Wednesday preview: Marks & Spencer, Robert Walters

Retail giant Marks & Spencer brings out a fourth quarter trading update on Wednesday and broker Matrix Group is expecting like for like (LFL) sales of general merchandise (GM) to "fall out of bed" as the comparative figures are "ultra tough". Unlike last year, "this quarter's figures will not be boosted ... by the launch of the post-Christmas sale or by Easter. The figures may look grisly (we forecast -5.0% GM LFL, consensus is -6.2%), but the long-term story is healthier," Matrix analyst Tom Gadsby says. "Food sales should have held up. We forecast +1.5% LFL vs consensus of 1.2%. Kantar food retail market share data suggest a fall off in the past few weeks. The timing of Easter is material in this fall, so the food-sales figures should rebound in Q1 2011/12, we believe," Gadsby added.Recruitment firm Robert Walters updates the market a day ahead of sector peer Hays and, in the opinion of David O'Bren at Shore Capital, both are likely to comment on the effect on business that the earthquake in Japan has had.O'Brien thinks the tragedy could put a £1m dent n Robert Walters's profits.INTERIM DIVIDEND PAYMENT DATE Carclo, Diageo, Hargreaves Lansdown, Park Group, Ricardo INTERIM EX-DIVIDEND DATE Begbies Traynor Group, Haynes Publishing Group, Manchester & London Inv Trust, Maxima Holdings, St Ives, Wolseley QUARTERLY EX-DIVIDEND DATE Investors Capital Trust 'A' Shares, Marsh & Mclennan Cos Inc., Verizon Communications INTERNATIONAL ECONOMIC ANNOUNCEMENTS Crude Oil Inventories (US) (15:30) Factory Orders (GER) (11:00) GDP (2nd release) (EU) (10:00) MBA Mortgage Applications (US) (12:00) PMI Construction (GER) (08:55) Q4 Marks & Spencer Group GMS Ascent Resources, Sandvine Corp., St Ives FINALS Prezzo IMSS Misys, Robert Walters, XP Power Ltd. (DI) SPECIAL EX-DIVIDEND PAYMENT DATE Murray International Trust, Savills AGMS Baronsmead VCT 3, Octopus Titan VCT 4, RCM Technology Trust, Sandvine Corp. UK ECONOMIC ANNOUNCEMENTS BRC Shop Price Index (00:01) Industrial Production (09:30) Manufacturing Production (09:30) FINAL DIVIDEND PAYMENT DATE Avesco Group, Electronic Data Processing, Independent Inv Trust FINAL EX-DIVIDEND DATE 32Red, Acencia Debt Strategies Ltd., Arena Leisure, Athelney Trust, Bluehone AIM VCT 2, Bodycote, Chesnara, China Shoto, Dialight, Flying Brands Ltd. Units, Glanbia, HGCapital Trust, Holidaybreak, IDOX, Jardine Lloyd Thompson Group, JPMorgan American Inv Trust, Logica, Moneysupermarket.com Group, Nichols, Novae Group, Pearson, Phoenix Group Holdings (DI), RAB Capital, Rotork, Savills, Stanley Gibbons Group, Tikit Group, Ultra Electronics Holdings, WSP Group Q1 Sandvine Corp.---jh