Tuesday preview: Ashmore Group reports full year results

FTSE 250 listed investment manager Ashmore Group is expected to report a decline in earnings and revenues when it publishes its full year results on Tuesday.

The asset manager’s performance in recent years has been hurt by the slowdown and volatility in emerging markets where the company specialises its investments.

Numis has pencilled in pre-tax profit of £145m, down from £181.3m the previous year, on net revenue of £237m, compared to £283.3m in 2015. The broker expects a flat dividend per share of 16.7p.

Numis recommended a ‘sell’ rating on the stock and a target price of 280p. “We consider our negative recommendation as a short term call, as we like the business long term, but think the market valuation is unrealistic today,” said analyst David McCann.

Tuesday September 06

INTERIMS
Applegreen, Berkeley Group Holdings (The), Curtis Banks Group, Dalata Hotel Group, Forbidden Technologies, Harworth Group, Hydro International, InterQuest Group, Johnson Service Group, Learning Technologies Group , Learning Technologies Group , Somero Enterprises Inc. (DI), SQS Software Quality Systems AG, Stadium Group, TCS Group Holding GDR (Each Repr 1 A Shr) (Reg S)

INTERIM DIVIDEND PAYMENT DATE
LSL Property Services

QUARTERLY EX-DIVIDEND DATE
Schlumberger Ltd.

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Factory Orders (GER) (07:00)
Gross Domestic Product (EU) (10:00)

Q2
Dalata Hotel Group, Forbidden Technologies, TCS Group Holding GDR (Each Repr 1 A Shr) (Reg S)

FINALS
A&J Mucklow Group, Craneware, Mattioli Woods, Redrow

AGMS
Aster Treasury 4.50% GTD Sec Bds 18/12/43, Bacit Limited, Berkeley Group Holdings (The), Creston, Imagination Technologies Group, ReNeuron Group, Severfield, Smith (DS), Work Group

TRADING ANNOUNCEMENTS
Halfords Group, Pennon Group

UK ECONOMIC ANNOUNCEMENTS
BRC Shop Price Index (00:01)