The Week Ahead: US and Europe set to hold back SABMiller

With its attempted takeover of Foster's seemingly stalled, SABMiller's trading performance will be in focus this week when the world's second-biggest brewer releases its update for the first quarter on Thursday.

The group, whose range of beverages include Grolsch and Pilsner Urquell, had a A$9.5bn (£6.2bn) approach for its rival rejected last month. However, there have been few clues since over if and when it will make another play for the Australian company, which also owns Victoria Bitter, so any hints from the company on its next step will be closely examined.

In terms of its figures, which are being released at the same times as its AGM, the company raised its forecasts earlier in the month for its biggest market, Latin America, thanks in part to price cuts. JPMorgan Cazenove believes SABMiller will reveal that its operations in Africa have also continued to impress, but fears this will be overshadowed by tough trading in Europe and the States.

The broker's analysts say that in the former, its volumes are likely to have grown just 2 per cent against what they call a "very easy" comparative, adding that it "continues to suffer from intense competition from Carlsberg and Heineken".

Meanwhile, with regards to SABMiller's outlook statement, they feel it might "take the opportunity to reiterate its decision to pursue an 'affordability agenda' this year by being more selective in its price increases in certain regions to promote volume growth".



Today

SThree starts the week by releasing its results for the first half of the year, with the recruitment company's figures coming after recent updates from a number of its listed peers. Although it admits the signs have been that "the UK is clearly still tough", Peel Hunt says "the read-across from European markets was much better".

The broker's analysts pick out the Netherlands – one of SThree's most important regions – as seeming particularly positive, while warning that "upgrades [are] unlikely at this stage in the year".

Results/Updates: SThree.



Tomorrow

IG Group announces its full-year figures on Tuesday, with the spread-betting company having predicted last month that its profit for the twelve months will have increased 3 per cent. Espirito Santo believes that if IG's trading revenues do increase 7 per cent, as forecast, this would be "relatively robust" given such headwinds as the periods of volatility seen in the markets over the year.

Collins Stewart's Robin Savage, meanwhile, expects the group's forecasts for the next two financial years to be trimmed, predicting the results will "reveal cost pressures", and adds that IG's management are likely "to cool expectations of dividend growth above earnings growth".

Results/Updates: IG Group, Intermediate Capital and Land Securities.



Wednesday

Results/Updates: BHP Billiton, BTG, International Personal Finance, the London Stock Exchange and Severn Trent.



Thursday

With the soft drinks group's share price having plummeted nearly 15 per cent since the start of June, Britvic will be hoping its third-quarter interim management statement on Thursday can provide some fizz. However, Citigroup believes it will not contain "anything materially different" from its update for the previous three months, saying it "is unlikely to provide better visibility on [the next financial year's] earnings".

The broker's analysts predict the group, whose brands include Robinsons and Tango, will announce revenues of £354m for the period, and they expect its stills unit to maintain its improvement while saying its carbonates business will have seen a slowdown. They also add that, although the company will have benefited from the good weather enjoyed at the start of the quarter, the recent rain will have neutralised any of the positive effects from this.

Also in focus on Thursday will be Capita as the outsourcer releases its half-year results, and Shore Capital's Robin Speakman expects it to show that last year's "tough trading environment" has continued. "New contract wins thus far in [the financial year] have been disappointing to our minds," adds the analyst, who said he believes its outstanding order book will have shrunk by as much as £1bn.

Results/Updates: Britvic, Capita, De La Rue, Great Portland Estates, Halfords, Howden Joinery, Kingfisher, Mitchells & Butlers, Petropavlovsk and SABMiller.



Friday

Results/Updates: Beazley, Cable & Wireless Communications, Close Brothers, United Utilities and Vodafone.

ECONOMICS DIARY

Today

Nationwide consumer confidence index; Rightmove house price index.



Tomorrow

Eurozone construction output; Eurozone ZEW survey; US building permits; US housing starts.



Wednesday

Bank of England's Monetary Policy Committee minutes; Eurozone consumer confidence; US existing home sales.



Thursday

Public sector finances; Retail sales figures; US house price index; US Philadelphia Federal Reserve survey.



Friday

Eurozone industrial new orders.

Arts and Entertainment
books
Voices
Caustic she may be, but Joan Rivers is a feminist hero, whether she likes it or not
voicesShe's an inspiration, whether she likes it or not, says Ellen E Jones
Arts and Entertainment
The Doctor and the Dalek meet
tvReview: Doctor Who Into the Dalek more than compensated for last week's nonsensical offering
Sport
Diego Costa
footballEverton 3 Chelsea 6: Diego Costa double has manager purring
PROMOTED VIDEO
Life and Style
3D printed bump keys can access almost any lock
techSoftware needs photo of lock and not much more
Arts and Entertainment
The 'three chords and the truth gal' performing at the Cornbury Music Festival, Oxford, earlier this summer
music... so how did she become country music's hottest new star?
Life and Style
The spy mistress-general: A lecturer in nutritional therapy in her modern life, Heather Rosa favours a Byzantine look topped off with a squid and a schooner
fashionEurope's biggest steampunk convention heads to Lincoln
News
Dr Alice Roberts in front of a
peopleAlice Roberts talks about her new book on evolution - and why her early TV work drew flak from (mostly male) colleagues
News
i100
Arts and Entertainment
Star turns: Montacute House
tv
News
ebooksAn evocation of the conflict through the eyes of those who lived through it
News
i100Steve Carell selling chicken, Tina Fey selling saving accounts and Steve Colbert selling, um...
Arts and Entertainment
Unsettling perspective: Iraq gave Turner a subject and a voice (stock photo)
booksBrian Turner's new book goes back to the bloody battles he fought in Iraq
News
The Digicub app, for young fans
advertisingNSPCC 'extremely concerned'
News
i100
Arts and Entertainment
Some of the key words and phrases to remember
booksA user's guide to weasel words
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

Law Costs

Highly Attractive Salary: Austen Lloyd: BRISTOL - This is a very unusual law c...

Network Engineer (CCNP, CCNA, Linux, OSPF, BGP, Multicast, WAN)

£35000 per annum: Harrington Starr: Network Engineer (CCNP, CCNA, Linux, OSPF,...

DevOps Engineer (Systems Administration, Linux, Shell, Bash)

£50000 per annum: Harrington Starr: DevOps Engineer (Systems Administration, L...

Data Scientist (SQL, PHP, RSPSS, CPLEX, SARS, AI) - London

£60000 - £70000 per annum: Harrington Starr: A prestigious leading professiona...

Day In a Page

The other Mugabe who is lining up for the Zimbabwean presidency

The other Mugabe who is lining up for the Zimbabwean presidency

Wife of President Robert Mugabe appears to have her sights set on succeeding her husband
The model of a gadget launch: Cultivate an atmosphere of mystery and excitement to sell stuff people didn't realise they needed

The model for a gadget launch

Cultivate an atmosphere of mystery and excitement to sell stuff people didn't realise they needed
Alice Roberts: She's done pretty well, for a boffin without a beard

She's done pretty well, for a boffin without a beard

Alice Roberts talks about her new book on evolution - and why her early TV work drew flak from (mostly male) colleagues
Get well soon, Joan Rivers - an inspiration, whether she likes it or not

Get well soon, Joan Rivers

She is awful. But she's also wonderful, not in spite of but because of the fact she's forever saying appalling things, argues Ellen E Jones
Doctor Who Into the Dalek review: A classic sci-fi adventure with all the spectacle of a blockbuster

A fresh take on an old foe

Doctor Who Into the Dalek more than compensated for last week's nonsensical offering
Fashion walks away from the celebrity runway show

Fashion walks away from the celebrity runway show

As the collections start, fashion editor Alexander Fury finds video and the internet are proving more attractive
Meet the stars of TV's Wolf Hall... and it's not the cast of the Tudor trilogy

Meet the stars of TV's Wolf Hall...

... and it's not the cast of the Tudor trilogy
Weekend at the Asylum: Europe's biggest steampunk convention heads to Lincoln

Europe's biggest steampunk convention

Jake Wallis Simons discovers how Victorian ray guns and the martial art of biscuit dunking are precisely what the 21st century needs
Don't swallow the tripe – a user's guide to weasel words

Don't swallow the tripe – a user's guide to weasel words

Lying is dangerous and unnecessary. A new book explains the strategies needed to avoid it. John Rentoul on the art of 'uncommunication'
Daddy, who was Richard Attenborough? Was the beloved thespian the last of the cross-generation stars?

Daddy, who was Richard Attenborough?

The atomisation of culture means that few of those we regard as stars are universally loved any more, says DJ Taylor
She's dark, sarcastic, and bashes life in Nowheresville ... so how did Kacey Musgraves become country music's hottest new star?

Kacey Musgraves: Nashville's hottest new star

The singer has two Grammys for her first album under her belt and her celebrity fans include Willie Nelson, Ryan Adams and Katy Perry
American soldier-poet Brian Turner reveals the enduring turmoil that inspired his memoir

Soldier-poet Brian Turner on his new memoir

James Kidd meets the prize-winning writer, whose new memoir takes him back to the bloody battles he fought in Iraq
Aston Villa vs Hull match preview: Villa were not surprised that Ron Vlaar was a World Cup star

Villa were not surprised that Vlaar was a World Cup star

Andi Weimann reveals just how good his Dutch teammate really is
Bill Granger recipes: Our chef ekes out his holiday in Italy with divine, simple salads

Bill Granger's simple Italian salads

Our chef presents his own version of Italian dishes, taking in the flavours and produce that inspired him while he was in the country
The Last Word: Tumbleweed through deserted stands and suites at Wembley

The Last Word: Tumbleweed through deserted stands and suites at Wembley

If supporters begin to close bank accounts, switch broadband suppliers or shun satellite sales, their voices will be heard. It’s time for revolution