Wednesday preview: Barratt Developments, Inflation Report

House builder Barratt Developments is expected to issue a trading update at its annual general meeting on Wednesday.

Broker Northland Securities thinks particular attention will be focused on the site opening and sales rate per site figures. Barratt's peers have reported a stronger than expected sales period in autumn and this should be reflected in Barratt's statement, the broker believes.

The broker forecasts that the third quarter sales rate will be ahead of the preceding quarter by between 5% and 7% on a slightly greater number of active sites at around 380, versus 377 at the end of June.

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"Net debt is set to rise as the new sites draw down working capital ahead of securing sales and we would expect debt to be around £360m (end June 2011: £322.6m) with gearing of 19% (June 2011: 16%)," Northland said.

Turning to the UK economy, Tuesday's inflation figures were better than many pundits had expected, but Bank of England governor Sir Mervyn Douglas still had to write a letter to the Chancellor of the Exchequer, George Osborne, explaining what the Bank's Monetary Policy Committee's view is on the future direction of inflation, and how long it will be before it moves back down to the government's 2% target.

On Wednesday, the market will get a more detailed view of the Bank's inflation predictions, as the central bank releases its Inflation Report. Many economists expect that the Bank will say that in two to three years time the concern will be that the inflation rate is below target, rather than well above it.

The Bank will also reveal its expectations for economic growth, which might give a clue whether the latest round of quantitative easing is likely to be beefed up.

INTERIMS

Alterian, Hampson Industries, Harvard International, ICAP, London Stock Exchange Group, Speedy Hire, UK Mail Group

INTERIM DIVIDEND PAYMENT DATE

Centrica

INTERIM EX-DIVIDEND DATE

Andrews Sykes Group, Carphone Warehouse Group, DCC, Great Portland Estates, Hansa Trust, HICL Infrastructure Company Ltd., Marks & Spencer Group, Prime People, Printing.com, Sainsbury (J), Synergy Health, Vedanta Resources, Vodafone Group, Wynnstay Properties

QUARTERLY EX-DIVIDEND DATE

M Winkworth

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Capacity Utilisation (US) (16:15)

Consumer Price Index(EU) (10:00)

Consumer Price Index(US) (13:30)

Crude Oil Inventories (US) (15:30)

Industrial Production (US) (16:15)

MBA Mortgage Applications (US) (12:00)

New Car Registrations (EU) (10:00)

Q3

New World Resources A Shares, New World Resources NV A Shares

GMS

Anglogold Ashanti Ltd., Downing Planned Exit VCT 2, Downing Planned Exit VCT 3

FINALS

United Drug

IMSS

Avis Europe, Beazley, Centaur Media, Melrose, Paddy Power, Unite Group

SPECIAL EX-DIVIDEND PAYMENT DATE

Gleeson (M J) Group, Rotork, Vodafone Group

EGMS

GVC Holdings

AGMS

Allergy Therapeutics, Barratt Developments, Camco International LTd., Cash Converters International Ltd, Kier Group, Mobile Streams, Northamber

UK ECONOMIC ANNOUNCEMENTS

BoE Inflation Report (09:30)

Claimant Count Rate (09:30)

Unemployment Rate (09:30)

FINAL DIVIDEND PAYMENT DATE

Hargreaves Services

FINAL EX-DIVIDEND DATE

Air Partner, British Sky Broadcasting Group, Euromoney Institutional Investor, Fidelity Special Values, JPMorgan Global Emerging Income Trust, JPMorgan Smaller Companies Inv Trust, Lok'n Store Group, Octopus Eclipse VCT 1, Octopus Eclipse VCT 3, Octopus Eclipse VCT 4, Sherborne Investors (Guernsey) 'A' Shares, Tristel

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