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Week ahead: Sainsbury's back in the news with latest half year numbers

Last updated: 17:00 09 Nov 2014 AEDT, First published: 18:00 09 Nov 2014 AEDT

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One of the UK's big supermarkets Sainsbury's (LON:SBRY) will be back in the news this week, when it reports its first half results on Wednesday.

It comes after the group launched last week a joint venture with a Danish partner to open Netto cost saving stores.

New chief executive Mike Coupe faces a baptism of fire as the supermarket has been forced to slash prices as a shift towards convenience shopping and fierce competition has hit sales.

US broker Jefferies says the firm remains the ‘most vulnerable of all UK grocers’ but expects first half profits to be helped by the supermarket’s bank and ‘contained’ gross margin investment.

The broker repeats a ‘hold’ recommendation and target price of 250p. Shares were trading at 245.5p on Friday.

Having sold its stake in stake in Verizon Wireless earlier this year, investors have been keeping an eye on Vodafone (LON: VOD), which reports interims on Tuesday. 

The telecoms business has had to plough vast sums in organic investment and acquisition activity to resuscitate its lagging European operation.

This is facing convergence competition from major players and price competition from smaller ones.

Elsewhere, can Flybe (LON:FLYB) keep pace with its budget airline rivals? 

The firm releases its interim results on Wednesday having seen the likes of Easyjet (LON:EZJ) and Ryanair (LON:RYA) post strong earnings. 

Next week also sees two representatives from the housing sector, Redrow (LON:RDW) and Barratt Developments (LON:BDEV) giving updates, while a leading UK housing survey will reveal key indicators in the residential sector such as new buyer enquiries and sales.

Significant announcements expected: 

Monday

Companies: Interims; AVEVA (LON:AVV

Finals; Lonmin (LON:LMI), Carr’s Milling Industries (LON:CRM)

Trading statement: Redrow (LON:RDW), Just Retirement Group (LON:JRG)

Economic: Europe: Sentix Investor Confidence UK: British Retail Sales Monitor, 

Tuesday

Companies: Interims; Vodafone (LON:VOD)

Finals; Fenner (LON:FENR)

Trading statement; John Menzies (LON:MNZS), Taylor Wimpey (LON:TW.), Sportech (LON:SPO)

Economic: US: Small business optimism; store sales. Asia: Japan household confidence

Wednesday

Companies: Interims; Sainsbury's (LON:SBRY), Burberry Group (LON:BRBY), Flybe (LON:FLYB)

Trading Statement; Moneysupermarket.com Group (LON:MONY), Barratt Developments (LON:BDEV

Economic: UK: Average earnings; RICS Housing Market Survey. US: Mortgage Market Index 

Thursday 

Companies: Interims; Caledonia Mining (LON:CMCL), Great Portland Estates (LON:GPOR), London Stock Exchange (LON:LSE)

Finals; AB Dynamics (LON:ABDP)

Trading statement; Ted Baker (LON:TED), Premier Oil (LON:PMO), Catlin Group (LON:CGL), Gulf Keystone Resources (LON:GKP)

Economic: China: Industrial Production. US: Federal Budget Balance

Friday

Companies; Interims, Romgaz (LON:SNGR)

Trading statement; Aggreko (LON:AGK), Hill & Smith Holdings (LON:HILS)

Economic: Europe: EU Consumer Price Index, French GDP. US: Export and Import Price Index, inflation forecasts.

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