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UK stock market week ahead : Wm Morrison, Sports Direct, HMV Group

UK stock market week ahead : Wm Morrison, Sports Direct, HMV Group

04/09/2011 by about : Week Ahead - 0 Comments - 1045 words

wc 5th Sept 2011 US market are shut on Monday for a public holiday. A shakey start is as expected in the city, after stock markets saw red again on Friday.

Industrial growth figures continue to weigh on world economies. The Dow Jones fell 2.34% on Friday on further weak US jobs data. UK Manufacturing and industrial production figures for August are released midweek.

A relatively quiet Monday with Fyffes, Kofax, Brady, Staffline Group offering corporate results while on Tuesday, amongst companies reporting, Allocate Software, Alumasc Group, Interior Services Group, Mcbride, Johnson Service Group, Lupus Capital, Total Produce, Ashtead Group and Whitbread.

Two pharma groups report. Veterinary specialist firm Dechra Pharmaceuticals, after a positive trading update in July. Also full-year results from animal breeding biotechnology firm Genus.

Alliance Pharma follow on Wednesday with first-half figures, with analysts expecting a slight fall in earnings although the dividend is expected to be back on the rise.

Also Wednesday A&J Mucklow Group, Advanced Medical Solutions Group, Thorntons, Supergroup, Sports Direct International and micro chip wafer firm IQE, currently 33p. Analysts at Altium recently cut its target price for IQE from 65p to 52P but retains a buy rating.

Mike Ashley's Sports Direct report on Wednesday. The company told shareholders in July that it was it was 'confident of reaching its current year targets' meanwhile Dixons Retail updates after indicating at its prelims in June that supplier support would help it maintain market share, however electrical retailers remain under pressure as consumers cut non-essential spending.

Fashion firm SuperGroup issues its first quarter trading update with Merchant Securities expecting sales growth broadly in line with the trends, although the shares have also been under pressure with some brokers questioning its longer term business plan.

On Thursday Redrow, Premier Farnell, Tikit Group, Atkins, Home Retail Group and interim results from Wm Morrison, expected be strong. The supermarket group is on a forward P/E of 11.7 and currently pays a dividend of 3.6%. Panmure Gordon maintains a Hold recommendation but prefers Sainsbury’s stating the Morrison's growth plan looks less certain.

Argos and Homebase owner Home Retail Group also report With profits sliding for the past three years, and a bad year expected for 2012, the shares have lost three quarters of their value since mid-2007. The most recent dividend forecasts for 2012 suggest around 5.5%, but it's not looking like the most reliable on the market.

Housebuilder Redrow delivers full-year results and should offer indications of the current health in the housing sector.

On Friday Planet Payment, JD Wetherspoon, SThree but the update from HMV Group will be of the most interest in the city.

HMV has acknowledged that it needs to completely overhaul its business model after sales of CD's fell victim to the internet revolution. The company resently arranged financing for its period of rebirth but shareholders are impatient to hear progress of the companies forward directional planning.

Final figures from JD Wetherspoon on Friday will be welcome reading for real ale enthusiasts and shoppers alike as the firm steadfastly maintains it quality ale and value offering in the high street, however analysts are only expecting a flat performance it this reporting session.


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