After Thursday's barrage of company announcements there is the usual Friday let-up. Advertising firms WPP and Aegis will have the stage much to themselves, although the annual general meeting of Barclays could prove lively if the subject gets round to executive remuneration.
In an effort to stave off further banker-bashing from politicians and the press, Barclays' Chief Executive Bob Diamond and Finance Director Chris Lucas are to link half of their 2011 bonuses to the bank's future returns performance, it was announced last Thursday.
According to the BBC's business editor, Robert Peston, however, a number of big British pension funds and insurance companies are still planning to launch a protest vote against the banking group's remuneration policy, and will vote against the re-election of the chair of the remuneration committee at the annual general meeting.
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"This would mean between 15% and 20% of voting shareholders would vote against the re-election of Alison Carnwarth as chair of the remuneration committee and a similar proportion would vote against the remuneration report," Peston claims.
WPP's trading statement will be closely monitored because the group is widely regarded as having incredibly reliable antennae when it comes to predicting which way the wind is blowing in the global economy.
As for its own fortunes, WPP is tipped by UBS to announce organic sales growth of 4% or more.
INTERIM DIVIDEND PAYMENT DATE
Abbey, Air Partner, Henderson EuroTrust, Plexus Holdings
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
GDP (Advance) (US) (13:30)
GFK Consumer Confidence (GER) (07:00)
PMI Retail (EU) (09:00)
PMI Retail (GER) (08:55)
U. of Michigan Confidence (Final) (US) (15:00)
ANNUAL REPORT
Petropavlovsk
IMSS
Aegis Group
EGMS
Flying Brands Ltd Units
AGMS
Alliance Trust, Alternative Energy Ltd. (DI), Argo Group Ltd., Asian Plantation Ltd. (DI), Barclays, Espirito Santo Financial Group SA, Hexaware Technologies Ltd. GDS (Reg S), MHP SA GDR (Reg S), Pearson, Progressive Digital Media Group, Senior, Symphony Environmental Technologies, Ultra Electronics Holdings
TRADING ANNOUNCEMENTS
WPP
FINAL DIVIDEND PAYMENT DATE
Dragon Oil, Hammerson, Law Debenture Corp., LSL Property Services, Maven Income and Growth VCT 5, Moneysupermarket.com Group, New Britain Palm Oil Ltd. (DI), PPHE Hotel Group Ltd, SpaceandPeople
Q1
Bank Millennium SA, Norsk Hydro ASA, Polski Koncern Naftowy Orlen S.A. GDR(Reg S)
JH
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