Housing related stocks took a bashing last week after the Chancellor of the Exchequer threatened moves to pop the housing bubble.
That sent shares in tool-hire and equipment rental firm Ashtead tumbling, so Tuesday’s finals represent a chance to regain some lost ground.
Peel Hunt reckons trading in the fourth quarter of the financial year should have seen a broad continuation of the positive volume and pricing trends seen in previous quarters.
“Investor focus will be firmly on guidance. Our 2015 estimates look for 16% Sunbelt revenue growth (12% volume and 4% yield) with a modest rise in EBITDA margins to 45.9%. Therefore, recent peer comments (United Rentals) suggest scope for further EPS momentum,” the broker reckons.
The market is expecting pre-tax profit of £365mln on revenue of £1.6bn.
Later in the week London and south-east focused house builder Berkeley Group is expected to announce full-year pre-tax profits of £365mln on turnover of £1.67bn.
Significant announcements expected
Monday
Companies: Finals: Majestic Wine (LON:MJW), Picton Property Income (LON:PCTN), Sirius Real Estate (LON:SRE).
Economic: UK: BOE Quarterly Bulletin, Rightmove HPI. EU: CPI, Core CPI, German Buba Monthly Report. US: Empire State Manufacturing Index, TIC Long-Term Purchases, Capacity Utilization Rate, Industrial Production, NAHB Housing Market Index.
Tuesday
Companies: Finals: Ashtead Group (LON:AHT). Consort Medical (LON:CSRT), Daisy Group (LON:DAY), Software Radio Technology (LON:SRT), Trifast (LON:TRI). Interims: Crest Nicholson Holdings (LON:CRST). Trading Statement: JD Sports Fashion (LON:JD.), Whitbread (LON:WTB).
Economic: UK: PPI Input, CPI, RPI, Core CPI, HPI, PPI Output. EU: Italian Trade Balance, German ZEW Economic Sentiment, ZEW Economic Sentiment. US: Building Permits, Core CPI, CPI, Housing Starts.
Wednesday
Companies: Finals: Berkeley Group Holdings (The) (LON:BKG), ReNeuron Group (LON:RENE). Trading Statement: Brown (N) Group (LON:BWNG). Interims: LXB Retail Properties (LON:LXB).
The following widely-held stocks are trading ex-dividend on Wednesday: United Utilities, Severn Trent, Land Securities, 3i Group
Economic: UK: MPC Asset Purchase Facility Votes, MPC Official Bank Rate Votes. EU: Italian Retail Sales. US: Current Account, FOMC Economic Projections, FOMC Statement, Federal Funds Rate, FOMC Press Conference.
Thursday
Companies: Finals: Darty (LON:DRTY), Infinis (LON:INFI), Micro Focus International (LON:MCRO), Norcros (LON:NXR). Trading Statement: Go-Ahead Group (The) (LON:GOG).
Economic: UK: Retail Sales, CBI Industrial Order Expectations. US: Unemployment Claims, Philly Fed Manufacturing Index, CB Leading Index.
Friday
Companies: Finals: Polar Capital Holdings (LON:POLR). Trading Statement: Debenhams (LON:DEB), St Ives (LON:SIV).
Economic: UK: Public Sector Net Borrowing. EU: German PPI, Current Account, Consumer Confidence.