Wednesday preview: Hays, Wetherspoon, Burberry

Recent updates from sector peers Michael Page and Robert Walters have not given any reason for shareholders to be overly optimistic about recruiter Hays's trading update on Wednesday.

Michael Page said the first half of the year had been tough and it expected more of the same in the second half, while Robert Walters saw a slow-down in Asia Pacific put a dent in its net fee income.

On the bright side, as recently as April Hays raised operating profit guidance for the full year, driven by international growth, including 9% growth in Asia Pacific.

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Pubs group JD Wetherspoon's founder and Chairman Tim Martin gets another chance on Wednesday to rail against the UK's tax laws which, in his eyes, blatantly favour supermarkets over pubs.

Investment analysts will be more interested in how the business's margins are doing. In the 13 weeks to April 22nd - the group's fiscal third quarter - the operating margin (before exceptional items) had declined to 8.1% from 9.3% in the first half of the fiscal year, and Numis Securities thinks full year margins will come in at around 9.05%.

Fashion brand Burberry is expected to update the market, and the group does not often put a foot wrong, so expectations are that the firm is riding out the global economic slow-down well.

On the economic front, the minutes from the July meeting of the Federal Reserve's Federal Open Market Committee will be released in the evening, UK time.

INTERIM EX-DIVIDEND DATE

Aer Lingus Group, Chemring Group, CQS Rig Finance Fund Ltd., Dewhurst, Domino Printing Sciences, Dunedin Smaller Companies Inv Trust, Safestore Holdings, Sinclair (William) Holdings, Zytronic

QUARTERLY EX-DIVIDEND DATE

Merchants Trust, Middlefield Canadian Income PCC, Schroder Income Growth Fund

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Balance of Trade (US) (13:30)

Consumer Price Index(GER) (07:00)

Crude Oil Inventories (US) (15:30)

FOMC Interest Rate Minutes (US) (19:00)

MBA Mortgage Applications (US) (12:00)

Wholesales Inventories (US) (15:00)

GMS

Creon Resources

FINALS

Picton Property Income Ltd

IMSS

ICAP

AGMS

BT Group, ICAP, London & Stamford Property , Mitie Group, Ortus VCT, Rugby Estates, Sainsbury (J), UK Mail Group

TRADING ANNOUNCEMENTS

Burberry, Hays, Wetherspoon (J.D.)

FINAL DIVIDEND PAYMENT DATE

Ashley (Laura) Holding

FINAL EX-DIVIDEND DATE

British Smaller Companies VCT, Cropper (James), E2V Technologies, Establishment Inv Trust, FirstGroup, GB Group, Hyder Consulting, Lindsell Train Inv Trust, Monks Inv Trust, Moss Bros Group, NB Global Floating Rate Income Fund Ltd GBP, NB Global Floating Rate Income Fund Ltd USD, Octopus Apollo VCT 4 , Sepura, Ventus 2 VCT, Ventus 2 VCT 'C' Shares, Ventus VCT, Ventus VCT 'C' Shares, VP, Walker Greenbank, Workspace Group

JH