The trading week kicks off with the latest traffic figures from easyJet (LSE: EZJ). Last month, easyJet posted a 2% rise in passenger numbers but turbulence in the airline industry has seen British Airways (LSE: BAY.L
- news) (LSE: BAY) ask its workers to work for free. In addition, Virgin Atlantic could lay off more workers on top of 600 job losses announced earlier this year. That said, the prospects for healthy June passenger numbers at easyJet look good following news that 40% of available seats in the summer have already been booked.
The base rate boogie
Interest rates are back on the agenda next Thursday. The prospect of a hike in rates look as remote as the Labour Party winning the next election. So, the smart money is on the Bank of England keeping them on hold at 0.5% for a fifth month in a row.
With interest rates at historical lows, there have been some signs that the housing market may be stabilising. And where better to hear about the state of the housing market than from the horse's mouth?
Two big housebuilders are due to issue updates next week. Persimmon (LSE: PSN.L - news) (LSE: PSN) will be providing a trading update on Tuesday, ahead of its interim results in August, while Barratt Developments (LSE: BDEV.L - news) (LSE: BDEV) is pencilled in for a full-year trading update on Thursday. Barratt said in May that the spring selling season has shown improved visitor traffic. However, it warned that house buyers were still having problems securing mortgages.
Travis Perkins (LSE: TPK.L - news) (LSE: TPK) may shed light on the health of the construction industry. The builder's merchant, which recently raised £300m to reduce its debt pile, will deliver interim results on Thursday. It's already said that revenues for the first four months of the year were down by 14%.
Striking oil
Oil is trading at half the record price of $145 a barrel a year ago. However, interest in oil companies remains strong on hope that oil explorers will be some of the main beneficiaries when the global economy recover. Tullow Oil (LSE: TLW.L - news) (LSE: TLW) is one company that could profit. The explorer has discovered about 700 million barrels of oil in Uganda, but reckons the region could yield over a billion barrels.
Associated British Foods (LSE: ABF.L - news) (LSE: ABF) is today as closely associated with Primark as it is with Silver Spoon sugar. However, there was nothing lip-smackingly sweet in its April half-year report card. AB Foods said its Grocery division had been adversely affected by the high price of corn oil. An improvement is expected in the second half of its financial year, driven by the opening of seven new Primark stores and the creation of 2,000 new jobs.
Finally, tune in to Man Group (LSE: EMG.L - news) 's (LSE: EMG) trading update on Thursday. The hedge fund manager posted a 64% fall in full-year profits in May, as a result of greatly reduced management and performance fees. Currently, shares in Man Group are yielding an eye-popping 10%, which is about twice the market average. Thursday's update could provide more information on how sustainable this payout really is.
Notable results and updates:
Monday: St. Modwen Properties and easyJetTuesday: Michael Page (LSE: MPI.L - news) , Persimmon and Clapham House (LSE: CPH.L - news) Wednesday: 3i, Carillion (LSE: CLLN.L - news) , Tullow OilThursday: Barratt Developments, Man Group, Travis Perkins, Begbies Traynor, Premier Oil (LSE: PMO.L - news) , Computacenter (LSE: CCC.L - news) , Hays (LSE: HAS.L - news) and AB FoodsFriday: Interserve (LSE: IRV.L - news)