The Week Ahead: Queen's Speech, GDP and Marks & Spencer

This week ahead is a traditional affair which as the Queen unveils her Speech - with leaked details showing 'radical' changes (21 new bills) ahead - aimed at pushing through dozens of new laws in the UK over the next 18 months.

The news will be welcomed by the industry as it will likely include a massive 'repeals' bill to scrap legislation introduced by the previous Government and save money.

Meanwhile banking reform may also be announced.

The VAT increase in January was blamed for the rise in inflation and a rise in fuel prices likely to feed into the economy over the course of the year, and investors will be looking for the 'coalition' approach to dealing with these also in the emergency budget 22 June.

Gross Domestic Product (GDP) for the first three months - currently 0.2 pct - will also be updated tomorrow giving them some insight into where the economy is heading.

"The weather in the early part of 2010 was highlighted as a likely drag factor. More positively, the 0.7 percent increase in industrial output on the quarter was the strongest in four years, although output from the utility sector, thanks to the cold weather, may have proved a factor. Nonetheless, subsequent data has suggested the coming second estimate could be revised upwards." said Keith Bowman at Hargreaves Lansdown Stockbrokers.

"Recent industrial production for February 2010 came in substantially higher than expected, with the weather having made some improvement." he added optimistically.

However a rising inflation combined with worries over the US' economic recovery will likely overshadow any positive news on GDP. The US economy rose 3.2 percent annually so far this year and analysts will be looking to Thursday's second estimate for greater hope on global recovery.

On the corporate front meanwhile, this week follows up on last week's Utilities with Severn Trent announcing full year results on Friday.

Management noted that trading was in line in their recent third quarter update and focus is likely to remain on 'customer bad debt levels' which remain at around 2.3 percent of turnover.

"Consensus market opinion currently denotes a strong hold." says Keith Bowman.

Other groups reporting over the week include, Man Group, Tate & Lyle (Thursday), De La Rue, the coinmaker (Tuesday) and Burberry (Wednesday).

A full list can be seen below.

Marks & Spencer's, iconic high street store with over 126 years history in the UK, goes on Tuesday.

The Week Ahead

Monday – Invensys (F), Chloride Group (F)
Tuesday – Marks & Spencer (F), De la Rue (F), Pennon Group (F),
Wednesday – Burberry Group (F),
Thursday – Cable & Wireless Communications (F), Daily Mail & General Trust (I), Man Group (F), Tate & Lyle (F)
Friday – Severn Trent (F)

Key: Full year results (F), Interim results (I), First quarter trading update (Q1)