Interactive Investor

The week ahead: Tullow Oil, Stagecoach

24th June 2016 17:06

by Lee Wild from interactive investor

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Monday 27 June

Trading Statements

Porvair, One Media IP Group

AGMs/EGMs

Eland Oil & Gas, Velox3, Coms, Anglo-Eastern Plantations, Anglo Asian Mining, Ergomed

Tuesday 28 June

Trading Statements

Ocado Group, Blue Prism Group, ULS Technology, Secure Property Development & Investment, BCA Marketplace, Picton Property Income, Cohort

AGMs/EGMs

ServicePower Technologies, Xchanging, Old Mutual Group, JKX Oil & Gas, Eden Research, Nostrum Oil & Gas, Fastjet, Petropavlovsk, President Energy

Wednesday 29 June

Bus and train company Stagecoach has had a bad year. Loved in the City for its sector-leading bus margins, the Scots firm warned in April that its rail business had been hit by weak consumer confidence and terrorism concerns.

However, it said then that the company was still on track to achieve its expectation of overall adjusted earnings per share for year ending 30 April 2016. We'll find out on Wednesday.

Trading Statements

Harwood Wealth Management, Stagecoach Group, Dixons Carphone, International Greetings, Torotrak

AGMs/EGMs

Air Partner, Pacific Assets Trust, Rare Earth Minerals, Norcon, W Resources, Industrial Multi Property Trust, Cogenpower, Herencia Resources

Thursday 30 June

Investors piled into Tullow Oil ahead of April's last update. A Brexit vote makes a similar trend unlikely this time, although there should be plenty for stock watchers to get their teeth into. Ahead of first-half results next month, look for news on operational news flow at the Jubilee field, offshore Ghana. Expect more on the TEN fields, also in Ghana, and plans to restart drilling in Kenya.

"As a US dollar-denominated business with very limited operational activity within the EU, the outcome of the Britain’s EU membership referendum cannot materially impact Tullow," says Barclays analyst James Hosie.

"However, sustained sterling weakness against the dollar would be positive for our p/share sum-of-the-parts valuation: revising our USD/GBP assumption from $1.50/£ to the spot rate of ~$1.41/£ would increase our tangible net asset value by 6% to 324p/share."

Trading Statements

IPSA Group, Outsourcery, Mercia Technologies, John Wood Group, Serco

AGMs/EGMs

Yolo Leisure And Technology, Stobart Group, Strat Aero, Auctus Growth, Westminster Group, Public Power Corp, Bond International Software, Megafon, Mariana Resources, London Capital Group Holding, Advanced Oncotherapy, Nostra Terra Oil & Gas, Plaza Centers NV, Onzima Ventures, Gameaccount Network

Friday 1 July

Trading Statements

AGMs/EGMs

Bellzone Mining

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.

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