Date: Friday 11 Jun 2010
Investors are eagerly waiting for the report by the Office for Budget Responsibility on Monday.The document will examine the assumptions the previous government used for its borrowing and growth projections. The figures will form the basis of the government’s Budget decisions on 22 June and the spending review this autumn.
The independent fiscal watchdog, headed by former Treasury official and Bank of England policymaker Alan Budd, was created by the new coalition government.
Supermarket giants Tesco and Sainsbury bring out trading updates next week. The bosses of both outfits have been in the news recently with Tesco boss Sir Terry Leahy surprising the market with his decision to retire next year while Sainsbury boss Justin King had his remuneration details picked over after it was revealed that he received an £8m pay out last year.
Like their supermarket peers Tesco and Sainsbury have been dealing with slowing food price inflation which makes growing like for like sales revenues harder to achieve.
Sainsbury boss King said last month that he expects the environment to remain challenging and consumer spending to remain under pressure. If he's correct, those factors will also hold back Tesco, but the UK's leading supermarket chain may get a bit of a lift from sterling's weakness, as much of its revenue is generated overseas these days.
Cruise ship operator Carnival is another that should have been boosted by sterling’s decline. The company issues a second quarter trading update on Thursday.
On the economic front the newly created Office for Budget Responsibility will release its first report on Monday in which it will make baseline forecasts for economic growth, public borrowing and debt on the basis that the policy status quo is maintained.
Monday June 14
INTERIMS
Pressure Technologies
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Industrial Production (EU) (10:00)
Wholesale Price Index (GER) (07:00)
Bank of Japan MPC Meeting (JPN)
Industrial Production (JPN)
GMS
Brainspark, D1 Oils, EFG-Hermes Holding GDR (Reg S), Garner, Puricore, Stanelco
FINALS
Majestic Wine, Plant Impact
ANNUAL REPORT
BTG
IMSS
Mitie Group
AGMS
Dana Petroleum, Exillon Energy, Medicsight, Metals Exploration, Mitie Group, New Century AIM VCT 2, Octopus Eclipse VCT 2, Sunplus Technology GDR (Reg S), The Mission Marketing Group, Volga Gas
TRADING ANNOUNCEMENTS
RSM Tenon Group
UK ECONOMIC ANNOUNCEMENTS
Nationwide Consumer Confidence
Tuesday June 15
INTERIMS
ATH Resources, Datong, Interbulk Group
QUARTERLY PAYMENT DATE
Canadian General Investments
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
ABC Consumer Confidence (US) (22:00)
Balance of Trade (EU) (10:00)
Employment (EU) (10:00)
Import and Export Price Indices (US) (13:30)
Empire State Manufacturing Survey (US) (13:30)
NAHB Housing Index (US) (15:00)
RBA Interest Rate Minutes (AUS) (00:00)
ZEW Survey (EU) (10:00)
ZEW Survey (GER) (10:00)
Bank of Japan Target Rate
GMS
CDS Oil and Gas
FINALS
Byotrol, CML Microsystems, NewRiver Retail Ltd. (Reg S), Oxford Instruments, Record, Victoria
IMSS
Bellway, Ted Baker, Tesco
EGMS
Ceres Agriculture Fund
AGMS
African Eagle Resources, Alexon Group, Beximco Pharmaceuticals GDR (Reg S), BlackRock Smaller Companies Trust, Ceres Agriculture Fund, EMED Mining Public Ld, Fortune Oil, Ideal Shopping Direct, Nationwide Accident Repair Services, Premier Farnell, Ted Baker, The Family Shariah Fund Ltd., The ReThink Group, Uniq, ViCTory VCT, ZincOx
UK ECONOMIC ANNOUNCEMENTS
Consumer Price Index (09:30)
Retail Price Index (09:30)
RICS Housing Index (15:00)
DCLG UK House Prices (09:30)
Wednesday June 16INTERIMS
Safestore, Servoca
INTERIM DIVIDEND PAYMENT DATE
Diploma
INTERIM EX-DIVIDEND DATE
Intec Telecom Systems, RWS Holdings
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Building Permits (US) (13:30)
Capacity Utilisation (US) (16:15)
Consumer Price Index (EU) (10:00)
Labour Costs (EU) (10:00)
Crude Oil Inventories (US) (15:30)
Harmonised Index of Consumer Prices (EU) (10:00)
Housing Starts (US) (13:30)
Industrial Production (US) (16:15)
MBA Mortgage Applications (US) (12:00)
Producer Price Index (US) (13:30)
Tertiary Industry Index (JPN)
Bank of Japan Monthly Report (JPN)
Machine Tool Orders (JPN)
GMS
Bright Things, Coventry 6.092% Perm Int Bearing Shares
FINALS
Bango, Liontrust Asset Managament, RPC Group, Trifast
AGMS
Aegis Group, Atlas Estates, Biocompatibles International, China Food, Christie Group, Dexion Equity Alternative, Dexion Trading, Ote ADS, Patagonia Gold, Princess Private Equity Holding Ltd., Sport Media Group, State Bank of India GDR (Reg S), Tarsus Group, Vimetco GDR (Reg S)
TRADING ANNOUNCEMENTS
Sainsbury (J)
UK ECONOMIC ANNOUNCEMENTS
Claimant Count Rate (09:30)
RICS Housing Market Survey (09:30)
Unemployment Rate (09:30)
FINAL DIVIDEND PAYMENT DATE
Cello Group, Centrica, Eurasian Natural Resources, Irish Continental Group Units, Lamprell
FINAL EX-DIVIDEND DATE
Acal, Alliance Pharma, Autoclenz, Brulines, Charles Stanley, China Biodiesel International, China Shoto, Edinburgh Inv Trust, Elektron, Hamworthy, JPMorgan European Fledgling Inv Trust, KCOM Group, Northern 3 VCT, Oxford Technology 3 VCT, Oxford Technology VCT, PayPoint, Prezzo, Severn Trent, Sinosoft Technology, Speedy Hire, Tawa, Tex Holdings, Tribal Group, United Utilities Group, Utilico Emerging Markets Ltd., Value and Income Trust, Walker Crips Group, Workspace Group
Thursday June 17
INTERIMS
CareTech Holding, Carnival
INTERIM DIVIDEND PAYMENT DATE
Aberdeen Asset Management, Noble Investments
INTERNATIONAL ECONOMIC ANNOUNCEMENTSBalance of Payments (US) (13:30)
Consumer Price Index(US) (13:30)
Continuing Claims (US) (13:30)
Current Account (US) (13:30)
Initial Jobless Claims (US) (13:30)
Leading Indicators (US) (15:00)
Philadelphia Fed Index (US) (15:00)
ECB Report (EU) (09:00)
Construction Output (EC) (10:00)
Q4
Ashtead Group
GMS
Arriva, Ondine Biopharma, TEG Group
FINALS
Ashtead Group, Atkins (WS), Consort Medical
IMSS
Game Group
EGMS
Cazenove Absolute Equity Ltd.
AGMS
Alea Group Holdings (Bermuda) Limited, DP Property Europe Limited, Faroe Petroleum, Hampden Underwriting, Henderson Private Equity Inv Trust, Heritage Oil, Highland Gold Mining, Immupharma, Kingfisher, Ondine Biopharma, Slingsby H.C, Summit Corporation, Tawa, Toye and Co, Work Group
UK ECONOMIC ANNOUNCEMENTS
CBI Industrial Trends Surveys (11:00)
Internet Retail Sales (09:30)
Retail Sales (09:30)
FINAL DIVIDEND PAYMENT DATE
Cryo-Save Group, Derwent London
Friday June 18
INTERIM DIVIDEND PAYMENT DATE
Carluccio's, Lowland Investment Co., Sage Group, Wichford
QUARTERLY PAYMENT DATE
M&G Equity Inv Trust Income Shares
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Producer Price Index (GER) (07:00)
Bank of Japan MPC Minutes (JPN)
GMS
Bglobal, F&C Asset Management, Kalimantan Gold
ANNUAL REPORT
BSS Group
EGMS
CDS Oil and Gas, Japan Residential Investment Company
AGMS
Aer Lingus Group, British American Inv Trust, Cathay Financial Holding Co. GDR (Reg S), First Artist Corporation, Kalimantan Gold, Narborough Plant, NTT DoCoMo Inc, Rosneft GDRS (Reg S), Shanta Gold, Shin Kong Financial Holdings Co Ld GDR (Reg S)
UK ECONOMIC ANNOUNCEMENTS
M4 Money Supply (estimate) (09:30)
M4 Sterling Lending (estimate) (09:30)
Public Sector Finances (09:30)
Trends in Lending (09:30)
FINAL DIVIDEND PAYMENT DATE
Adventis Group, Carillion, Cayenne Trust, Chime Communications, Intertek Group, Kentz Corporation, Kingfisher, Robert Walters, Ted Baker
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