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Tuesday preview: Traders watching St.James Place, BP and French vote

Mon, 28th Apr 2014 17:12

The Tuesday session will see a raft of corporate results hit the tape in London, including finals from the likes of Petropavlovsk and Whitbread, alongside interim management statements from Jardine Lloyd Thompson Group, National Express Group, Redrow and SEGRO. For its part, St.James's Place will update investors on its first quarter results, as will BP and Santander. Analysts at Numis believe that St. James's Place will report APE sales (under the historical reporting format) of £222.5m with funds under management (FuM) printing at £45.4bn (with net flows £1.0bn and performance £0.1bn) and EEV/share between 572p-596p. "We think the share price fairly reflects the growth and risk prospects. We would therefore suggest that long -term investors continue to hold the shares for the fundamentals driven growth still expected to come through, but would not strongly advocate allocating fresh capital given the current valuation," the broker told clients in a report. In the case of BP investors will be watching for information regarding the impact which rising gas prices have had on the firm, as well on the impact which the recent crisis may be having on Rosneft - via the weakening rouble.On the macroeconomic front the most pertinent bit of information may be the result of a confidence vote on the recently proposed economic reform measures in France.Economists will also be watching the latest harmonised German consumer price data for the month of April. That will come in the run-up to Wednesday's 'flash' estimate of the Eurozone-wide CPI. The European Union's statistical office, Eurostat, is expected reveal that CPI rose by between 0.8% and 0.9% year-on-year in the euro area, after inflation slowed to a 0.5% pace in March. The CPI report is expected to reflect higher prices for services, especially travel-related, around the Easter holidays (which were in March last year), Barclays Research explained. In the UK ONS will release its first estimate of first quarter gross domestic product (GDP). Some economists believe the UK's economy grew at no less than a 0.9% per cent clip quarter-on-quarter, which might make for a slightly positive read at the Bank of England, given the current focus on the still depressed levels of labour productivity. Stateside, Standard&Poor's will release its Case Shiller index for house prices and the Conference Board the results of its latest consumer confidence survey. Tuesday will also see the start of a two day policy meeting of the US Federal Reserve. Lastly, as always, traders will keep one eye trained on all things Ukraine (Russia). Somewhat ironically, over the weekend Erik F.Nielsen, Unicredit Research's Global Chief Economist, highlighted how the current crisis in Russia will push the EU towards further integration and away from the Russian Federation in terms of its energy needs, exactly the opposite of what Moscow would like in the long-term. Tuesday, April 29thINTERIMSInfrastrata, UtilitywiseINTERNATIONAL ECONOMIC ANNOUNCEMENTSBalance of Payments (GER) (07:00)Business Climate Indicator (EU) (10:00)Consumer Confidence (US) (15:00)Economic Sentiment Indicator (EU) (10:00)M3 Money Supply (EU) (09:00)FINALSEspirito Santo Financial Group SA, Huntsworth, Incadea, JQW, LiDCO Group, Lifeline Scientific Inc. (Reg S), Petropavlovsk, TLA Worldwide , Walker Greenbank, WhitbreadANNUAL REPORTAfren, Societatea Nationala De Gaze Naturale Romgaz S.A. GDR (Reg S)IMSSFBD Holdings, Jardine Lloyd Thompson Group, National Express Group, Redrow, SEGROAGMSBodycote, Capital Drilling Ltd. (DI), Essentra, FBD Holdings, Global Ports Investments GDR (REG S), Henderson Opportunities Trust, IBM Corp., Jardine Lloyd Thompson Group, JPMorgan US Smaller Co. Inv Tst, Murray International Trust, Murray International Trust 'B' Shares, Powerflute Oyj (DI), Servelec Group , Shire Plc, Thalassa Holdings Ltd. (DI), The Renewables Infrastructure Group Limited, Wolfson MicroelectronicsTRADING ANNOUNCEMENTSCarphone Warehouse Group, Stagecoach GroupUK ECONOMIC ANNOUNCEMENTSGDP (Preliminary) (09:30)Index of Services (09:30)FINAL DIVIDEND PAYMENT DATEAnglo American, LSL Property ServicesQ1Banco Santander S.A. (CDI), BP, St James's PlaceAB

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