Friday preview: Economic slowdown to weigh on Electrocomponents

Electronics and maintenance products distributor Electrocomponents holds its annual general meeting (AGM) on Friday, and shareholders will be hoping that the recent revival in fortunes has continued.

Back in May, the group said there had been a switch-round in recent weeks with growth in the UK compensating for a levelling out in international sales.

However, Peel Hunt is not especially confident that the AGM will be a cheery occasion. "With the global macro-economic environment having deteriorated further, especially in Asia, we see increasing pressure on forecasts," the broker said.

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The broker is a bit more optimistic about the longer term. "Electrocomponents is a market leader and will likely benefit long-term from tough trading conditions as competitors fail, but in the short term we think global macro headwinds will weigh on the shares," it said.

INTERIM DIVIDEND PAYMENT DATE

Britvic, Scottish Inv Trust, Topps Tiles, United Drug

QUARTERLY PAYMENT DATE

Africa Opportunity Fund Ltd., Schlumberger Ltd., Yamana Gold Inc.

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Producer Price Index (US) (13:30)

U. of Michigan Confidence (Prelim) (US) (15:00)

IMSS

Experian

AGMS

British Land Co, Capital Gearing Trust, Electrocomponents, Insetco, Invensys, Invesco Income Growth Trust, Lombard Risk Management, Saltus European Debt Strategies Ltd., Value and Income Trust

FINAL DIVIDEND PAYMENT DATE

3i Infrastructure, C&C Group, Chamberlin, Harvey Nash Group, IFG Group, Intermediate Capital Group, Investment Company, London & Stamford Property , Marks & Spencer Group, NewRiver Retail Ltd. (Reg S), Northern 3 VCT, Northern Investors Co, Sainsbury (J), Tribal Group, Whitbread

JH