THE City has been awash with updates from retailers over the last couple of weeks, but one of the most eagerly-awaited - Marks & Sparks - has been kept almost to last.

And with few companies set to report next week, its trading statement will provide one of the main highlights for the City's critical eyes.

The market is expecting the worse from Marks & Spencer on Tuesday, with like-for-like clothing sales forecast to be down by around seven per cent.

Analysts will be looking for firm evidence that the situation is improving, and will be particularly keen to learn how much the retailer's supply chain efficiency drive may contribute to profits in the second half of the year.

Another interesting aside will be the appearance of M&S' new managing director Roger Holmes, who jumped ship from Kingfisher last year, and his views on how long it will take to turn the company around.

Analysts are hoping software group Misys will present an upbeat forecast for the full year when it presents its interim results on Thursday, and that it is returning to its long-term growth rate of around 20 per cent per annum.

Such an outlook would provide proof that the software market is beginning to shake off the sluggish start to the year caused by the hangover from Y2K, and that demand is improving in all the product areas targeted by the healthcare group.

Profits are expected to be held back by the company's continued investment in e-commerce services for the healthcare and finance markets, with stockbroker Gerrards forecasting a drop to £48.3m from £51m last year.

Hopes for an cut in interest rates could intensify next week when the minutes of the Bank of England's Monetary Policy Committee are published.

These will show just who called for a cut in rates this month. Two members called for a cut in December and the presence of any more names in January will likely lead to a clamour for early action.

lCompanies reporting in the week beginning January 22 include:

MONDAY - Interims: Ashtead Group.

TUESDAY - Finals: Chemring Group, IMS Group. Interims: John Menzies, SFI Group. AGMs: BSoftB, Victrex, VTR.

WEDNESDAY - Finals: Kensington Group, Parthus, Porvair.

Interims: Just Group, Stanley Leisure.

THURSDAY - Finals: Fitness First, Partridge Fine Arts, Snackhouse.

FRIDAY - Finals: London Bridge Software. EGMs: Friends Prov Ethical.