A Brief Look At The Week Ahead

In another week light on company results, the main focus will doubtless be the renewed conflict in the Middle East and the knock-on consequences it will have for crude oil prices and the general demeanor of investors. Financial services group Resolution will be holding an EGM on Monday for shareholders to vote on its 3.6bn purchase of Abbey National's life operations, unveiled last month. No opposition is expected to the deal and management is expected to be upbeat on trading conditions at the meeting. On Tuesday it is the turn of British Airways to hold its AGM. The flag carrier is expected to face flack from shareholders after it recently revealed that it was being investigated by regulators and faced legal action over price-fixing allegations surrounding fuel surcharges. The airline is, however, expected to be fairly upbeat in its trading assessment after reporting that passenger traffic in June was up 6.6%. Goldman Sachs expects BA's revenue growth to remain the best in the sector. Rio Tinto's production volumes are expected to be strong, particularly in iron ore and copper, when it provides its latest update on Wednesday. Many analysts are upbeat about Rio's prospects, despite adverse exchange rates. At the same time, chartists see danger signs in the current picture. On the same day, JD Wetherspoon will provide a Q4 trading update. Like-for-like sales, which exclude new pubs, are likely to be down by 2% to 3%, though the World Cup helped to stem the decline after JD Wetherspoon installed TV screens in its outlets for the first time. With conditions slowly improving, analysts are now looking for a full-year decline of only 0.5%. PartyGaming is expected to update the market on Friday. Revenue for the most recent quarter is likely to be up 48% on the same period last year. However, the online poker firm is expected to be down 7% on the previous quarter as market growth comes under pressure. The effects of threat of US legislation to curb online gambling may also figure in any outlook statement. Other companies seeking attention this week include Charles Stanley and Luminar on Tuesday; LogicaCMG on Wednesday; Capita and Stanley Leisure on Thursday with Uniq on Friday. A week to be wary with the world in so much turmoil. The market has not been easy to read of late and I don't see the outlook becoming any clearer in the next few days. Take care out there! Many thanks to Supermum who returns with her weekly chart view, after a well-earned vacation. Good hunting! Greystone (Greystone is Alan English, City Editor at MoneyAM.)

Interesting, but take a look at SER.. way way undervalued, get in before the tipsters catch on

Cheers Alan.

Good morning traders!

In Asia today, the Hang Seng ended the morning down 151.79 points at 15,983.92, while the Nikkei is closed for the day.

New York's main oil contract, light sweet crude for delivery in August, was at $77.35 per barrel, against $77.03 in late trade in the US on Friday. During the New York session it touched a fresh all-time high of $78.40.

Brent North Sea crude for August was at $77.27. Brent hit a record $78.03 Friday.

Happy trading!

G.

Morning all from a very hot Snowdonia.

Midday Market Summary

Druid - I hope you've got plenty of cool stuff refrigerating ahead of the heat... ;-)

End-of-day Market Summary

keep am eye on SER chaps..