Thursday preview: Misys, London Stock Exchange

The management of financial software provider Misys will take a break from batting away questions about a potential takeover of the company to update the market on the operational side of things on Thursday

"Given Misys's end markets, Banking and Capital Markets, don't be surprised if you see a downbeat outlook statement, however, Misys is a 'glass half full' type and so will be keen to stress the positives," reckons broker Panmure Gordon.

"As we noted previously, that it has been hiring engineers and implementation staff in Dublin (i.e. BankFusion) suggests to us that: (1) pipeline build continues; and, (2) it is looking to accelerate the implementation cycle (we see a very large BankFusion opportunity as banks get through their current woes and start doing banking. Until then, revenue will be on 'bits and pieces' (i.e. moves/add/changes)," the broker suggested, adding that "takeover talks will keep the 'pep' in the share price and a good narrative on Bankfusion will cheer investors."

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The broker is predicting interim revenue of £202m and operating profit of £35.1m, up from £161m and £23m, respectively, at the interim stage the previous year. "The big swing in the numbers is the Sophis revenue where we see £30.2m, and BankFusion where we assume £7.8m revenue," Panmure Gordon explained.

Assuming the protestors camped close to the headquarters of the London Stock Exchange (LSE) don't kidnap the messenger, the LSE should release an interim management statement at 7:00am. A study conducted by the accountancy firm PricewaterhouseCoppers (PwC) revealed that there were only 53 flotations on the LSE and its little brother, the Alternative Investment Market (AIM) last year, down from 44 the year before, so this revenue stream for the bourse operator is not particularly vibrant.

The new listings raised an aggregate of £12.2bn in fresh capital, but more worrying for the LSE is that there was only one listing, mining firm Polymetal, in the final quarter of 2012, down from four in the corresponding quarter of 2011.

INTERIMS

Angle

INTERIM DIVIDEND PAYMENT DATE

Cable & Wireless Worldwide, Dairy Crest Group, Tongaat-Hulett Ltd.

QUARTERLY EX-DIVIDEND DATE

Marsh & Mclennan Cos Inc.

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Bloomberg Consumer Confidence (US) (14:45)

Continuing Claims (US) (13:30)

Durable Goods Orders (US) (13:30)

Initial Jobless Claims (US) (13:30)

Leading Indicators (US) (15:00)

New Homes Sales (US) (15:00)

FINALS

Gem Diamonds Ltd. (DI), Safestore Holdings

IMSS

easyJet, Invensys, London Stock Exchange Group

EGMS

NB Distressed Debt Investment Fund Ltd.

AGMS

Euromoney Institutional Investor, Impax Asset Management Group, ITE Group, Lonmin, Mitchells & Butlers, Ultrasis

TRADING ANNOUNCEMENTS

Petropavlovsk

UK ECONOMIC ANNOUNCEMENTS

CBI Distributive Trades Surveys (11:00)

FINAL DIVIDEND PAYMENT DATE

Aberdeen Asset Management, Alternative Networks

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