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Tuesday's agenda: A tale of two countries at Kingfisher

Last updated: 12:29 24 Nov 2014 EST, First published: 13:29 24 Nov 2014 EST

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DIY retailer Kingfisher is enjoying divergent fortunes on either side of the Channel.

The UK & Northern Ireland estate has likely been enjoying the Indian summer, while the French estate has to cope with the wilting Gallic economy.

“The current performance of both, alongside management’s expectations for the rest of the year, will be one of the main points of interest in this trading update,” suggests Sheridan Admans, at The Share Centre.

“Investors will be viewing these results in the context of the recent decision of Homebase, the great rival to Kingfisher’s B&Q chain, to close 25% of its stores,” he added.

Interims from Severn Trent are likely to be overshadowed by the industry regulator’s price determinations, due to be announced on 12 December.

Deutsche Bank thinks that once that review is out of the way, bid speculation may re-emerge.

“While not a foregone conclusion the trend of bids in the UK water sector is clear in our view, with infrastructure funds accepting more gearing and valuing low risk regulatory returns more highly than listed equity investors. Once the review is completed there may be scope for bids, or even mergers,” Deutsche Bank reckons.

IT security and risk management software provider Accumuli will report interims and broker Northland notes the October pre-close pointed to in line trading with strong order intake in Q2.

“The company has been actively recruiting to fulfil the Professional Services demand and has now passed 100 staff. This represents a core challenge in the IT security space,” the broker said,

Significant annouuncements expected

Companies: Interims: Accumuli (LON:ACM), AO World (LON:AO.), Byotrol (LON:BYOT), Caledonia Investments (LON:CLDN), Chamberlin (LON:CMH), Creston (LON:CRE), De La Rue (LON:DLAR), Essar Energy (LON:ESSR), KCOM (LON:KCOM), Quintain Estates (LON:QED), Renold (LON:RNO), Scapa Group (LON:SCPA), Severfield-Rowen (LON:SFR), Severn Trent (LON:SVT), Signet Jewellers (LON:SIG)

Finals: Cambria Automobiles (LON:CAMB), Greencore Group (LON:GNC), Mitchells & Butlers (LON:MAB), Renew Holdings (LON:RNWH), Topps Tiles (LON:TPT), Zoopla Property Group (LON:ZPLA)

Trading statement: Kingfisher (LON:KGF), IG Group (LON:IGG)

Economic: German GDP QoQ, Insee French business survey, US GDP QoQ

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