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Week ahead: Gulf Keystone looks ahead after momentous week


Results from Gulf Keystone Petroleum (GKP) on Thursday are sure to have the company's legion of fans excited.

GKP celebrated a comprehensive victory in the courts last week in its lengthy legal battle with Excalibur Ventures over ownership of its oil fields in the Kurdistan region of northern Iraq.

The judge ruled that Excalibur, a two-man vehicle set up by former US Special Forces operative Rex Wempen, had no valid claim over the Shaikan field or any other of GKP’s assets, having claimed up to 30% of the fields.

The court case had stalled plans for a main market listing, but now the path is clear for it to make the shift and the company has engaged Deutsche Bank to direct its move from AIM.

Gulf Keystone's move to a full market listing will leave online clothes retailer ASOS as the undisputed heavyweight of the junior market, and it too is reporting this week.

Peel Hunt is predicting fourth quarter retail sales growth of 43.2% - yes, you read that right - 43.2%, "underpinned by a further acceleration in UK sales, reflecting both favourable weather conditions and the continued upside from increased digital marketing".

The key focus will be the launch of the Russian web site, the broker reckons, where we can expect accelerating and explosive sales performance, according to Peel Hunt's Stuart Duncan.

Next thing on the horizon is a launch in China.

House builders Galliford Try and Redrow are set to report full-year during the week.

There will not be much mystery about the former's pre-tax profits number as the management has already indicated it will be around £74mln, a record level for the company.

Redrow is expected to bash out pre-tax profits of £65.6mln on revenue of £601mln.

The company stopped paying dividends when the credit crunch took hold in 2008, but management has indicated it will recommend a modest dividend when it releases full year results. The market has pencilled in a figure of 2.07p.

Significant announcements expected


Companies: Finals: Allergy Therapeutics (LON:AGY), Petra Diamonds (LON:PDL), Transense Technologies (LON:TRT). Interims: Corac Group (LON:CRA), MyCelx Technologies Corporation (LON:MYX), Netdimensions (Holdings) Ltd (LON:NETD), Optimal Pay (LON:OPAY), PhotonStar LED Group PLC (LON:PSL), Simigon Ltd (LON:SIM), TLA Worldwide (LON:TLA), Waterlogic (LON:WTL).

Macroeconomic: UK: Rightmove HPI. EU: CPI, Core CPI. US: Capacity Utilization Rate, Industrial Production, Empire State Manufacturing Index, TIC Long-Term Purchases.


Companies: Finals: Galliford Try (LON:GFRD). Interims: Bond International Software (LON:BDI), Bango (LON:BGO), Burford Capital (LON:BUR), Camkids Group (LON:CAMK), Corero Network Security (LON:CNS).

Macroeconomic: UK: BOE Quarterly Bulletin, CPI, PPI Input, RPI, HPI, Core CPI, PPI Output. US: Core CPI, CPI, NAHB Housing Market Index.


Companies: Finals: Redrow (LON:RDW), Smiths Group (LOLN:SMIN), Town Centre Securities (LON:TCSC). Interims: Cello Group (LON:CLL), JD Sports Fashion (LON:JD.), Serviced Office Group (LON:SVO).

Macroeconomic: UK: MPC Meeting Minutes, Retail Sales, CBI Industrial Order Expectations. EU: Current Account, German ZEW Economic Sentiment, ZEW Economic Sentiment. US: Current Account, Unemployment Claims, Housing Starts, Building Permits, Existing Home Sales, Philly Fed Manufacturing Index, CB Leading Index, Federal Funds Rate, FOMC Statement, FOMC Economic Projections, FOMC Press Conference.


Companies: Interims: Gulf Keystone Petroleum (LON:GKP), IQE plc (ILON:QE), Networkers International (LON:NWKI), Premier Farnell (LON:PFL), Mission Marketing Group (The) (LON:TMMG). Finals: Swallowfield (LON:SWL), Wilmington Group (LON:WIL). Trading Statement: ASOS (LON:ASC), United Utilities Group (LON:UU.).

Macroeconomic: None scheduled


Companies: Interims: BrainJuicer Group (LON:BJU). Tawa (LON:TAW).

Macroeconomic: UK: Public Sector Net Borrowing. EU: Consumer Confidence.

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