Part-nationalised lender Royal Bank of Scotland (RBS) had a good day on Thursday, advancing in the slipstream of Lloyds after the latter's well-received results. RBS's own third quarter trading update, therefore, will probably need to be something special to live up to expectations raised by Lloyds.
Nomura says that the things to watch out for in RBS's third-quarter statement on Friday include: an improvement in core trends, particularly in NIMs (net interest margins); stable revenues in GBM (Global Banking and Markets); muted improvement in asset quality; and £350 in PPI provisions.
Friday will also see the first set of results from Direct Line Insurance Group, the insurance arm RBS span off last month. RBS still owns a large chunk of Direct Line shares and could certainly do with the first set of results setting the tone for more divestments further down the road.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
INTERIM DIVIDEND PAYMENT DATE
Advanced Medical Solutions Group, BBA Aviation, Brammer, F&C Private Equity Trust, GVC Holdings, Judges Scientific, Motivcom, New Britain Palm Oil Ltd. (DI), Tandem Group, Weir Group
QUARTERLY PAYMENT DATE
Investors Capital Trust 'A' Shares
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Factory Orders (US) (15:00)
Goods Orders (US) (15:00)
Non-Farm Payrolls (US) (13:30)
PMI Manufacturing(GER) (08:55)
Unemployment Rate (US) (13:30)
Q3
Millennium & Copthorne Hotels
GMS
Stellar Resources
IMSS
Admiral Group, Direct Line Insurance Group, Meggitt, Royal Bank of Scotland Group
AGMS
Genesis Emerging Markets Fund Ltd., Rare Earth Minerals
FINAL DIVIDEND PAYMENT DATE
Pacific Horizon Inv Trust, Zetar
JH
-
Why CEOs deserve a pay riseOpinion The CEOs of big companies often come under fire for being grossly overpaid. But the truth, as per some economists, is the opposite. Do they merit a pay rise?
-
Europe prepares to stand alone as Trump turns on UkraineSupport for old military alliances is wavering in the US under Donald Trump. Europe’s leaders are rushing to fill the void. Simon Wilson reports
