Week ahead in business and economics: September 22-26

Data tomorrow are expected to show a modest improvement in August, with this year’s surge in stamp duty land tax receipts expected to continue.

Nationwide will release its latest house price index on Thursday. The market has slowed over the summer, although economists expect annual house price inflation to remain in double-digits. The Confederation of Business Industry’s monthly retail sales barometer is also out this week.

Monday September 22

Full-year results Allergy Therapeutics, Finsbury Food Group, Gemfields

Interim results Moss Bros

Trading update Dairy Crest Group

Economics ONS house price index

Meetings None scheduled

Tuesday September 23

The world’s largest cruise operator Carnival, which owns brands such as Cunard and Costa Cruises, is expected by Morgan Stanley analysts to beat third-quarter guidance, despite a price war in the key Caribbean market.

Carnival has beaten guidance in each of its last three quarters. However, it warned its yields would come under pressure in the third quarter due to fierce competition between cruise ship operators to the Caribbean. Some companies have taken an axe to prices to attract customers, although Carnival has tried to limit any discounting.

Morgan Stanley believes last-minute demand in the US will have helped the group and expects earnings per share of $1.49 (91p), above guidance of $1.38-$1.44.

Cambridge-based “test tube patient” maker Horizon Discovery, which floated to much fanfare in March, posts its maiden results.

The group, which grows batches of cells containing tailored DNA for use in drug research, is expected to report a 36pc increase in first half revenues to £4.06m.

However, investors are likely to be looking ahead to the company’s second half, which will see the full benefit of Horizon’s £4.74m acquisition of CombinatoRx from US biotech Zalicus. The deal expanded Horizon’s capabilities in providing sophisticated drug discovery tools to pharmaceutical companies. Mike Mitchell, analyst at Panmure Gordon, thinks the company can bag £10m in full-year revenue.

Full-year results Close Brothers Group, Netcall, Regenersis

Interim results AA, AG Barr, Carnival, Horizon Discovery Group, KBC Advanced Technologies, PZ Cussons

Trading update None scheduled

Economics UK public sector net borrowing

Meetings PZ Cussons (AGM), Sirius Minerals (AGM)

Wednesday September 24

Water companies have a habit of delivering steady results and investors will expect trading at United Utilities to be in line with expectations. But the company’s results are at risk of being overshadowed by an ongoing dispute with Ofwat over its spending plans for the next five years. Any comments from the company surrounding the recent draft price proposals from the water sector regulator will be welcomed by investors thirsty for news ahead of the group’s October 3 deadline to formally respond to Ofwat.

Speciality pharmaceuticals group Clinigen delivered a dose of good news to investors in July when it said its gross margin had increased to more than 30pc in the year to June. Investors are expecting the group to post double-digit profit growth in its full-year results. Clinigen’s rapidly growing “global access programme”, which gets urgently needed medicines to patients in countries where the product is not licensed, was one of the key drivers of bottom-line growth this year. Shareholders will also be looking for more detail on the company’s recent acquisition of Ethyol – a drug which treats the side-effects of chemotherapy – from AstraZeneca. They will be keen to hear how Clinigen plans on doubling revenues for the drug, which stood at $4.9m (£3m) in 2013, over the next three years.Charles Weston, analyst at Numis, expects pre-tax profits to climb 17pc to £26m, far outstripping revenue growth of 3pc to £126.3m.

Full-year results Clinigen, Eagle Eye Solutions Group, Origin Enterprises

Interim results None scheduled

Trading update Topps Tiles, United Utilities, UK Mail Group

Economics None scheduled

Meetings None scheduled

Thursday September 25

Full-year results Hansard Global

Interim results Lloyds’ of London, Hennes & Mauritz, Manx Telecom, Nike, Surgical Innovations

Trading update Atkins (WS), Mitchells and Butlers

Economics SMMT vehicle manufacturing, Nationwide house price index

Meetings Ryanair (AGM), Micro Focus International (AGM)

Friday September 26

Full-year results None scheduled

Interim results Blackberry

Trading update None scheduled

Economics None scheduled

Meetings Boohoo.com (AGM), Filtronic (AGM)

more