CONCRETE returns are expected from Travis Perkins when it updates shareholders tomorrow. The builders merchant recently joined forces with Cartrefi Cymunedol Gwynedd to supply materials for 6,300 new homes. Shares are just off their five-year highs, and a positive update may encourage traders to dig in and lift prices to a level not seen since 2007. Spread Co quotes a price of 1,099.15p-1,100.15p for Travis Perkins.
Betfair Group looks to be odds-on to report a fall in profits on Thursday. The online exchange has not proved to be a good punt for traders, and its shares are languishing around 750p – far from highs near 1,600p at the end of 2010. New chief executive Breon Corcoran will unveil a plan to cut costs, which will see Betfair pull out of some parts of Europe. However, traders still don’t think they are on to a winner. Spreadex quotes a price of 747.6p-753.9p for Betfair Group.
John Wood Group has struggled since its former chairman sold a chunk of shares in November. Shares have fallen 6 per cent since then. However, they are still up by nearly 20 per cent over the last year, currently sitting in the middle of its 52-week range. A strong trading statement on Thursday may restore confidence as industry spending increases, providing new opportunities for the energy company. IG quotes a price of 765p-767p for John Wood Group.
Traders expect that Sports Direct International will show an impressive set of numbers when it reports on Thursday. Sales volumes will have been boosted by the Olympics and the demise of its rival JJB Sports. Shares are up by over 80 per cent over the last 12 months, and traders are confident ahead of the Christmas sales period. ETX Capital quotes a price of 389.41p-391.09p for Sports Direct International.