should "provide further comfort on the group's ability to offset subsidy pressure" in the UK bus sector.

Results/Updates: Carpetright, Domino Printing Sciences, IDOX, Lo-Q, Ocado, Petrofac, Porvair, Serco and Stagecoach.

Wednesday

Standard Chartered's update this Wednesday should show the emerging markets lender enjoyed revenue growth during the first half of around 9 per cent, according to JP Morgan. However, the broker warns it is cautious over short-term expectations, thanks partly to "slowing economic growth in a number of the group's geographies".

Results/Updates: CPP, Northgate, Safestore Holdings and Standard Chartered.

Thursday

Back in April, Greene King was licking its lips with anticipation ahead of the Jubilee, Euro 2012 and the Olympics, and although the period covered by Thursday's final results won't include any of these events, the pubs group could give some comments on the boost it has got from the first two.

Bosses have already said retail like-for-like sales will have risen 4.6 per cent, and Deutsche Bank is expecting profits growth from the division to be in the mid-teens while forecasting an overall pre-tax profit of £153m.

Results/Updates: Debenhams, DS Smith, Greene King, Mountview Estates, National Express and ReNeuron.

Friday

According to the experts, it has been a good Euro 2012 for the bookmakers so far, and ahead of the final on Sunday the online gambling group Betfair releases its full-year results. Numis' Ivor Jones warns, however, that the period covered by the figures did see some race meetings cancelled in April because of the rain, while he adds that it will also have been knocked by the current eurozone crisis.

Results/Updates: Berkeley, Betfair, Keller and Wood Group.

Economics diary

TODAY US new home sales.

TOMORROW Public finances data; US consumer confidence.

WEDNESDAY British Bankers' Association mortgage approval figures; Confederation of British Industry realised sales; German preliminary consumer price index; US crude oil inventories; US durable goods orders; US pending home sales.

THURSDAY Bank of England credit conditions survey; Current account; European Union leaders summit begins in Brussels; Eurozone economic sentiment; First-quarter GDP (final); German unemployment data; US first- quarter GDP (final); US unemployment data.

FRIDAY Eurozone M3 money supply; GfK consumer confidence survey; Services index; US Chicago purchasing managers index; US University of Michigan sentiment data.

Suggested Topics
PROMOTED VIDEO
Extras
indybest
Travel
Flocking round: Beyoncé, Madame Tussauds' latest waxwork, looking fierce in the park
travelIn a digital age when we have more access than ever to the stars, why are waxworks still pulling in crowds?
Arts and Entertainment
tv
Arts and Entertainment
Judi Dench appeared at the Hay Festival to perform excerpts from Shakespearean plays
tvJudi Dench and Hugh Bonneville join Benedict Cumberbatch in BBC Shakespeare adaptations
Sport
Is this how Mario Balotelli will cruise into Liverpool?
football
News
Ronahi Serhat, a PKK fighter, in the Qandil Mountains in Iraqi Kurdistan
i100
News
ebooksAn evocation of the conflict through the eyes of those who lived through it
Arts and Entertainment
Poet’s corner: Philip Larkin at the venetian window of his home in 1958
booksOr caring, playful man who lived for others? A new book has the answer
Arts and Entertainment
Exhibition at the Centre Pompidou in Metz - 23 May 2012
art
News
Matthew McConaughey and his son Levi at the game between the Boston Red Sox and the Houston Astros at Fenway Park on August 17, 2014 in Boston, Massachusetts.
advertisingOscar-winner’s Lincoln deal is latest in a lucrative ad production line
Life and Style
Pick of the bunch: Sudi Pigott puts together roasted tomatoes with peppers, aubergines and Labneh cheese for a tomato-inspired vegetarian main dish
food + drink
Arts and Entertainment
Alfred Molina, left, and John Lithgow in a scene from 'Love Is Strange'
film
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

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

iJobs Job Widget
iJobs Money & Business

Junior Quant Analyst - C++, Boost, Data Mining

£25000 - £35000 per annum: Harrington Starr: Junior Quant Analyst - C++, Boost...

Service Desk Analyst- (Desktop Support, Help desk)

£25000 - £35000 per annum: Harrington Starr: Service Desk Analyst- (Desktop Su...

Junior Quant Analyst (Machine Learning, SQL, Brokerage)

£30000 - £50000 per annum: Harrington Starr: Junior Quant Analyst (Machine Lea...

UNIX Application Support Analyst- Support, UNIX, London

£45000 - £55000 per annum: Harrington Starr: UNIX Application Support Analyst-...

Day In a Page

Air strikes? Talk of God? Obama is following the jihadists’ script

Air strikes? Talk of God? Obama is following the jihadists’ script

The President came the nearest he has come yet to rivalling George W Bush’s gormless reaction to 9/11 , says Robert Fisk
Ebola outbreak: Billy Graham’s son declares righteous war on the virus

Billy Graham’s son declares righteous war on Ebola

A Christian charity’s efforts to save missionaries trapped in Africa by the crisis have been justifiably praised. But doubts remain about its evangelical motives
Jeremy Clarkson 'does not see a problem' with his racist language on Top Gear, says BBC

Not even Jeremy Clarkson is bigger than the BBC, says TV boss

Corporation’s head of television confirms ‘Top Gear’ host was warned about racist language
Nick Clegg the movie: Channel 4 to air Coalition drama showing Lib Dem leader's rise

Nick Clegg the movie

Channel 4 to air Coalition drama showing Lib Dem leader's rise
Philip Larkin: Misogynist, racist, miserable? Or caring, playful man who lived for others?

Philip Larkin: What will survive of him?

Larkin's reputation has taken a knocking. But a new book by James Booth argues that the poet was affectionate, witty, entertaining and kind, as hitherto unseen letters, sketches and 'selfies' reveal
Madame Tussauds has shown off its Beyoncé waxwork in Regent's Park - but why is the tourist attraction still pulling in the crowds?

Waxing lyrical

Madame Tussauds has shown off its Beyoncé waxwork in Regent's Park - but why is the tourist attraction still pulling in the crowds?
Texas forensic astronomer finally pinpoints the exact birth of impressionism

Revealed (to the minute)

The precise time when impressionism was born
From slow-roasted to sugar-cured: how to make the most of the British tomato season

Make the most of British tomatoes

The British crop is at its tastiest and most abundant. Sudi Pigott shares her favourite recipes
10 best men's skincare products

Face it: 10 best men's skincare products

Oscar Quine cleanses, tones and moisturises to find skin-savers blokes will be proud to display on the bathroom shelf
Malky Mackay allegations: Malky Mackay, Iain Moody and another grim day for English football

Mackay, Moody and another grim day for English football

The latest shocking claims do nothing to dispel the image that some in the game on these shores exist in a time warp, laments Sam Wallace
La Liga analysis: Will Barcelona's hopes go out of the window?

Will Barcelona's hopes go out of the window?

Pete Jenson starts his preview of the Spanish season, which begins on Saturday, by explaining how Fifa’s transfer ban will affect the Catalans
Middle East crisis: We know all too much about the cruelty of Isis – but all too little about who they are

We know all too much about the cruelty of Isis – but all too little about who they are

Now Obama has seen the next US reporter to be threatened with beheading, will he blink, asks Robert Fisk
Neanderthals lived alongside humans for centuries, latest study shows

Final resting place of our Neanderthal neighbours revealed

Bones dated to 40,000 years ago show species may have died out in Belgium species co-existed
Scottish independence: The new Scots who hold fate of the UK in their hands

The new Scots who hold fate of the UK in their hands

Scotland’s immigrants are as passionate about the future of their adopted nation as anyone else
Britain's ugliest buildings: Which monstrosities should be nominated for the Dead Prize?

Blight club: Britain's ugliest buildings

Following the architect Cameron Sinclair's introduction of the Dead Prize, an award for ugly buildings, John Rentoul reflects on some of the biggest blots on the UK landscape