Drugs giant GlaxoSmithKline issues third quarter figures on Wednesday with the market expecting revenue to decline but earnings to rise.
Revenue is forecast to slide by around 5% to £6,758m from £7,104m the year before, but operating profit is seen climbing to £2,257m from £2,179m.
Earnings per share are tipped to improve to 28.7p from 28.2p in the third quarter of last year, paving the way for a penny-ha'penny increase in the quarterly dividend to 18.5p.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
"As with other pharma companies Glaxo is facing a challenging macro environment and increasing generic competition. This, combined with the discontinuation of
certain older products, is driving the declining revenue," notes Rae Ellingham at broker Charles Stanley.
Fashion chain Next should have seen third quarter trading and margins boosted by the colder autumnal weather, Peel Hunt reckons.
"We expect third quarter sales to have recovered well over the past seven weeks and expect to see year-to-date Brand sales back at the top end of guidance, up more than 4%, implying third quarter sales growth of 3.8%. We expect management to endorse current guidance and market expectations, although consensus is likely to drift upwards," the broker said.
INTERIM DIVIDEND PAYMENT DATE
Amiad Water Systems Ltd, Foresight Solar VCT, Wynnstay Group
INTERIM EX-DIVIDEND DATE
APR Energy, Bloomsbury Publishing, Booker Group, C&C Group, Development Securities, Downing Planned Exit VCT 2 'C' Shares, Downing Planned Exit VCT 2 'D' Shares , Downing Planned Exit VCT 2 'F' Shares, Downing Planned Exit VCT 2011 (General Shares), Downing Planned Exit VCT 2011 (Low Carbon Shares), Downing Planned Exit VCT 2011 (Structured Shares), Downing Planned Exit VCT 3 'C' Shares, Downing Planned Exit VCT 3 'D' Shares , Downing Planned Exit VCT 3 F Shares, Hargreave Hale AIM VCT 2, Hilton Food Group, Howden Joinery Group, Intertek Group, ITV, Laird, Lombard Risk Management, Lookers, M&C Saatchi, Moss Bros Group, Provident Financial, Restore
QUARTERLY PAYMENT DATE
F&C Commercial Property Trust Ltd., JP Morgan Chase & Co, Middlefield Canadian Income PCC, Schroder Income Growth Fund
QUARTERLY EX-DIVIDEND DATE
JPMorgan Claverhouse Inv Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Chicago PMI (US) (13:45)
Crude Oil Inventories (US) (15:30)
GFK Consumer Confidence (GER) (07:00)
International Reserves (EU) (11:00)
MBA Mortgage Applications (US) (12:00)
Retail Sales (GER) (07:00)
First Quantum Minerals Ltd., GlaxoSmithKline
Neos Resources, Tracsis
Aquarius Platinum Ltd.
Aegis Group, Barclays, Logica, Mondi, Next, Phoenix Group Holdings (DI), St James's Place, Standard Life
SPECIAL EX-DIVIDEND PAYMENT DATE
OSJC Center for Cargo Container Traffic Transcontainer GDR (Reg S)
Ashmore Group, Carpathian, Coburg Group, Greenko Group, Ideagen, Pacific Horizon Inv Trust, Tricor
FINAL DIVIDEND PAYMENT DATE
Abbey, Alumasc Group, Haynes Publishing Group, Rank Group
FINAL EX-DIVIDEND DATE
Abcam, AIREA, Allocate Software, El Oro Ltd, Go-Ahead Group, IndigoVision Group, JPMorgan Global Markets Emerging Income Trust
SIPP holders to get cash warnings and be offered default funds
News Providers will be required to offer investors a default fund and must warn customers of the inflationary risk of cash savings the regulator has said. What the new rules mean for your retirement pot?
By Marc Shoffman Published
Zoopla: Asking price discounts hit a five-year high – is now the time to buy a property?
News Zoopla’s October House Price Index shows sellers are accepting discounts of 5.5% on average to secure a sale – we reveal where homeowners are taking the biggest asking price cuts
By Marc Shoffman Published