A Brief Look At The Week Ahead

Energy, media and engineering will be at the forefront this week, although business is expected to be slow again with the summer holidays in full-swing. The most interesting set of results is likely to come from British Energy, which on Wednesday is expected to report a tripling in Q1 pre-tax profits to just over 180m. The biggest profit driver is expected to be a significant rise in wholesale electricity prices. The energy group is also likely to be a beneficiary of the Government's recent proposals for more nuclear power plants. However, more immediate focus will be on any signs of improvements in efficiency, as well as the Government's part sale of its stake in the group, due in the next few months. On the same day, Balfour Beatty, one of Thames Water's partners in the London Underground consortium Metronet, is also set to provide details on a strong first-half performance. The engineer, a dominant contractor in the UK road and rail industry, is tipped to reveal some weakness in the rail market but be upbeat about its performance in the construction market. Balfour, which recently won more than 100m in road-upgrade contracts in Dubai, may provide further details of its purchase of coastal defence contractor Birse. Still in the engineering sector, Weir Group is set to publish annual results on Thursday with a 28.8m pre-tax profit expected, up from 24.4m last year. This has mainly been due to initiatives implemented as part of its three-year restructuring programme and healthy demand from customers in the oil and minerals industry. Performance across its engineering products, defence, nuclear and gas businesses are expected to have shown more modest improvements. Media giant WPP is expected on Friday to reveal an interim profit before interest and tax of 355m, up from 300m last year. Howver, it will be what Sir Martin Sorrell thinks about the state of the advertising market for the coming months that will really be studied. Advertising is tipped to grow this year by its slowest rate since 2002, due to economic uncertainty. Investors will be keen for some reassurance over the outlook for WPP, particularly after it lost the 400m-plus Reckitt Benckiser account to rival Havas. Its strategy of buying small online advertising companies has continued and there could be more on this strategy this week. Sorrell has already indicated slowing growth in Q2, reporting revenue growth of 4.5% for the first five months compared to a 4.8% rise for Q1. Increased activity from the World Cup in June and strength in the Asian markets are expected to have helped offset weakness in the UK during May and April, although the UK ad market is seen as continuing to weaken. Amongst others in the spotlight this week are :- Michael Page International on Monday; Countrywide and British Land on Tuesday; Unibet on Wednesday; BPP on Thursday and Northern Recruitment on Friday. So, another quiet-ish week in prospect.... However, that doesn't mean there won't be opportunites for profit. Good hunting! Greystone (Greystone is Alan English, City Editor at MoneyAM.)

This is my selection for the "UPS" this week EME

Share	Volume	Chart	News	Various
EME price 32.50p	Increased volume for the last 3 days culminating on 6 times the usual last Friday	Share price moving higher from the plateau done recently at around 30p	The company will be briefing the Institunions on the next couple weeks, with reasuring words about how thing are going on last placing was at 130p	Glantal is not dead and further drills are expected, new projects are on the way as the company intends to grow its market cap

CHARTS for EME

2 weeks chartbollinger bands, MACD

3 month

Rather your money than mine old son! All just promises so far, none of which have yet materialised .... If (BIG IF) any ever do, there will still be plenty of time to climb on board

Good morning traders!

In Asia today, the Hang Seng ended the morning down 0.24 points at 17,249.71, while the Nikkei was recently up 225.8 points at 15,790.82.

New York's main oil contract, light sweet crude for delivery in September, was at $73.70 a barrel, down 65 cents from its close of $74.35 in the US Friday.

Happy trading!

G.

Morning all.

Midday Market Roundup

Is onyone being " cynic " ?

EME 50 - 52p +8.5p

The "UPS" stock doing well on rather high volume again 1M

The rise for the last few days is well noticed on the chart

EME 5 days chart

       LUNCH TIME FUN

EME 50 - 53p +9p

finishing at the best of the day

       JOKE OF THE DAY

One day there was a blind man walking down the street
and he smelled oranges, so he bought some fruit.
He smelled some pastries, so he bought some donuts.

Then he walked passed a fish market,
took a hard sniff, and said, "Hello ladies!"

End-of-day Market Roundup