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Tuesday's agenda: A pint and a bet - Greene King & Betfair

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Traders may be interested in taking a punt on Betfair continuing its revival when it releases interim results on Tuesday.

"Earnings are now of higher quality, given the increasing percentage of profits from ‘sustainable markets’," claims broker Panmure Gordon.

The broker is tipping underlying earnings (EBITDA) of £50mln, up from £46mln the year before.

"We await an update on the progress of the integrated sports book and any early anecdotal evidence from operating in New Jersey," the broker said.

New Jersey is the state that is in the process of liberalising online gaming to cash in on the historic reputation of Atlantic City as a casino hub.

The same day, pubs group Greene King releases interim results, with the market expecting profit before tax of around £87mln.

The group remains Deutsche Bank's favoured UK pub retail play, given its track record and benign geographical exposure.

"At the H1 [half-year] stage last year, lfls [like-for-like sales] were +5.1%, so the comp remains a tough ask. On the back of some strong recent lfls for the group’s London-based peers, we estimate that the H1 lfls will still be c.+4%. The summer performance was aided by the drinks-led focus in the Locals estate. We expect most of the 18wk trends to have been sustained for H1, with food and accommodation also up by c.+5%," the German bank said.

Significant announcements expected

Companies: Finals: Gooch & Housego (LON:GHH), InfraStrata (LON:INFA). Interims: API Group (LON:API), Betfair Group (LON:BET), Greene King (LON:GNK), Sweett Group (LON:CSG), Daisy Group (LON:DAY), Micro Focus International (LON:MCRO), Northgate (LON:NTG), Park Group (LON:PKG), Vianet (LON:VNET).

Macroeconomic: UK: BRC Retail Sales Monitor, Halifax HPI, Construction PMI, Construction PMI. EU: Spanish Unemployment Change, PPI. US: IBD/TIPP Economic Optimism.

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