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A Brief Look At The Week Ahead | |
Another busy week of reporting will initially be overshadowed by fallout from the surprise news on Friday of an approach for Boots. It would appear it was not a complete surprise to everyone and the FSA is coming under pressure to investigate share dealings immediately ahead of the company's staement. Group 4 Securicor, the world's number two security company, could be on the deal trail. It reports annual results on Tuesday. CEO, Nick Buckles, has previously said he is willing to spend up to 200m annually to build the business. After last month's purchase of a stake in a South African cash handler, analysts will want to know where else he is looking. Also on Tuesday, Countrywide, the UK's largest estate agency company, will provide annual results. Countrywide, which recently accepted a 1bn offer from US buyout group Apollo Management, could get a fresh bid from venture capital giant 3i, which had earlier tried and failed to buy the company. There is little chairman Harry Hill will be able to say about the situation, but that won't stop the City from asking. Amongst the miners, after a year in which copper prices surged to record highs, two of the biggest producers of the commodity will show off that rich seam this week. On Tuesday Antofagasta, which owns three large mines in Chile, is expected by brokers Charles Stanley to report $2.7bn in pre-tax profits for the year, nearly double the $1.5bn it earnt the year before. It will be a similar story for Kazakhmys on Thursday when the Kazakhstan miner will report $2.4bn in earnings before expenses, well ahead of the $1.07bn posted in 2005, according to analyst consensus. The company will also be pressed for more detail on its recent acquisition of Dostan Temir, a company with rights to oil in western Kazakhstan. The company had said before that it would look to move into other commodities, but this was its first acquisitive move. Analysts will want to know if more such deals are in the offing. Prudential will finally unveil its grand plan to revitalise its moribund UK insurance business on Thursday. While speculation has been rampant that it could jettison the unit altogether, analysts expect less drastic action to put it on a footing similar to its American and Asian operations, which should show very strong growth at this week's results. Amongst others in the spotlight this week will be Bovis Homes and Whatman on Monday; NSB Retail Systems on Tuesday; Legal & General on Wednesday; Alfred McAlpine and Wm Morrison on Thursday and Flying Brands on Friday. For day traders, to whom timing is everything, don't forget that US clocks sprang forward an hour this weekend. Good hunting! PS Thanks as always to Supermum for her weekly chart view and Kyoto and Digger for their great news input every day.... Greystone (Greystone is Alan English, City Editor at MoneyAM.) |
WGB price 42.25p | 4 times the usual last Friday mosly buying for the last couple days | Bouncing last Friday after retracement of 23%, Indicators were at oversold and now rising, MACD ready for divergence | 6 weeks ago the company said: profits to be ahead of expectations, at Interims they were back on profits after 6 years on the red, on a single figure PE for next year | Company is now profitable and cash generative business with all their brands into growth now. Directors were buying heavy the same day as the Interim results came out |
Director Dealings - Friday 9 March, 2007 |