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
Voices
On the last day of campaigning before the polling booths open, the SNP leader has written to voters in a final attempt to convince them to vote for independence
voicesIs a huge gamble on oil keeping the First Minister up at night?
Life and Style
tech

Apple has been hit by complaints about the 1.1GB download

Arts and Entertainment
Pointless host Alexander Armstrong will voice Danger Mouse on CBBC
tv

Much-loved cartoon character returns - without Sir David Jason

Arts and Entertainment
Liam Neeson said he wouldn't
tv

Liam Neeson's Downton dreams

PROMOTED VIDEO
Arts and Entertainment
Actor and director Zach Braff
tv

News
i100
Arts and Entertainment
Rosalind Buckland, the inspiration for Cider with Rosie died this week
booksBut what is it like to be the person who inspires a classic work of art?
Arts and Entertainment
tv

News
i100
Arts and Entertainment
The former Doctor Who actor is to play a vicar is search of a wife
film

Matt Smith is set to join cast of the Jane Austen classic - with a twist

News
ebooksAn unforgettable anthology of contemporary reportage
Arts and Entertainment
Lionel Messi in action for Barcelona
filmWhat makes the little man tick?
Arts and Entertainment
Meera Syal was a member of the team that created Goodness Gracious Me
tv

Actress to appear in second series of the hugely popular crime drama

Arts and Entertainment
tvReview: An undercooked end (spoiler alert)
Life and Style
i100

Arts and Entertainment
Pharrell dismissed the controversy surrounding
musicThe singer said 'the last thing I want to do is degrade'
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

Property Underwriter

£70-90,000: Saxton Leigh: Our client a London Market Insurer are seeking a Pro...

Operational Risk Manager - Asset Management

£60,000 - £80,000: Saxton Leigh: Our client is an leading Asset Manager based...

Trainee Recruitment Consultant Birmingham

£18000 - £23000 per annum + Comission: SThree: The SThree group is a world lea...

Trainee Recruitment Consultant - Birmingham - Real Staffing

£18000 - £23000 per annum + Commission: SThree: Real Staffing are currently lo...

Day In a Page

Mystery of the Ground Zero wedding photo

A shot in the dark

Mystery of the wedding photo from Ground Zero
His life, the universe and everything

His life, the universe and everything

New biography sheds light on comic genius of Douglas Adams
Save us from small screen superheroes

Save us from small screen superheroes

Shows like Agents of S.H.I.E.L.D are little more than marketing tools
Reach for the skies

Reach for the skies

From pools to football pitches, rooftop living is looking up
These are the 12 best hotel spas in the UK

12 best hotel spas in the UK

Some hotels go all out on facilities; others stand out for the sheer quality of treatments
These Iranian-controlled Shia militias used to specialise in killing American soldiers. Now they are fighting Isis, backed up by US airstrikes

Widespread fear of Isis is producing strange bedfellows

Iranian-controlled Shia militias that used to kill American soldiers are now fighting Isis, helped by US airstrikes
Topshop goes part Athena poster, part last spring Prada

Topshop goes part Athena poster, part last spring Prada

Shoppers don't come to Topshop for the unique
How to make a Lego masterpiece

How to make a Lego masterpiece

Toy breaks out of the nursery and heads for the gallery
Meet the ‘Endies’ – city dwellers who are too poor to have fun

Meet the ‘Endies’ – city dwellers who are too poor to have fun

Urbanites are cursed with an acronym pointing to Employed but No Disposable Income or Savings
Paisley’s decision to make peace with IRA enemies might remind the Arabs of Sadat

Ian Paisley’s decision to make peace with his IRA enemies

His Save Ulster from Sodomy campaign would surely have been supported by many a Sunni imam
'She was a singer, a superstar, an addict, but to me, her mother, she is simply Amy'

'She was a singer, a superstar, an addict, but to me, her mother, she is simply Amy'

Exclusive extract from Janis Winehouse's poignant new memoir
Is this the role to win Cumberbatch an Oscar?

Is this the role to win Cumberbatch an Oscar?

The Imitation Game, film review
England and Roy Hodgson take a joint step towards redemption in Basel

England and Hodgson take a joint step towards redemption

Welbeck double puts England on the road to Euro 2016
Relatives fight over Vivian Maier’s rare photos

Relatives fight over Vivian Maier’s rare photos

Pictures removed from public view as courts decide ownership
‘Fashion has to be fun. It’s a big business, not a cure for cancer’

‘Fashion has to be fun. It’s a big business, not a cure for cancer’

Donatella Versace at New York Fashion Week