The Week Ahead: Rebellious shareholders to question HSBC chiefs

 

Today

 

The shareholder meeting of the banking giant HSBC should be a lively affair. The investor lobby group Pirc is calling on shareholders to vote against the re-election of the chairman, Douglas Flint, on the grounds that as the former chief executive of the bank he can hardly be deemed independent. There are also bound to be questions over chief executive Stuart Gulliver's £8m pay package.

The low-cost airline Ryanair upped its guidance for full-year profits from €440m (£355m) to €480m in January, and it might even beat that slightly. Of more interest will be chief executive Michael O'Leary's comments on the chances of a special dividend this year.

Results: BTG; British Land; Cranswick; Cable & Wireless Worldwide; E2V Technologies; Mitie; Ryanair.

Tomorrow

Is the smooth -talking Dutchman Marc Bolland about to impress for more than the cut of his fine suits? On Tuesday he unveils full-year results at Marks & Spencer, a closely watched annual event. Like other retailers it has suffered from depressed consumer conditions, and the weather hasn't helped much either.

He has won credit in retail land for overhauling stores to make them more easily "shoppable", and most agree that M&S's food offering has improved. Some say the clothes are still dull, though. Panmure Gordon says it prefers Next and Asos, noting that M&S's fourth-quarter trading update was a clear disappointment. It reckons that full-year profits will come in at £689.4m, a bit below the City consensus, and says the shares are no better than a hold at 347p.

Results: Bloomsbury; Big Yellow; Homeserve; Marks & Spencer; KCom; UK Mail; Vodafone; Yell.

Wednesday

Fresh from notching up record sales of £1bn in just six months, the luxury fashion house Burberry is expected to deliver more good news from investors with a healthy rise in annual profits to £367m-£377m. Angela Ahrendts' business – fast joining Prada, Gucci and Louis Vuitton as a global designer-label superpower – has enjoyed the biggest success in British, French and Chinese markets, defying wider global turmoil. The shareholders have down well too: the FTSE 100 may be sinking fast, but Burberry's shares are up 20 per cent since Christmas.

Meanwhile the property firm Shaftesbury – owner of swaths of Chinatown and London's Theatreland – should also sparkle with interim results. Visitors are still flocking to the West End despite the downturn, prompting heavy demand from tenants for its shop and restaurants. The Diamond Jubilee and Olympic Games are also putting the capital in the shop window, although Shaftesbury is braced for short-term disruption this summer as public transport creaks under the influx of tourists.

Results: Burberry; FirstGroup; Great Portland Estates; Telecom Plus.

Thursday

Daily Mail & General Trust's half-year results should give an indication about whether advertising is getting a lift from the Diamond Jubilee and the Olympics. DMGT is set to be dropped from the FTSE 250 because it has a high proportion of non-voting shares, but Numis says fundamentals are strong, noting that "earnings momentum feels like it has at last reached a positive inflection".

Investors in Cable & Wireless Communications will be hoping to see improvement in the full-year results for the telecoms specialist for emerging markets including Panama, the Bahamas and gambling-mad Macau. CWC warned in February that profits in some regions would come in at the low end of expectations, but it is making the business leaner, and recently sold out of Fiji.

Results: Asos; Booker; Cable & Wireless Communications; Dairy Crest; Electrocomponents; Mothercare; Qintiq; SabMiller; United Utilities; Young & Co's.

Friday

Strong results from rivals lately should set the wind fair for full-year results from the property developer Helical Bar and investors will also be seeking an update on its plans to build new shops, offices and 200 flats near St Barts hospital in the City of London. Its chief executive, Michael Slade, sold 200,000 shares at 193p a share on 30 March, which could give an indication of how he sees the market. Doubtless he will argue otherwise. Chairman Giles Weaver also sold a bunch – 36,000 – at 188p a share. Lucky them, the shares have fallen to 177p since.

Results: Helical Bar.

Economics Diary

TODAY: Rightmove house prices for May.

TUESDAY: Public Sector Net Borrowing figures for April. CPI and RPI inflation indexes for April. OECD economic outlook.

WEDNESDAY: Minutes from Bank of England's Monetary Policy Committee meeting in May. Plus Bank agents' summary of business conditions. European Union leaders' summit in Brussels. US homes new sales figures for April.

THURSDAY: Office for National Statistics second estimate of GDP in Q1 2012. ONS index of services for March. BBA mortgage approvals for April. Eurozone manufacturing, services and composite PMI flash estimates for May.

Start your day with The Independent, sign up for daily news emails
PROMOTED VIDEO
ebooks
ebooksA year of political gossip, levity and intrigue from the sharpest pen in Westminster
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: Client Services Manager - Relationship Management - London

£30000 - £32000 per annum + benefits : Ashdown Group: A highly successful, int...

Recruitment Genius: Credit Controller / Customer Service

£18000 - £20000 per annum: Recruitment Genius: This rapidly expanding business...

Recruitment Genius: Tax Assistant

Negotiable: Recruitment Genius: A Tax Assistant is required to join a leading ...

Recruitment Genius: Outbound Sales Executive - OTE £25,000

£16000 - £25000 per annum: Recruitment Genius: This is an exciting opportunity...

Day In a Page

Syria crisis: Celebrities call on David Cameron to take more refugees as one young mother tells of torture by Assad regime

Celebrities call on David Cameron to take more Syrian refugees

One young mother tells of torture by Assad regime
The enemy within: People who hear voices in their heads are being encouraged to talk back – with promising results

The enemy within

People who hear voices in their heads are being encouraged to talk back
'In Auschwitz you got used to anything'

'In Auschwitz you got used to anything'

Survivors of the Nazi concentration camp remember its horror, 70 years on
Autumn/winter menswear 2015: The uniforms that make up modern life come to the fore

Autumn/winter menswear 2015

The uniforms that make up modern life come to the fore
'I'm gay, and plan to fight military homophobia'

'I'm gay, and plan to fight military homophobia'

Army general planning to come out
Iraq invasion 2003: The bloody warnings six wise men gave to Tony Blair as he prepared to launch poorly planned campaign

What the six wise men told Tony Blair

Months before the invasion of Iraq in 2003, experts sought to warn the PM about his plans. Here, four of them recall that day
25 years of The Independent on Sunday: The stories, the writers and the changes over the last quarter of a century

25 years of The Independent on Sunday

The stories, the writers and the changes over the last quarter of a century
Homeless Veterans appeal: 'Really caring is a dangerous emotion in this kind of work'

Homeless Veterans appeal

As head of The Soldiers' Charity, Martin Rutledge has to temper compassion with realism. He tells Chris Green how his Army career prepared him
Wu-Tang Clan and The Sexual Objects offer fans a chance to own the only copies of their latest albums

Smash hit go under the hammer

It's nice to pick up a new record once in a while, but the purchasers of two latest releases can go a step further - by buying the only copy
Geeks who rocked the world: Documentary looks back at origins of the computer-games industry

The geeks who rocked the world

A new documentary looks back at origins of the computer-games industry
Belle & Sebastian interview: Stuart Murdoch reveals how the band is taking a new direction

Belle & Sebastian is taking a new direction

Twenty years ago, Belle & Sebastian was a fey indie band from Glasgow. It still is – except today, as prime mover Stuart Murdoch admits, it has a global cult following, from Hollywood to South Korea
America: Land of the free, home of the political dynasty

America: Land of the free, home of the political dynasty

These days in the US things are pretty much stuck where they are, both in politics and society at large, says Rupert Cornwell
A graphic history of US civil rights – in comic book form

A graphic history of US civil rights – in comic book form

A veteran of the Fifties campaigns is inspiring a new generation of activists
Winston Churchill: the enigma of a British hero

Winston Churchill: the enigma of a British hero

A C Benson called him 'a horrid little fellow', George Orwell would have shot him, but what a giant he seems now, says DJ Taylor
Growing mussels: Precious freshwater shellfish are thriving in a unique green project

Growing mussels

Precious freshwater shellfish are thriving in a unique green project