Week ahead: Eyes on Barclays during frantic week

An extremely busy week lies ahead, with a tumult of the largest companies on the London stock market announcing second-quarter and half-year results.The week begins quietly enough on Monday and Tuesday, with a Reckitt Benckiser expected to post lower profits on Monday due to forex movements, an interesting update expected from Trinity Mirror and good start expected from FTSE 250 insurer Hiscox.A rash of resources reports in the coming week begins with BP's second quarter results Tuesday followed on Wednesday with Drax and Tullow Oil, before Thursday sees BG Group, Centrica and Shell.Financial sectors see updates from Lloyds Banking, Man Group, Moneysupermarket.com and Schroders.There will be particular interest in Barclays, with these being the first results after the May strategy update and recent allegations regarding High frequency Trading activity in Barclays's dark pools.Analysts at Numis forecast first-half statutory profit before tax of £2,859m, which assumes a further £500m of PPI provisions. Adjusted PBT is forecast at £3,359m. Focus will be on three things in particular: investment banking revenues where an 8% decline is forecast in the second quarter; cost management, where 2014 guidance is for around £17bn operating costs; and thirdly Barclays non-core deleveraging, where the broker forecasts non-core losses of £476m for the period.Other results during the week worth watching out for are from AstraZeneca, BAE Systems, BT Group, British American Tobacco, Compass, Direct Line, ITV, Foxtons, PZ Cussons, Pace, Rentokil, Rolls-Royce, along with Taylor Wimpey, Travis Perkins and William Hill.Macro factorsIn the UK, analysts at Investec say they expect official Bank of England data to show the first increase in mortgage approvals for five months, following a steer from British Bankers' Association figures. "We also tend to the view that Friday's manufacturing PMI survey will remain in buoyant territory, helping to dispel fears that sterling's strength is clobbering the factory sector. Note too that Deputy BoE Governor Ben Broadbent speaks on Tuesday."Stateside there's plenty of macro data in the week as well as 142 S&P 500 companies due to report earnings as the season gets into full season.Wednesday will see the US Federal Reserve's FOMC make a short announcement about a further $10bn round of tapering to the level of monthly asset purchases will fall back to $25bn, with a short statement to accompany it.On Friday July's US jobs numbers are reported, with unemployment having fallen by almost 1.5 percentage points to 6.1% over the past year and short-term joblessness at its lowest level since early 2008. Fed Chair Janet Yellen recently warned that a relatively fast fall in unemployment would bring forward a hike in interest rates.A first estimates of second quarter GDP is also due, with the first quarter's 2.9% annualised drop expected to more than than reverse. Further data prints include the latest ADP employment survey and July's Institute for Supply Management index. Friday also sees official Chinese PMI figures.Monday July 28INTERIMSForbidden Technologies, Hiscox Ltd (CDI), Reckitt Benckiser Group, Trinity Mirrow, XP Power Ltd. (DI)INTERIM DIVIDEND PAYMENT DATEAukett Swanke Group INTERNATIONAL ECONOMIC ANNOUNCEMENTSPending Homes Sales (US) (15:00)FINALSFiltronic, Goodwin Plc, Great Eastern Energy Corp Ltd. GDR, ITM PowerANNUAL REPORTPark GroupIMSSGreat Portland Estates, National GridAGMSNational Grid, Peer TV, Polar Capital Holdings, Rame Energy , Weiss Korea Opportunity Fund LtdTRADING ANNOUNCEMENTSPetra Diamonds Ltd.(DI)FINAL DIVIDEND PAYMENT DATEFuller Smith & Turner, Hogg Robinson Group, Intermediate Capital GroupTuesday July 29INTERIMSBP, Brammer, Circassia Pharmaceuticals, Domino's Pizza Group, Drax Group, GKN, Hutchison China Meditech Ltd, Informa, Jardine Lloyd Thompson Group, Marsh & Mclennan Cos Inc., Pace, St James's Place, Synectics, Tullett Prebon, TymanINTERNATIONAL ECONOMIC ANNOUNCEMENTSBalance of Payments (GER) (07:00)Consumer Confidence (US) (15:00)Q2BP, Marsh & Mclennan Cos Inc.FINALSPZ CussonsIMSSGreencore GroupAGMSAcal, Byotrol, Halfords Group, Plastics Capital, Ventus 2 VCT, Ventus 2 VCT 'C' Shares, Ventus VCT, Vodafone GroupTRADING ANNOUNCEMENTSGem Diamonds Ltd. (DI), NextUK ECONOMIC ANNOUNCEMENTSConsumer Credit (09:30)M4 Money Supply (09:30)M4 Sterling Lending (09:30)Mortgage Approvals (09:30)FINAL DIVIDEND PAYMENT DATEAurora Investment Trust, Coca-Cola HBC AG (CDI), Electrocomponents, Vertu MotorsWednesday July 30INTERIMS4Imprint Group, Aer Lingus Group, British American Tobacco, Dignity, First Quantum Minerals Ltd., Greggs, Foxtons, Hrvatske Telekom D.D GDR (Reg S), International Personal Finance, ITV, Jupiter Fund Management , Moneysupermarket.com Group, New Europe Property Investments, Rightmove, Riverstone Energy Limited , SEGRO, Smurfit Kappa Group, Tarsus Group, Taylor Wimpey, Travis Perkins, Tullow OilINTERIM DIVIDEND PAYMENT DATECQS Diversified Fund Ltd Ord NPV £INTERIM EX-DIVIDEND DATEBlackrock Throgmorton Trust, Fenner, Frenkel Topping Group, Jiasen International Holdings Ltd, McColl's Retail Group , Microgen, Nichols, PorvairQUARTERLY EX-DIVIDEND DATECity of London Inv TrustINTERNATIONAL ECONOMIC ANNOUNCEMENTSBusiness Climate Indicator (EU) (10:00)Crude Oil Inventories (US) (15:30)Economic Sentiment Indicator (EU) (10:00)FOMC Interest Rate (US) (19:00)GDP (Advance) (US) (13:30)MBA Mortgage Applications (US) (12:00)Q2First Quantum Minerals Ltd.GMSMirada, Scotgold Resources (DI), Societatea Nationala De Gaze Naturale Romgaz S.A. GDR (Reg S)FINALSBetter Capital Pcc Ltd (2009)IMSS3i Group, Atkins (WS), Compass Group, DiplomaDRILLING REPORTAntofagasta, Polymetal International, Vedanta ResourcesEGMSForte Energy NL, Global Ports Investments GDR (REG S), Societatea Nationala De Gaze Naturale Romgaz S.A. GDR (Reg S)AGMSAtkins (WS), Aurasian Minerals , CML Microsystems, Cropper (James), Fastjet, Kibo Mining, Montanaro UK Smaller Companies Inv Trust, Northern 2 VCT, RENN Universal Growth Investment Trust, Sepura, Sepura, SerVision, Stallion Resources , Westside InvestmentsFINAL DIVIDEND PAYMENT DATEHelical Bar, Norcros, Record, Rensburg AIM VCTFINAL EX-DIVIDEND DATEInfinis Energy, Investec, Latham (James), RedcentricThursday July 31INTERIMSAstraZeneca, BAE Systems, BG Group, Bodycote, Centaur Media, Centrica, COLT Group SA, Countrywide, Dairy Farm International Holdings Ltd. (Singapore), Essentra, F&C Asset Management, Greencoat UK Wind, Hongkong Land Holding Ltd. (Sing.Reg), HydroDec Group, Inchcape, Intu Properties, Laird, Lloyds Banking Group, Management Consulting Group, Mandarin Oriental International (Singapore), Merlin Entertainments , Millennium & Copthorne Hotels, National Express Group, Promethean World, Rolls-Royce Holdings, Royal Dutch Shell 'A', Royal Dutch Shell 'B', RPS Group, Schroders, Schroders (Non-Voting), Spirent Communications, Telefonica SA, Volkswagen AG, Weir GroupINTERIM DIVIDEND PAYMENT DATEChrysalis VCT, Schroder UK Mid Cap FundQUARTERLY PAYMENT DATEJP Morgan Chase & Co, Middlefield Canadian Income PCC, Schroder Income Growth Fund, TwentyFour Select Monthly Income Fund Limited INTERNATIONAL ECONOMIC ANNOUNCEMENTSChicago PMI (US) (14:45)Continuing Claims (US) (13:30)Initial Jobless Claims (US) (13:30)International Reserves (EU) (11:00)Retail Sales (GER) (07:00)Unemployment Rate (EU) (10:00)Unemployment Rate (GER) (08:55)Q2AstraZeneca, BG Group, Millennium & Copthorne Hotels, Royal Dutch Shell 'A', Royal Dutch Shell 'B', Samsung Electronics Co Ltd (ATT) GDR (Reg S), Telefonica SAGMSBraime (T.F.& J.H.) Holdings, Thor MiningFINALSDiageoANNUAL REPORTOxford InstrumentsIMSSInvestec, Thomas Cook GroupDRILLING REPORTKazakhmysSPECIAL DIVIDEND PAYMENT DATESchroder UK Growth FundAGMSBonmarche Holdings, Elektron Technology, Hotel Corporation (The), Jupiter Green Inv Trust, Messaging International, Octopus VCT , Pennon Group, Petrel Resources, Torotrak, Vitesse MediaUK ECONOMIC ANNOUNCEMENTSConsumer Confidence (09:30)GFK Consumer Confidence (00:05)FINAL DIVIDEND PAYMENT DATEAcal, Burberry Group, Caffyns, Crawshaw Group, Edinburgh Inv Trust, Mckay Securities, Panther Securities, Royal MailQ1BT GroupFriday August 01INTERIMSCapital & Counties Properties , Direct Line Insurance Group, IMI, Jardine Matheson Holdings Ltd (Singapore Reg), Jardine Strategic Holdingd Ltd. (Singapore), Man Group, Rentokil Initial, Rexam, Robert Walters, Royal Bank of Scotland Group, Smith & Nephew, UBM, Vesuvius, William HillINTERIM DIVIDEND PAYMENT DATEDriver Group, Heavitree Brewery, Heavitree Brewery 'A' Shares, TP5 VCT 'B' SharesQUARTERLY PAYMENT DATEMercantile Investment Trust (The), Torchmark Corp., Verizon CommunicationsINTERNATIONAL ECONOMIC ANNOUNCEMENTSAuto Sales (US) (15:00)Construction Spending (US) (15:00)ISM Manufacturing (US) (15:00)ISM Prices Paid (US) (15:00)Non-Farm Payrolls (US) (13:30)Personal Consumption Expenditures (US) (13:30)Personal Income (US) (13:30)Personal Spending (US) (13:30)PMI Manufacturing (EU) (09:00)PMI Manufacturing (GER) (08:55)U. of Michigan Confidence (Final) (US) (14:55)Unemployment Rate (US) (13:30)Q2Smith & NephewANNUAL REPORTM&G High Income Inv Trust Income & Growth UnitsSPECIAL DIVIDEND PAYMENT DATEElectronic Data ProcessingAGMSHyder Consulting, Vedanta ResourcesUK ECONOMIC ANNOUNCEMENTSPMI Manufacturing (09:30)FINAL DIVIDEND PAYMENT DATEAlpha Real Trust Ltd., API Group, Bisichi Mining, British Smaller Companies VCT, Brown (N.) Group, Carphone Warehouse Group, CML Microsystems, De La Rue, Dee Valley Group, Dee Valley Group (Non-Voting), Grafenia , Halfords Group, Homeserve, KCOM Group, Next, Shanks Group, TalkTalk Telecom Group , Tate & Lyle, Telecom Plus, United Utilities Group, Vianet Group, Workspace GroupOH