WEDNESDAY will see Sports Direct kick-off its figures with a trading statement, and it seems that expectations are good. Despite the retail slump, its projected earnings growth is 20 per cent a year for the next two years. Broker Panmure Gordon recently put a 300p price target on it. Capital Spreads quotes 230.6p-232.8p.
Xstrata gives a trading update on Tuesday and investors will be hoping to hear that the mining giant is continuing to see good earnings momentum, despite the dodgy looking picture for global growth. Many investors believe miners are heavily oversold, so there could be further upside. Capital Spreads quotes 976.9p-978.8p.
The upward trend that’s been supporting Bellway’s share price should hopefully continue after its earnings release tomorrow.
With 9 per cent more new homes being registered in the first half and a reported optimistic interest from the National House Building Council for the second half, shareholders will be hoping that this update is going to blow the roof off the share price. Capital Spreads quotes a price of 678.6p-681.9p.
The market seems to be echoing Richard Glynn’s view on Ladbrokes pulling out of the Sporting Bet talks that “sometimes the best deals you do are the ones you don’t” as its share price has climbed some 12 per cent since the announcement. Its shares tend to put the blinkers on sometimes and trade in a range, and now they are over the 150 day exponential moving average (EMA) it could run in a new range between 130p-140p for a while. Look to play the edges of this range. Spread Co offers 133.58p-134.18p on Ladbrokes.