A Brief Look At The Week Ahead

Supermarkets are likely to be in focus this week. On Tuesday, the Competition Commission will publish its initial findings on the industry, examining whether the grocers act against the public good and revealing any action it might be prepared to take. IG Group, the spread-betting firm, publishes interim results on Monday. Analysts expect few surprises after a December trading update in which IG said turnover had grown strongly in all business units. Also on the slate for Monday, Monsoon, the women's clothing retailer, is expected to be less impressive when it provides interim results. The company announced in September that same-store sales had dropped amid "extremely difficult" market conditions. The other issue hanging over the company is the need for new faces in the boardroom. CEO, Rose Foster, and finance head, Mark McMenemy, announced last year they would be stepping down, but no replacements have yet been named. The start of the bank's reporting cycle gets under way this week, with Northern Rock expected to reflect the increasingly difficult housing market when it presents its annual numbers on Wednesday. UBS forecasts generally solid results from the mortgage bank but weakening margins as last year's rate rises and increased competition bite. They predict annual pre-tax profits of 357m, up from 308m the year before. The results will be the last from Northern Rock's long-standing finance director Robert Bennett, a well-respected figure in the City, who is retiring. The commodities market is likely to get another fillip this week when BHP Billiton, the world's biggest miner, gives its trading update on Thursday. Barclays expect the company to give improved copper, iron and steel production data, and strong numbers for its oil business. Amongst others in the spotlight this week will be Wolseley on Monday; Premier Oil and WH Smith on Tuesday; JD Wetherspoon on Wednesday and Lonmin on Thursday. Good hunting and many thanks to Supermum for returning with her chart view! Greystone PS - Hope you enjoy the new diary format.... (Greystone is Alan English, City Editor at MoneyAM.)

Good morning traders!

In Asia today, the Nikkei closed up 113.74 points at 17,424.18, while the Hang Seng ended the morning up 311.91 points at an all-time high of 20,639.63.

New York Mercantile Exchange's main oil contract, light sweet crude for February delivery, was at $52.38 a barrel, 39 cents higher than its level of$ 51.99 in late trading in the US Friday.

Happy trading!

G.

Morning all.

Terrific US-related trading update from Tanfield (TAN) this morning, timed do go with a New York investors roadshow today/tomorrow.

Morning All
Just gets better at MDW

End-of-day Market Roundup