London Report: New borrowing figures likely a boost for Britain

CHANCELLOR George Osborne is likely to get a boost this week with October public borrowing figures predicted to show the economic recovery gaining strength.

Corporation payments and profits from the Royal Mail share sale have helped boost the government coffers and the final set of figures before Osborne’s Autumn Statement are expected to be strong.

“We forecast October public sector borrowing to come in slightly lower at £6.4bn, in line with the seasonal trend seen in the past few years,” said Barclay’s Blerina Uruci.

“Halfway through the fiscal year (2013-14), fiscal consolidation seems to be on track with borrowing likely to meet the Office for Budget Responsibility’s target of £80.6bn. We expect Public Sector Net Cash Requirement to post a surplus of £11.5bn in the month.”

CBI industrial trends will also be announced on Thursday and are also expected to show the manufacturing sector is still performing well.

The corporate calendar today includes reports from Diploma, Zambeef Products, Aveva Group, Majestic Wine, Latchways, Mitie Group, City of London Group,Cranswick, GB Group, Quintain Estates & Development, UBC Media Group, Unite Group and Capita.

Tomorrow Superglass Holdings, Britvic, Cambria Automobiles, Mitchells & Butlers, Sanderson Group, Topps Tiles, Eckoh, Big Yellow Group, McKay Securities, Signet Jewelers, ACM Shipping Group, Caledonia Investments, Chamberlin, KCOM Group, Scapa Group, Severn Trent, Telecom Plus, VP, Real Estate Credit Investments PCC, Keller Group, Melrose Industries and Punch Taverns will all update the market.

On Wednesday Shaftesbury, Hyder Consulting, UK Mail, Findel, First Property Group, Hogg Robinson Group, Immunodiagnostic Systems Holdings, Omega Diagnostics, Real Estate Credit Investments, Royal Mail, Telford Homes and United Utilities give figures.

Thursday’s reports include Optos, Impax Asset Management Group, Marston’s, PayPoint, Investec, Johnson Matthey, Enteq Upstream, Alpha Bank GDRs, Creston, Helical Bar, Latham (James), LondonMetric Property, Mountview Estate, Pennon Group, Close Brothers and Kingfisher.

Frontline, Max Property and RPC report on Friday.