Balfour Beatty pins hopes on interim results to turn tide
Fears over the global economy were knocking Balfour Beatty's share price even before the markets slumped and the latest fall has caused Britain's largest infrastructure services company to drop by around a quarter since March. The group will be hoping it can reverse the trend, starting this Wednesday when it releases its interim results.
At the start of July, Balfour issued a trading statement for the first half of the year - during which time it finished work on the Aquatics Centre in east London for the 2012 Olympics - in which it said it was on track to meet its targets.
Citigroup expects Balfour's results to be "solid", and analyst David Phillips is predicting its earnings before interest, tax and amortisation to come in at around £140m. This would be roughly 7% lower than the previous year.
Mr Phillips notes that Balfour has suggested the usual weighting of its full-year results towards the second six months will be higher than usual, and expects the rest of the year to end up, providing around 60% of its profits.
The reporting season for the insurance sector has largely drawn to a close, but Resolution still has its first-half results to announce. Given the buy-out vehicle's acquisition of Axa's UK life business last year, Citigroup expects the group - whose other businesses include Bupa Health Assurance and Friends Provident - to reveal earnings for six months of £372m.
In a quiet week, Eurasian Natural Resources is one of just a few blue chips updating the market.
Savills releases its interim results, with UBS predicting it could provide the spark for the estate agent's share price to rally.
Results and updates: Jupiter Fund Management.