A Brief Look At The Week Ahead

This week, all eyes will be on the Bank of England's Monetary Policy Committee meeting on Wednesday and Thursday to see if the UK will follow the Federal Reserve's lead in raising rates. Most economists do not expect an increase, leaving rates at 4.5%, for another month at least National Express will be discussing its current trading performance on Monday. Analysts will look for improvement in profit margins and indications that the company may have to raise bus ticket prices to cover fuel costs, as rivals such as Stagecoach has already warned it may have to. Wednesday is likely to provide some entertainment, with a potentially explosive AGM at Matalan providing one of the main shows. The chairman and founder, John Hargreaves, confirmed late last week that he was mulling over a takeover approach for the retail chain. However, Hargreaves said there was "no certainty" that a bid would actually go ahead after being forced, following a terse board meeting, to update the market on his plans . There have been mutterings of "holding the board to ransom" over the weekend and ongoing disatisfaction over the company's dividend policy. Sounds like a fun place to be. BP, which has been at the centre of price-fixing allegations in the US, will update the market with its Q2 figures on Wednesday. BP faces charges after a US regulatory watchdog filed civil proceedings alleging price manipulation in the TET propane market. Otherwise, analysts appear comfortable with the group's performance and are expecting the first quarter's strong production figures to continue, with net earnings at around $5.5bn. Back on the high street, HMV will unveil its annual results on Thursday, with the market particularly keen to find out just how bad current trading really is. HMV is expected to have been hit by product launches that were put on hold until after the World Cup. Investors will also be looking for reassurance that its lengthy 63m purchase of Ottakar's is to be completed without further delays, and for an update on its store remodelling plans. HMV is expected to produce a pre-exceptional pre-tax profit of 98m, compared to 123.8m last year, with its bookstores, Waterstone's, and its flagship music stores suffering from tough trading conditions. Remaining in retail, Tesco, which holds its annual meeting on Friday, faces opposition from shareholder group Pirc over its executive incentive schemes. Pirc is unhappy about the performance targets set out in the supermarket group's long-term incentive schemes. Pirc argues that the schemes should include two different performance conditions. Tesco will also update on trading, but few surprises are expected following an announcement on current market conditions in June. Other companies in the limelight this week include ASOS and Alphameric on Tuesday; Rightmove on Wednesday; Premier Foods and Redrow on Thursday with easyJet on Friday. Sounds as though things are beginning to warm up. Have fun! Supermum is taking a break for a few weeks but will return with her Weekly Chart View later in the Summer. Good hunting! Greystone (Greystone is Alan English, City Editor at MoneyAM.)

i think you should check the ex divis - i believe there are incorrect (big time).

Good morning traders!

In Asia today the Hang Seng was last trading up 71.83 points at 16,339.45 with the Nikkei up 91.79 points at 15,596.97.

Early broker notes:

JARDINE LLOYD THOMPSON UPGRADED TO 'EQUAL-WEIGHT' BY MORGAN STANLEY
KELDA UPGRADED TO 'OVERWEIGHT' FROM 'NEUTRAL' BY HSBC

Happy Monday!

G.

Thanks taxi - I'll take a look

Midday Market Summary

End-of-day Market Summary