Thursday preview: Home Retail reports first quarter trading update sans Homebase

Home Retail reports its first quarter trading update on Thursday which will cover only Argos following the completion of its Homebase disposal.

DYI chain Homebase was sold to Australian firm Wesfarmers in February for £340m and rebranded as Bunnings, which was seen to make Home Retail more attractive to its suitor Sainsbury.

Earlier this year Sainsbury's agreed a £1.4bn takeover for Home Retail Group with a deal expected to be complete during the third quarter.

However, last month the Competition and Markets Authority said it would examine the deal to see if it would lead to "a substantial lessening of competition" for consumers.

In April the group reported its full year results which showed flat sales at Argos as the division underwent a transformation, including improvements in its digital offering and the introduction of same-day fast track delivery and collection.

Numis said it expects “broadly similar trends” in the first quarter.

On the macro-economic data front, China inflation figures will be in focus amid worries about the health of the world’s second largest economy. The consumer price index is expected to grow an annualised 2.3% in May, unchanged from the previous month.

Thursday 09 June

INTERIMS
Private & Commercial Finance Group, Watkin Jones

INTERIM EX-DIVIDEND DATE
Artemis VCT, Aviva 8 3/4% Cumulative Irrd Preference 1, British Empire Trust, Brunner Investment 5% Prf, Connect Group, Daily Mail and General Trust A (Non.V), General Accident 'A', Hargreave Hale AIM VCT 1, Income & Growth VCT , ITE Group, JPMorgan Indian Investment Trust, Lakehouse, Octopus Eclipse VCT 1, Schroder UK Mid Cap Fund, Shaftesbury, Topps Tiles, Urban&Civic , Victrex plc

QUARTERLY EX-DIVIDEND DATE
Albion Technology & General VCT, Brunner Inv Trust, Ediston Property Investment Company, Regional REIT Limited

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Trade (GER) (07:00)
Continuing Claims (US) (13:30)
Current Account (GER) (07:00)
Initial Jobless Claims (US) (13:30)
Wholesales Inventories (US) (15:00)

FINALS
Auto Trader Group , First Property Group, Flybe Group, Volex, Volex

SPECIAL DIVIDEND PAYMENT DATE
Netplay TV

SPECIAL EX-DIVIDEND PAYMENT DATE
Artemis VCT, B&M European Value Retail S.A. (DI), Helios Underwriting, Perpetual Income & Growth Inv Trust

AGMS
AA , Atlas Mara Limited (DI), Avocet Mining, BlackRock Smaller Companies Trust, Dignity, London & Associated Properties, London & Associated Properties, Martin Currie Global Portfolio Trust, Michael Page International, Northacre, Robert Walters, Scisys, Soco International

TRADING ANNOUNCEMENTS
PZ Cussons

UK ECONOMIC ANNOUNCEMENTS
Balance of Trade (09:30)

FINAL DIVIDEND PAYMENT DATE
Legal & General Group, Macfarlane Group, Netplay TV, Seplat Petroleum Development Company (DI)

FINAL EX-DIVIDEND DATE
Aberdeen Japan Investment Trust , Acal, Air Partner, Anglo-Eastern Plantations, Arrow Global Group, Booker Group, Brammer, Camellia, Capital Gearing Trust, Christie Group, Cineworld Group, Edinburgh Inv Trust, Helios Underwriting, Hunting, Johnson Matthey, Judges Scientific, Learning Technologies Group , London Security, M&C Saatchi, Restore, Scottish Mortgage Inv Trust, Vodafone Group, Weiss Korea Opportunity Fund Ltd, WPP, Young & Co's Brewery 'A' Shares