A Brief Look At The Week Ahead

This week will be dominated by blue chip miners, banking's corporate big guns and the Bank of England's Monetary Policy Committee. The MPC meets this week, and a number of economists believe interest rates could rise by 25 basis points to 4.75%, given the strong economic data in recent weeks. The banks reporting this week are expected to follow the trend set by their smaller rivals of strong sales, tight cost control but increased bad debt charges. How the market reacts will depend on the balance between those factors. On Monday, HSBC is set to kick things off by reporting a healthy rise in interim earnings, particularly in corporate banking. Last week it acquired Panama's Banistmo for $1.77bn and may provide further details on this deal. This will be the last results announcement for Stephen Green as CEO before he becomes chairman. Colleague Michael Geoghegan will take his place. Management changes will also be evident at HBOS with CEO, James Crosby, leaving tomorrow. This means his replacement, chief operating officer Andy Hornby, will deliver Tuesday's interims. Investors will be looking for confirmation that HBOS is still on track to reap an annual pre-tax profit of 5.2m, up from 4.8m last year. On Wednesday, Lloyds TSB is expected to reveal a strong improvement on the high street under the guidance of its retail boss, the seasoned US banker Terri Dial. However, it has already flagged a downturn in consumer lending and a rise in bad debt charges. Barclays is another bank looking to improve retail sales. The company announced the restructuring of its branch network under another US banker, Deanna Oppenheimer, a month ago. Having long struggled to integrate its 5.3bn purchase of the Woolwich building society, on Thursday the market will be looking for evidence that its retail business is starting to improve. Other businesses, such as its investment arm Barclay Capital, are likely to have performed strongly. Away from financials, the Boots/Alliance UniChem merger is expected to complete tomorrow, after being approved by shareholders earlier this month. The merged Alliance Boots will then release the Boots Q1 update, with sales expected to be up 3.5%, and Alliance Unichem's interims, which are also likely to be strong. On to the mining sector... Xstrata, which is moving closer to a takeover of nickel miner Falconbridge, is likely on Wednesday to show it has benefited from the strong demand for copper and zinc, surging commodity prices and cost savings in the first half. The following day, Rio Tinto's interims are expected to be strong thanks to its iron ore and copper businesses. A bullish outlook and discussion of further buybacks and deals could also be on the cards. Then, on Friday, it is the turn of Anglo American, tipped as a bidder for Inco (a failed Falconbridge suitor) to report a strong first half. However, the focus will be on the group's sell-off of several units as part of a strategy to refocus on its core businesses. Amongst others in the spotlight this week are :- Pearson on Monday; Geo. Wimpey on Tuesday; Cadbury Schweppes Wednesday; Unilever Thursday and British Airways on Friday. So, another week of heavyweight action. Sounds like fun! Good hunting! Greystone (Greystone is Alan English, City Editor at MoneyAM.)

Good morning traders!

In Asia today, the Hang Seng ended the morning up 70.68 points at 17,025.72, while the Nikkei was recently up 120.35 points at 15,463.22.

New York's main contract, light sweet crude for September delivery, was down 24 cents at $73 a barrel.

Early broker notes:

GREAT PORTLAND ESTATES CUT TO 'NEUTRAL' VS 'BUY' AT MERRILL LYNCH
KELDA, SEVERN TRENT CUT TO 'REDUCE' VS 'NEUTRAL' AT UBS

Happy trading!

G.

Morning all.

Good Morning all

Not trading today...

Morning all,

Every one's going to the Birmingham meeting this afternoon LW -);

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