Friday preview: LIBOR scandal looms over Barclays
After Thursday's avalanche of results it is tempting to suggest that there can't be any FTSE 100 companies left who have still to update the market in July, and yet Friday should see at least four heavyweights report: Anglo American, Barclays, Pearson and United Utilities.
After Thursday's avalanche of results it is tempting to suggest that there can't be any FTSE 100 companies left who have still to update the market in July, and yet Friday should see at least four heavyweights report: Anglo American, Barclays, Pearson and United Utilities.
Interim results for Barclays will be the first set of figures since the company's top brass got carpeted for the bank's involvement in the LIBOR fixing scandal.
Market consensus is for adjusted profit before tax of £3,958m, up from £2,644m at the half-way stage last year, giving earnings per share of 19.2p, up from 12.5p the year before. The interim dividend is set to be held at 2p.
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Barclays has been fined £290m by US and UK authorities in relation to its involvement in the rate-fixing manipulation between 2005 to 2009, but there could be more penalties to come, with the European Union, Canada, Switzerland and Japan all launching their own investigations.
Penguin books and Financial Times publisher Pearson issues results for the first half of 2012, but Sam Hart at Charles Stanley says the results will be of limited significance, given the "highly seasonal nature" of the Education business, which earns the lion's share of the group's profits.
"The focus of investor attention, therefore, will be on outlook comments and any strategy update. Current guidance is for another year of sales and operating profit growth in 2012," Hart suggests.
Charles Stanley is forecasting revenue of £2,590m, earnings before interest and tax of £195m and earnings per share of 16.2p. The dividend is tipped to rise to 14.5p from 14p last year.
INTERIMS
Anglo American, Barclays, Jardine Matheson Holdings Ltd (Singapore), Pearson
INTERIM DIVIDEND PAYMENT DATE
Character Group, Dunedin Smaller Companies Inv Trust, Gooch & Housego, Jupiter Green Inv Trust, Octopus Titan VCT 1, Octopus Titan VCT 2, Octopus Titan VCT 3, Paragon Group Of Companies, Zytronic
QUARTERLY PAYMENT DATE
Real Estate Credit Investments PCC Ltd
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Payments (GER) (07:00)
GDP (Advance) (US) (13:30)
U. of Michigan Confidence (Final) (US) (15:00)
Q2
Samsung Electronics Co Ltd (ATT) GDR (Reg S)
IMSS
United Utilities Group
SPECIAL DIVIDEND PAYMENT DATE
Severn Trent
EGMS
Vietnam Infrastructure Ltd.
AGMS
Bellzone Mining, Camco International LTd., Clontarf Energy , Coms, Ormonde Mining, PayPoint, PayPoint, Plastics Capital, Richland Resources Ltd, TalkTalk Telecom Group , United Utilities Group
FINAL DIVIDEND PAYMENT DATE
Aberdeen All Asia Inv Trust, Acal, Anpario, Aveva Group, Brown (N.) Group, Downing Planned Exit VCT 2 'C' Shares, Downing Planned Exit VCT 2 'D' Shares , Downing Planned Exit VCT 3 'C' Shares, Downing Planned Exit VCT 3 'D' Shares , KCOM Group, Lombard Risk Management, Montanaro European Smaller Companies Trust, Phaunos Timber Fund Ltd., Printing.com, Severn Trent, UK Mail Group , Vertu Motors, Walker Crips Group
JH
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