The Week Ahead: Global gloom brings down Michael Page

Today

Michael Page will give its view on how the economy is affecting the job markets when the recruiter announces its update for the second quarter. Peel Hunt is one broker cautious over the company's prospects, with its analysts seeing "pressure" on its forecasts for the rest of the year amid continuing poor economic data from around the world. Noting that Michael Page has a particularly large exposure to Europe, they are expecting a pre-tax profit of £68.9m for the full-year – £8m lower than the consensus in the Square Mile.

Results/Updates: Bovis Homes, Michael Page, RM, XP Power.

Tomorrow

Given we have just seen the wettest June on record, the high street will not have been enjoying the weather. On Tuesday Marks & Spencer will reveal just how much it has been hit when it unveils its first-quarter statement, with it expected to announce its worst three months of trading for three years. Analysts at UBS are forecasting general merchandise like-for-like sales to be down 7 per cent over the period. They believe its food division may have suffered as well as womenswear, although they add that events such as the Diamond Jubilee should have offset this.

While SIG was cautious at the time of its AGM in May, Peel Hunt warns that "the outlook has become more challenging" since then. Scribblers from the broker believe the building product group's trading statement will focus on conditions in Europe, while they add that it will be another company not helped by our damp summer.

However, the weather could have given Asos a boost. The online retailer is announcing its first-quarter sales figures, and Société Gé*érale's Anne Critchlow is predicting an 8 per cent increase in the UK. She adds that in the US sales "should look solid enough" with a 60 per cent increase, but warns that in the EU – where she is predicting a rise of 15 per cent – the numbers "could be soft for macro reasons".

Results/Updates: Accsys Technologies, Asos, Bwin.party, Ferrexpo, Intermediate Capital, Interserve, Marks & Spencer, SIG, Smiths News.

Wednesday

Ahead of its final results in September, JD Wetherspoons announces its pre-close statement on Wednesday. The boozer's struggle to keep margins up looks set to be a focus once again, and although it is unlikely it will have been hit as hard as it was over the third quarter, Numis Securities' Douglas Jack still expects full-year margins to end up falling by 9.05 per cent.

Increasing costs and taxes have been hard for the group to pass on to what Mr Jack calls its "more price-sensitive customers", and the analyst cautions that his current expectations for the next financial year could prove too optimistic.

Also in focus on Wednesday will be Burberry. JP Morgan Cazenove's analysts believe the luxury retailer will announce that sales over the first quarter of its financial year jumped 15 per cent to £421m, with retail sales up 20 per cent.

Results/Updates: Barratt Developments, Bloomsbury Publishing, Burberry, Galliford Try, Hays, Icap, JD Wetherspoon.

Thursday

SuperGroup has been eager to persuade the market that its SuperDry brand remains in fashion, although there are plenty of sceptics given that its sales growth has slowed for four quarters running. Still, some analysts have been impressed by the retailer's latest range, and the group, which last month was relegated to the small-cap index, will get another chance on Thursday to change investors' minds with the release of its full-year results. In terms of the numbers themselves, after April's profits warning SuperGroup said it expected to post a pre-tax profit of around £43m, and it has stuck to that following the news that overall sales for the 12 months totalled £313.8m.

Results/Updates: Ashmore, Associated British Foods, Centaur Media, Premier Oil, SuperGroup.

Friday

Electrocomponents is among the companies rounding off the week, with the electrical parts supplier publishing its interim management statement at the same time as holding its AGM. Numis Securities' Steve Woolf is expecting "a relatively stable performance" over the first-quarter.

Results/Updates: Electrocomponents, Experian, Polar Capital.

Economics Diary

Today

Eurozone Sentix investor confidence data.

Tomorrow

British Retail Consortium retail sales monitor; Industrial production; Manufacturing production; NIESR GDP estimate; Trade balance.

Wednesday

US Federal Open Market Committee meeting minutes.

Thursday

European Central Bank monthly bulletin; Eurozone industrial production; US Federal budget balance; US import prices; US unemployment claims

Friday

US PPI; US University of Michigan consumer sentiment (preliminary).

PROMOTED VIDEO
News
Lane Del Rey performing on the Pyramid Stage at Glastonbury 2014
people... but none of them helped me get a record deal, insists Lana Del Rey
Arts and Entertainment
Dwayne 'The Rock' Johnson stars in Hercules
filmReview: The Rock is a muscular Davy Crockett in this preposterous film, says Geoffrey Macnab
News
i100
Arts and Entertainment
Standing the test of time: Michael J Fox and Christopher Lloyd in 'Back to the Future'
filmA cult movie event aims to immerse audiences of 80,000 in ‘Back to the Future’. But has it lost its magic?
Sport
Louis van Gaal watches over Nani
transfers
Arts and Entertainment
Flora Spencer-Longhurst as Lavinia, William Houston as Titus Andronicus and Dyfan Dwyfor as Lucius
theatreThe Shakespeare play that proved too much for more than 100 people
News
exclusivePunk icon Viv Albertine on Sid Vicious, complacent white men, and why free love led to rape
Sport
New Real Madrid signing James Rodríguez with club president Florentino Perez
transfersColombian World Cup star completes £63m move to Spain
News
ebookA unique anthology of reporting and analysis of a crucial period of history
Arts and Entertainment
Stir crazy: Noel Fielding in 'Luxury Comedy 2: Tales from Painted Hawaii'
comedyAs ‘Luxury Comedy’ returns, Noel Fielding on why mainstream success scares him and what the future holds for 'The Boosh'
Life and Style
Flow chart: Karl Landsteiner discovered blood types in 1900, yet scientists have still not come up with an explanation for their existence
lifeAll of us have one. Yet even now, it’s a matter of debate what they’re for
Arts and Entertainment
'Weird Al' Yankovic, or Alfred Matthew, at the 2014 Los Angeles Film Festival Screening of
musicHis latest video is an ode to good grammar. But what do our experts think he’s missed out?
Travel
Hotel Tour d’Auvergne in Paris launches pay-what-you-want
travelIt seems fraught with financial risk, but the policy has its benefits
Arts and Entertainment
booksThe best children's books for this summer
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

Business Analyst - Banking - Scotland - £380-£480

£380 - £480 per day: Orgtel: Business Analyst - Banking - Edinburgh - £380 - ...

Risk Analyst - (Multi Asset class) £70k - £80k

£70000 - £80000 per annum: Harrington Starr: My client is a leading financial ...

Programme Director - Conduct Risk - London

£850 - £950 per day: Orgtel: Programme Director - Conduct Risk - Banking - £85...

Application Support Engineer (Windows Server, Networking, Perl)

Negotiable: Harrington Starr: Application Support Engineer (Windows Server, Ne...

Day In a Page

Noel Fielding's 'Luxury Comedy': A land of the outright bizarre

Noel Fielding's 'Luxury Comedy'

A land of the outright bizarre
What are the worst 'Word Crimes'?

What are the worst 'Word Crimes'?

‘Weird Al’ Yankovic's latest video is an ode to good grammar. But what do The Independent’s experts think he’s missed out?
Can Secret Cinema sell 80,000 'Back to the Future' tickets?

The worst kept secret in cinema

A cult movie event aims to immerse audiences of 80,000 in ‘Back to the Future’. But has it lost its magic?
Facebook: The new hatched, matched and dispatched

The new hatched, matched and dispatched

Family events used to be marked in the personal columns. But now Facebook has usurped the ‘Births, Deaths and Marriages’ announcements
Why do we have blood types?

Are you my type?

All of us have one but probably never wondered why. Yet even now, a century after blood types were discovered, it’s a matter of debate what they’re for
Honesty box hotels: You decide how much you pay

Honesty box hotels

Five hotels in Paris now allow guests to pay only what they think their stay was worth. It seems fraught with financial risk, but the honesty policy has its benefit
Commonwealth Games 2014: Why weight of pressure rests easy on Michael Jamieson’s shoulders

Michael Jamieson: Why weight of pressure rests easy on his shoulders

The Scottish swimmer is ready for ‘the biggest race of my life’ at the Commonwealth Games
Some are reformed drug addicts. Some are single mums. All are on benefits. But now these so-called 'scroungers’ are fighting back

The 'scroungers’ fight back

The welfare claimants battling to alter stereotypes
Amazing video shows Nasa 'flame extinguishment experiment' in action

Fireballs in space

Amazing video shows Nasa's 'flame extinguishment experiment' in action
A Bible for billionaires

A Bible for billionaires

Find out why America's richest men are reading John Brookes
Paranoid parenting is on the rise - and our children are suffering because of it

Paranoid parenting is on the rise

And our children are suffering because of it
For sale: Island where the Magna Carta was sealed

Magna Carta Island goes on sale

Yours for a cool £4m
Phone hacking scandal special report: The slide into crime at the 'News of the World'

The hacker's tale: the slide into crime at the 'News of the World'

Glenn Mulcaire was jailed for six months for intercepting phone messages. James Hanning tells his story in a new book. This is an extract
We flinch, but there are degrees of paedophilia

We flinch, but there are degrees of paedophilia

Child abusers are not all the same, yet the idea of treating them differently in relation to the severity of their crimes has somehow become controversial
The truth about conspiracy theories is that some require considering

The truth about conspiracy theories is that some require considering

For instance, did Isis kill the Israeli teenagers to trigger a war, asks Patrick Cockburn