Big names to report their results in UK
The UK Stock exchange will be kept busy next week, with a host of companies set to report results.
Internet bank Egg will kick off the week with full-year figures on Monday.
Halifax, GlaxoSmithKline, and Powergen will be among other companies reporting during the week.
Egg is expected to show a loss of around £134m, compared with £155m last time. Broker Gerrard says the market will be looking for any changes to the timescale of when Egg will make profits.
Halifax is expected to report profits of £1.82bn on Tuesday, up from £1.76bn the previous year. The market will be watching for any indications that the non-mortgage side of the group will be expanded during the coming year, as well as news of its internet bank IF.
Newly-merged GlaxoSmithKline is the world's biggest pharmaceutical company by sales, and these are expected to come in at £18.1bn when it reports on Wednesday. The City, which expects profits of £5.4 bn, compared withg £4.59bn last time, will be awaiting some news on the ongoing savings resulting from the union of the two companies.
PowerGen's full year figures, due on Wednesday, are likely to be overshadowed by questions about its future following January's revelation it was in early talks with Germany's E.ON. The figures themselves, are expected to come in at £505mn, against £512m.
On Wednesday, advertising firm WPP is expected to show that last year's figures benefited from good growth in revenues, boosted by dotcom companies at the start of the year and events such as the Sydney Olympics and the US elections.
WPP's merger with Young & Rubicam is also expected to have significantly increased group revenues. Profits are forecast to come in at £330m, against £255m last time.
Malibu-to-Smirnoff drinks giant Diageo's first-half figures will be unveiled on Thursday. The group had a busy year, selling its Pillsbury food business to General Mills, planning a flotation of Burger King and acquiring the Seagrams drinks business. Its profits are forecast to come in at £1.2bn, against £1.09bn last time.
