HOTEL and restaurant operator Whitbread has been on the up since last week with high expectations for their annual figures to March. Annual profits are suggested to come in at £279m, which is up from £208m last year. With the dividend expected to be increased to 42p, the company appears to be moving in a good direction. The group has just signed a six year contract with Tradeteam for drink supply chain services and with these factors in mind, Capital Spreads quotes Whitbread stock at 1,696.1p-1,699.9p.
After a poor start to the week, mining firm Kazakhmys will be looking to bounce back today as it releases its final results this morning. The Kazakhstan based miner had a fall early on Monday, so the market will be looking for strong numbers, despite fears over rising costs and falling copper prices continuing to dominate. Yesterday’s share price fall saw a break of the downside trend line support, which had been in place for a couple of weeks. Traders will want to see good numbers help the price back above the 1,425 level and alleviate the fears. Alpari UK is quoting Kazakhmys at 1,410p-1,412p
House builder Bellway reports half year earnings tomorrow with the City expecting a twenty percent increase in pre-tax profits to £22.8m. Bellway recently said buyer confidence had returned to the market and sales and average selling prices had increased. The shares took a run at breaking through resistance at 720p last week, and look for dips this week to around 660-680p to buy for another run at breaking higher. Spread Co offer a spread on Bellway Homes of 693.9p-696p
Luxury goods manufacturer LVMH holds its shareholder meeting on Thursday and, although soaring demand from new money coming out of the Brics is doubtless helping demand, questions will no doubt be asked as to the implications of a lacklustre economic recovery in the US and the implications of the earthquake and its aftermath for the Japanese market. Shares have recovered from the lows mid-month but it may take some careful reassurance from the board if a sustainable move higher is to be seen. The Current IG Markets price is €110.35-€110.40