SABMiller will serve up its trading announcement later this week. Investors will be hoping that news from the brewing giant will brim with plenty of fizz if its share price is to hold on to an 18 per cent gain for the year so far. The company’s increasing shift into emerging markets has helped it insulate itself from the problems of the developed world, while its recent purchase of Foster’s looks likely to boost the company’s already-impressive cash generation. IG Index quotes a price of 2,678-2,685p for SABMiller.
Insurance group Royal & Sun Alliance has failed to impress of late, trailing the FTSE 100 index. Recent flooding in the UK has proven just the latest salvo to hit the company and, although the sun is now shining, forecasts of more wet weather could give very little reason for a positive outlook. GFT Markets quotes a price of 108.8-109.2p for Royal & Sun Alliance.
The FTSE itself will be in focus this week, with Wednesday bringing the latest UK GDP figures. A triple-dip recession is predicted, but it’s uncertain whether this will cause the market to tumble even further – especially following a terrible start to the week. Traders have been buying into the recent weakness, hoping for better news round the corner. Capital Spreads quotes 5,560-5,561 for the FTSE 100 index.
Finally, after all the recent controversy surrounding banks and Libor manipulation, Barclays itself will be posting its latest trading update later this week. Expectations are for a fairly positive quarter. CMC Markets quotes a price of 153.86-153.97p for Barclays Bank.