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Mon 23rd June

Reports / Data

00.01 Rightmove June House Price SurveyLloyds TSB Trading Statement Unilever Trading Statement Workspace Group (F) PBT 12.6m exp. Chemring Group (I), Sibir Energy (F)

Tue 24th

Alliance & Leicester Trading Statement

HBOS Trading Statement Woolworths AGM &Trading Statement Also Reporting: Goldshield Group (F), Grainger Trust (I), Parkdean Holidays (I)

15.00 June Consumer Confidence 82.7 exp.

US: Palm Inc (Q4)

07.00 EMU German April Construction Orders

Wed 25th

Brambles Trading Statement

Bunzl Trading Statement

Standard Chartered Trading Statement Carnival Corp. Q2 Results

Dixons Group (F) PBT 292m exp. Persimmon Trading Statement

Stagecoach Group (F) PBT 102m exp. Porvair (I), Tribal Group (F), Xansa (F)

13.30 May Durable Goods Orders 0.8% exp 15.00 May New Home Sales 1040k exp. 15.00 May Existing Home Sales 5.86m exp. 19.15 FOMC Rate Announcement

US: General Mills (Q4)

09.00 EMU German June IFO Expectations Index

Ex Dividend: Allied Domecq (5.3), Big Food Group (1.5), Business Post Group (11.3), Dart Group (4.26), Deltron Electronics (0.585), Detica Group (3), Express Dairies (0.6), Game Group (0.55), Land Securities (26), Man Group (14.1), McKay Securities (5.7), New Look Group (6), ScS Upholstery (4), Telecom Pl(3.25), United Utilities (32.1), VT Group (6), Victrex (2.2)

Thu 26th

09.30 Q1 Business Investment q/q P&O Trading Statement Trinity Mirror Trading Statement

DS Smith (F) PBT 78.6m exp. Atkins (F), Berkeley Group (F), Dyson Group (F), First Technology (F), iSOFT Group (F), Northgate Info Solutions (F), Reliance Security (F)

13.30 Q1 Final GDP q/q 1.9% exp. 13.30 Q1 Final Personal Consumption 2.0% exp. 13.30 Initial Jobless Claims (w/e 21/06) 415k exp. 19.00 Minutes of May 6th FOMC Meeting

US: Nike (Q4)

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Fri 27th

09.30 Q1 Revised GDP q/q 0.2% exp. 09.30 Q1 Balance of Payments -2.7bn exp. 10.30 June GfK Consumer Confidence Survey 2.0 exp.Bradford & Bingley Trading Statement Peel Holdings (F), South Staffordshire (AGM),Tops Estates (F)

13.30 May Personal Income 0.3% exp. 13.30 May Personal Spending 0.2% exp. 14.50 June Final Michigan Sentiment Index 87.8 exp.

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Trading Thoughts Sunday 6th June

Banks will be in focus next week starting on Monday when Lloyds issue a trading statement following a difficult trading period.Analysts are seeking a second-quarter bounce in sales growth at Unilever, after a disappointing start to the year. The trading statement, due Monday, will be an important guide to whether the firm can hit its sales target this year. The food division is the focus. Tuesday

HBOS will come under pressure to show that its loan-book expansion of recent years has not slowed, while Alliance & Leicester should report solid progress as it looks to focus on its core strengths. WednesdayDixons reports final results for a period that included a shock profits warning issued after disappointing Christmas sales. Gerrard is looking for profits of 292m against 297m a year earlier. They are one of several companies facing a Competition Commission inquiry into the sale of warranties, should give an update on tradingCarnival Corporation - created from the acquisition of P&O Princess by Cunard owner Carnival - will deliver its first figures on Wednesday following the merger of the two operations. It is likely to have shown some recovery from the start of the year when bookings were hit by war in Iraq and pricing pressures. Thursday Investors will be looking to Stagecoach, owner of South West Trains, for guidance on its future size and shape following recent disposals. The company, which will announce full-year results on Thursday, is streamlining its troubled US operation Coach USA. It has raised more than 119m from sales so far, though these came after the April financial year-end. Analysts expect profits of 102m down from 107m last time. Berkeley's will be in the spotlight when it posts full-year figures on Thursday. The upmarket builder has benefited from the lack of supply in the market, strong affordability and low unemployment. But the capital's market, where Berkeley is strongly represented, has suffered some of the sharpest falls in house prices. Gerrard is looking for pre-tax profits of 221m for the year ended April, compared with 196m a year earlier.

Last week I believed the 4200 long-term resistance line would be to difficult for the FTSE to breach at the current time and the UK market would probably remain in the  4060 to 4180 trading range. This proved to be the case although at the beginning of the week the sentiment was very bullish. Next week I see little change with the FTSE testing 4200 again before falling back into the same channel

Wishing you all the best for the week ahead & looking forward to your thoughts

David

David@FTSEDOW.COM  www.FTSEDOW.com    All the above comments are purely a personal opinion and no investment advice is intended.  Please do your own research.