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Thursday preview: BoE rate decision, Rank, Carphone Warehouse

Wed, 07th Oct 2009 17:39

On Thursday the Bank of England's Monetary Policy Committee (MPC) will announce its interest rate decision and, as has been the case for several months, it would be a major surprise if the MPC were to make any decision other than no change.Similarly, the size of the £175bn quantitative easing (QE) programme is expected to remain the same, but there may be a change to the interest rate the Bank of England pays on commercial banks' reserves; Bank of England governor Mervyn King has publicly contemplated cutting the deposit rate as a means of discouraging banks from hoarding cash that he'd rather see pumping around the UK economy. Casinos and bingo outfit Rank makes an interim management statement on Thursday and will be seeking to make it two upbeat trading statements in a row, which would make for a relatively rare pleasurable experience for long suffering shareholders who have seen the shares lose two thirds of their value over the last five years.At the half-year stage the company said underlying pre-tax profits rose to £24.7m in the six months ended 30 June compared with £17.6m a year earlier. Analysts expected a profit of around £20m. Investors will be looking for an update on the company's debt burden. At the end of June it stood at £208.1m, down from £226.5m at the end of 2008.A decline in takings on the wholesale side of the business is expected to hit the interim profits of fashion outfit Ted Baker. Numis Securities is forecasting half-year profits before tax of about £5m, down by around a third from 2008.Mobile phone seller and broadband provider Carphone Warehouse is scheduled to announce key performance indicators for its second quarter. Nomura Securities is expecting the Talk Talk network to have added a net 42,000 users in the second quarter, down from 47,000 in the first quarter.The situation is not so bright at Tiscali, the Internet Service Provider (ISP) the company recently acquired, where Nomura predicts a net 200,000 users abandoned the ISP in the second quarter.INTERIMSC&C Group, Ted BakerINTERIM DIVIDEND PAYMENT DATE888 Holdings, Amlin, Antofagasta, Croda International, Eurasian Natural Resources, GlobeOp Financial Services, Molins, Shire Plc, Standard CharteredTRADING STATEMENTSHunting, Rank, Carphone WarehouseQUARTERLY PAYMENT DATEGlaxoSmithKlineINTERNATIONAL ECONOMIC ANNOUNCEMENTSECB Interest Rate (EU) (12:45)Industrial Production (GER) (12:45)Initial Jobless Claims (US) (13:30)Wholesale Inventories (US) (15:00)Current Accounts Total (JPN)Bankruptcies (JPN)FINALSSandvine CorporationEGMSSouth African Property OpportunitiesAGMSElectric & General Inv TrustUK ECONOMIC ANNOUNCEMENTSBoE Interest Rate Decision (12:00)FINAL DIVIDEND PAYMENT DATE888 Holdings, Brambles Ld, Mid Wynd International Inv Trust
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