Week Ahead: After the bloodbath at Standard Chartered investors are prepared to be disappointed

 

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The Independent Online

Just how bad will the damage be for Standard Chartered? After the boardroom bloodbath this week, investors are prepared for disappointment when the emerging markets specialist bank reports on full-year performance on Wednesday. Credit Suisse predicts pre-tax profit will have fallen to $5.7bn (£3.7bn) from $6.2bn a year earlier, and warns that the group may need up to $11bn to cover commodity loans that have gone awry.

Meanwhile Barclays will be the last major high-street lender to report on performance when it delivers its annual numbers tomorrow. Numis predicts a weak showing from Barclays’ investment bank after a dull end to the year for rivals. Pre-tax profit is pencilled in at £5.5bn, compared with £5.1bn in 2013.

Alent, Hiscox, Intertek, Keller, Senior and Trinity Mirror have full-year figures today, while Thorntons has half-year numbers. UK PMI manufacturing figures for February are due, followed on Wednesday by the PMI service sector reading. Credit Suisse expects both to show continued improvement.

Tomorrow sees finals from Devro, Direct Line, Glencore, Jardine Lloyd Thompson, Laird, McColl’s, moneysupermarket.com, Pace, Paddy Power, Regus, Travis Perkins, Tullet Prebon and Vesuvius. Clinigen and ISG have six-monthly reports, Ashtead has a third-quarter update and Stagecoach will put out a trading statement.

BBA Aviation, Capital & Regional, Cambian and Carillion have finals on Wednesday, as do Dignity, Fresnillo, Greggs, Legal & General, Lookers, Melrose Industries and Novae. ITV revealed on Friday that it is in talks to acquire Talpa Media, the production company behind The Voice, and investors could hear more about this when the broadcaster puts out its full-year numbers on Wednesday.

Thursday will see annual results from 32Red, Admiral, Aggreko, Arrow Global, Cobham, Genel Energy, Headlam, H&T Group, Hunting, Inmarsat, London Stock Exchange, LSL Property, Schroders and Virgin Money. Betfair has its third-quarter update.

On Friday Marshalls delivers full-year figures.

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