The Week Ahead: ITV pulls in viewers but needs a commercial break

 

The X Factor may not be quite so many people's cup of tea this year, but the phenomenon of Downton Abbey has certainly left ITV with a warm glow this autumn. Moreover, the headline hit shows are only part of the success story at ITV under its new management team, lead by the former Post Office boss Adam Crozier. A newemphasis on content has begun to bear fruit for the company.

Analysts at UBS are expecting ITV, which unveils its interim management statement today, to point to "strong audience trend data", with the Rugby World Cup having been a particular bonus for the channel in October, the disappointing ends met by the home nations notwithstanding.

UBS is also looking forward to hearing more about progress made on the transformation plan laid out by Mr Crozier for the business, which includes a cautious foray into pay television and a greater focus on online.

Against all that, ITV is facing some tough headwinds from the wider economicenvironment, which are likely to hit itsadvertising revenues, for which it is due to give updated forecasts. UBS predicts flat revenue growth for 2011, reflecting a gain of 0.2 per cent in the third quarter but a slump of 2.7 per cent during the final three months of the year.

UBS still regards ITV as undervalued, trading as it does on a forward earnings multiple of nine times for 2012 compared with 10 times in the wider sector.

 

Today

Results and updates: Catlin Group, Charter, Electrocomponents, ITV, Kingspan, Lonmin.

 

Tuesday

Burberry's interim results ought to provide some relief from the gloom that has been predominant in the retail sector in recent weeks. Western economies may be feeling the squeeze, but luxury goods sales have remained strong. Switzerland's Richemont reported a 29 per cent increase in revenues last week, for example.

Analysts expect Burberry to continue to perform well. Numis said: "With strong sales progression through the first half and clear full-year margin guidance, we expect a strong interim profit before tax figure."

Results and updates: Afren, Aveva, British Land, Burberry, Cable & Wireless Worldwide, CRH, Drax Group, easyJet, MicroFocus, Premier Oil, TalkTalk

 

Wednesday

Trading will be dominated by economic news, with the Bank of England due to publish its quarterly Inflation Report. The Bank is likely to stick to its previous guidance that inflation, currently well above the 2 per cent target, will fall sharply during 2012. That view was given some credence by Friday's factory gate inflation figures, which indicated pressures in the supply chain beginning to ease off.

Just as critical, however, is what the Bank has to say about the outlook for the economy. It is likely to downgrade its growth forecasts once again, following weeks of turmoil in the eurozone, adding to the pressure on George Osborne, the Chancellor of the Exchequer, who is due to present his autumn statement at the end of the month

Results and updates: Barratt Developments, Icap, London Stock Exchange, Meggitt, Melrose, Reed Elsevier, Speedy Hire

 

Thursday

Analysts at Deutsche Bank have praised the emerging markets exposure of SAB Miller, which reports interim results today, but point out that its takeover of Foster's of Australia will dilute that effect, cutting the percentage of profits it generates from such markets to "around 70 per cent from around 80 per cent". Deutsche also warns that "recent news flow is, if anything, slightly disappointing" and predicts slightly lower earnings than expected because of tough trading in the US.

Results and updates: Amec, Amlin, Atkins, Capita Group, Centrica, Close Brothers, Dunelm, Glencore, Mothercare, National Grid, Rexam, SAB Miller, Serco.

 

Friday

The engineering company Rotork had a strong first-half and UBS analysts expect further positive news in today's trading statement from the company. "With order input in the second quarter alone up 28 per cent year-on-year, we would expect growth rates to moderate given tougher comparisons," UBS said. "We forecast orders of £121m, fractionally ahead of the second quarter [and] 16 per cent year-on-year.

Results and updates: Chemring, Derwent London, Intertek, Regus, Rotork, Tullett Prebon.

Economics Diary

TODAY Bank of England Project Merlin bank lending third-quarter data.

 

TOMORROW UK CPI & RPI inflation figures; eurozone GDP, with separate figures for France, Germany, Netherlands.

 

WEDNESDAY UK ILO unemployment, claimant rate, Bank of England Inflation Report; eurozone final inflation report; US: Consumer prices.

 

THURSDAY UK retail sales data from ONS.

 

FRIDAY No significant data expected.

Suggested Topics
Start your day with The Independent, sign up for daily news emails
Life and Style
love + sex
Arts and Entertainment
Victoria Wood, Kayvan Novak, Alexa Chung, Chris Moyles
tvReview: No soggy bottoms, but plenty of other baking disasters on The Great Comic Relief Bake Off
Sport
Ashley Young celebrates the winner for Manchester United against Newcastle
footballNewcastle 0 Man United 1: Last minute strike seals precious victory
Life and Style
Tikka Masala has been overtaken by Jalfrezi as the nation's most popular curry
food + drink
Arts and Entertainment
Seth Rogan is one of America’s most famous pot smokers
filmAmy Pascal resigned after her personal emails were leaked following a cyber-attack sparked by the actor's film The Interview
News
Benjamin Netanyahu and his cartoon bomb – the Israeli PM shows his ‘evidence’
people
ebooks
ebooksA special investigation by Andy McSmith
Arts and Entertainment
80s trailblazer: comedian Tracey Ullman
tv
News
i100
Life and Style
A statue of the Flemish geographer Gerard Kremer, Geradus Mercator (1512 - 1594) which was unveiled at the Geographical Congree at Anvers. He was the first person to use the word atlas to describe a book of maps.
techThe 16th century cartographer created the atlas
Arts and Entertainment
Stephen Tompkinson is back as DCI Banks
tvReview: Episode one of the new series played it safe, but at least this drama has a winning formula
News
i100
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

Ashdown Group: Graduate Application Support Analyst

£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...

Reach Volunteering: External Finance Trustee Needed!

Voluntary post, reasonable expenses reimbursed: Reach Volunteering: Would you ...

Christine McCleave: FP&A Analyst

£36,000 - £40,000: Christine McCleave: Are you looking for a new opportunity a...

Recruitment Genius: Sales Executive - OTE £40,000

£15000 - £18000 per annum: Recruitment Genius: This is a great opportunity for...

Day In a Page

War with Isis: Iraq's government fights to win back Tikrit from militants - but then what?

Baghdad fights to win back Tikrit from Isis – but then what?

Patrick Cockburn reports from Kirkuk on a conflict which sectarianism has made intractable
Living with Alzheimer's: What is it really like to be diagnosed with early-onset dementia?

What is it like to live with Alzheimer's?

Depicting early-onset Alzheimer's, the film 'Still Alice' had a profound effect on Joy Watson, who lives with the illness. She tells Kate Hilpern how she's coped with the diagnosis
The Internet of Things: Meet the British salesman who gave real-world items a virtual life

Setting in motion the Internet of Things

British salesman Kevin Ashton gave real-world items a virtual life
Election 2015: Latest polling reveals Tories and Labour on course to win the same number of seats - with the SNP holding the balance of power

Election 2015: A dead heat between Mr Bean and Dick Dastardly!

Lord Ashcroft reveals latest polling – and which character voters associate with each leader
Audiences queue up for 'true stories told live' as cult competition The Moth goes global

Cult competition The Moth goes global

The non-profit 'slam storytelling' competition was founded in 1997 by the novelist George Dawes Green and has seen Malcolm Gladwell, Salman Rushdie and Molly Ringwald all take their turn at the mic
Pakistani women come out fighting: A hard-hitting play focuses on female Muslim boxers

Pakistani women come out fighting

Hard-hitting new play 'No Guts, No Heart, No Glory' focuses on female Muslim boxers
Leonora Carrington transcended her stolid background to become an avant garde star

Surreal deal: Leonora Carrington

The artist transcended her stolid background to become an avant garde star
LGBT History Month: Pupils discuss topics from Sappho to same-sex marriage

Education: LGBT History Month

Pupils have been discussing topics from Sappho to same-sex marriage
11 best gel eyeliners

Go bold this season: 11 best gel eyeliners

Use an ink pot eyeliner to go bold on the eyes with this season's feline flicked winged liner
Cricket World Cup 2015: Tournament runs riot to make the event more hit than miss...

Cricket World Cup runs riot to make the event more hit than miss...

The tournament has reached its halfway mark and scores of 300 and amazing catches abound. One thing never changes, though – everyone loves beating England
Katarina Johnson-Thompson: Heptathlete ready to jump at first major title

Katarina Johnson-Thompson: Ready to jump at first major title

After her 2014 was ruined by injury, 21-year-old Briton is leading pentathlete going into this week’s European Indoors. Now she intends to turn form into gold
Syrian conflict is the world's first 'climate change war', say scientists, but it won't be the last one

Climate change key in Syrian conflict

And it will trigger more war in future
How I outwitted the Gestapo

How I outwitted the Gestapo

My life as a Jew in wartime Berlin
The nation's favourite animal revealed

The nation's favourite animal revealed

Women like cuddly creatures whilst men like creepy-crawlies
Is this the way to get young people to vote?

Getting young people to vote

From #VOTESELFISH to Bite the Ballot