A TREASURY White Paper on key reforms to financial regulation will be the highlight of this week, while a host of housebuilders will give their latest snapshot of the market.
More clues on the health of the UK property market will be offered when Persimmon, Barratt Developments and Bovis Homes give updates from the sector.
Aside from comments on the market in general, Persimmon’s debts will also come under the spotlight when it gives its update tomorrow. Analysts will be looking for further reductions from the £905m seen last June.
Barratt follows on Thursday, with Bovis on Friday.
Retailer Marks & Spencer will face shareholders at its annual meeting on Wednesday as it battles against increasing anger over corporate governance issues and Sir Stuart Rose’s dual role at the helm.
Chancellor Alistair Darling is due to lay out his plans for the future of banking regulation during the week. The Bank of England, Treasury and Financial Services Authority have reportedly been at loggerheads as regulators vie for a meatier role – although all three have played down rumours of a spat.
City Minister Paul Myners has said the tripartite system would remain key, with “macro-prudential regulation” a joint effort.
Recruitment firms Michael Page and Hays will offer an insight into the recession-hit jobs market when they give updates tomorrow and on Thursday respectively.
The fine weather of recent months has boosted clothing retailers and Primark should be no exception when owner Associated British Foods updates on Friday.
The discount fashion chain put in a “first class performance”
in the six months to February 28, lifting operating profits by ten per cent to £122m, increasing selling space and growing like-forlike sales by five per cent.
Analysts are hopeful for more positive news from AB Foods on Primark this week.
Elsewhere across the business, trading is likely to be more mixed for the Ryvita and Kingsmill bread owner.
The company’s grocery arm saw operating profits fall 29 per cent to £62m over the half year.
But Kingsmill maintained its trading improvement on the back of a sustained marketing campaign and the relaunch of its Kingsmill Gold range.
And with home baking becoming more popular in the economic downturn, AB Foods said the retail markets for flour and sugar enjoyed strong growth after several years of declining volumes.
Silver Spoon also maintained its leading market position at the expense of lower margins in a competitive market.
■ Companies reporting results this week include: Today, interims – St Modwen Properties; Tomorrow, trading updates – Michael Page International, Persimmon; Thursday, trading updates Associated British Foods, Barratt Developments; Friday, trading update – Bovis Homes.
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