A Brief Look At The Week Ahead

The week is likely to be overshadowed by speculation on how much the Chancellor of the Exchequer is going to be forced to tighten the fiscal reins in his budget offering on Wednesday. Retailers will be much to the fore again this week with Kingfisher, the B&Q owner, facing its shareholders on Tuesday. The City will want to hear progress on plans for turning the chain round when the group posts full-year numbers. Older stores are being sold off, larger ones downsized and new ranges introduced, yet few expect any imminent upturn. The group is expected to post 440m in pre-tax profit, according to the analyst consensus, one-third less than the 661m it earned the year before. Kesa Electricals is another retailer that will be expected to give a clearer idea on its way forward after it rejected a 1.7bn buyout offer from a group of private equity firms last week. Analysts expect the company to report 147m for the year, down from 194m last time, when full-year numbers are revealed on Wednesday. Next posts final figures on Thursday, with pre-tax profits likely to have risen to 422m. But there are concerns that current trading has suffered due to a resurgent Marks & Spencer. Sales could be down as much as 10%. Wolseley, the plumbing company, may provide some respite in its Tuesday interim results, depending on how US business which accounts for roughly a third of its overall turnover, has progressed. Analysts will want an update on the progress made by the company in integrating several bolt-on acquisitions. A pre-tax profit of 364m is expected, against 309m the year before. Also on Tuesday, Weir, the Glasgow-based maker of industrial pumps, which derives half of its turnover from the oil, gas and minerals markets, is expected to publish numbers reflecting the continued strength of those industries. Other companies under scrutiny this week include Lookers on Monday, the company currently fighting off advances from Pendragon; Dignity and RAB Capital on Tuesday; Ted Baker and Alkane Energy on Wednesday; Wm Morrison Supermarkets and Premier Oil on Thursday and House of Fraser on Friday. Looks like another fun week ahead.... Good hunting! Greystone (Greystone is Alan English, City Editor at MoneyAM.)

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

Share	Volume	Chart	News	Various
DES price 39p	High volume all week with special mention last 3 days	Has just breaking from a cup and handle formation bullish short term as all Indicators rising	Rumours of a rig is in its way though not formaly reported co. last month said : preparations for drilling in the North Falkland Basin are now well advanced although timing to commence operations is uncertain	Beneath the Falklands Islands lies 60 billion barrels of oil and DES owns a few tranches, preparations for drilling in Tranches C and D are now well advanced

DES
Charting-

THE MAIN POINT IS THE BREAOUT ON THE CUP AND HANDLE WITH VOLUME

Good morning traders!

In Asia today, the Nikkei closed at a 6-week high, up 285.07 points at 16,624.80, while the Hang Seng reached the midpoint ahead 141.63 points at 15,943.29.

New York's main oil contract, light sweet crude for delivery in April, was up 7 cents at $62.84 a barrel from its close of $62.77 in the US on Friday.

Looks like the Pru will push the FTSE higher early on today.....

Happy trading!

G.

Good morning all.

Morning

morning all.

Morning All,

Insurance sector still quite popular I see :)-

End-of-day Market Summary