Banking stocks have found interest again amongst speculators even though structural concerns remain within european banking while the euro survival itself still lends uncertainty to currency markets.
Lloyds Banking Group, RBS shares and Barclays have all risen around 30% on average in the last month while HMV Group staged a remarkable rally on Friday of 197%.
HMV investors now wonder if the latest banking provisions will buy the firm enough time to restructure its business plan.
Reporting Monday City of London Investment Group, Optos and a couple of investor oil stocks favorites in Dragon Oil and Cairn Energy.
Some years ago Dragon Oil was on speculators shopping list and the shares duly did not disappoint after firms Caspian adventures found interest with oil majors and lucrative opportunity for Dragon Oil.
Now Cairn Energy takes a place in the spotlight after rumours in the press that it may bid for Falklands oil leader Rockhopper Exploration.
Merchant Securities believe Cairn would be a logical partner for Rockhopper given its track record in developing oil assets. This latest trading update may provide clues to its strategy going forward plus intentions for Cairns Greenland ventures.
On Tuesday Playtech, International Ferro Metals Group, Land Securities Group, Sage Group, Carphone Warehouse Group all scheduled to release updates, plus Cussons and Chemring.
Imperial Leather maker PZ Cussons reveals interim figures on Tuesday. The company has performed well during the downturn and has little debt. At 319p price the shares are on forward P/E of 21. Panmure Gordon maintains a 'hold' recommendation for the shares.
Also prelim results from defence and aerospace group shares Chemring currently on a P/E of 8.6 and yielding a dividend of around 3% but military spending always first cutbacks during any downturn. The shares have fallen from 740p to around 460p
First quarter statement also from business management softward firm Sage Group expected to maintain its consistant performance. Originally known for accounting software the firm reinvents quickly to target new latest niche business requirements.
Wednesday has a trading update from drinks firm Britvic plus Safestore Holdings, Ebiquity, Renishaw, Metric Property Investments and BTG.
WH Smith also reports on Wednesday. The latest of the high street retailers to indicate how the all important Christmas trading period went. Shares currently on a prospective P/E of 9. Analysts expect a dividend of 4.8%.
Self-storage firm Safestore Holdings also releases results after a November trading update offered an upbeat note, the forecast dividend should could offer 5.2% based on the current share price.
Engineer Renishaw provides interims on Wednesday expected to indicate recovery signs after the recession while fellow engineer Invensys reports on Thursday. Credit Suisse retains a neutral rating and 210p target price Invensys although earnings estimates are cut back.
The only catalyst we see for the shares over the next 12 months is a bid approach says Credit Suisse adding that with no immediate action to reduce the firm pension fund deficit, 'there is no hurry for bidders to act'. Also on Thursday three mining firms with Gem Diamonds, Petropavlovsk, Kazakhmys and easyJet.
The budget airlines first quarter update on Thursday could reflect a fall in holiday traffic through early winter while there is also a third quarter update from London Stock Exchange Group and an interim statement from banking software specialist Misys. For the latest updates on the stock market, visit Stock Market Today
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