Wednesday preview: US results, CRH in focus

The focus on Wednesday will continue to be on the avalanche of quarterly reports scheduled for release in the States.

Among the companies set to update investors across the Pond were AT&T, Biogen, Boeing, Caterpillar, Facebook, Microsoft, Tesla and Visa.

Back on home turf, the Office for National Statistics was set to release a reading on public sector net borrowing for the month of April at 0930 BST.

The consensus forecast was for a borrowing requirement of just £0.5bn in March, after £0.2bn during the previous month, leaving the trailing 12-month total at £18.3bn less than in the year before.

Across the Channel meanwhile, readings were due out on business confidence in Belgium, France and Germany all for the month of April.

No economic data was set for release in the US, but investors would be watching the Bank of Canada's decision on monetary policy.

Weekly oil inventory figures from the Department of Energy were also due out.

US-focused building materials supplier CRH is among the corporates that are set to update markets on Wednesday.

Ahead of the company's trading statement, Numis's Christen Hjorth called attention to recent press speculation that the company might sell its European Distribution business for €2.0bn.

Terming the price tag for the unit "attractive", Hjorth said a sale was likely to be of "key interest to shareholders as it could validate a SOTP valuation approach that suggests scope for relatively significant upside from here."

Investors should however take note of the "relatively poor" weather seen in the US during the first quarter of 2019, she said.

The first quarter was typically "relatively insignificant" regarding full year numbers, but investors were likely to focus on the US outlook "following recent macro concerns", confirmation of a second share buyback programme and whether management was sticking to its "ambitious" target for EBITDA in 2021, the analyst added.

Wednesday April 24

INTERIMS

AB Dynamics, Associated British Foods

INTERIM DIVIDEND PAYMENT DATE

Close Brothers Group

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Crude Oil Inventories (US) (15:30)

IFO Business Climate (GER) (09:00)

IFO Current Assessment (GER) (09:00)

IFO Expectations (GER) (09:00)

FINALS

Maxcyte (DI), Mi-Pay Group, Petropavlovsk, PureTech Health , WANdisco

AGMS

AIB Group, Biome Technologies, Croda International, CVC Credit Partners European Opportunities Ltd GBP, EP Global Opportunities Trust, Glanbia, Global Invacom Group Limited (DI), Hutchison China Meditech Ltd, RTC Group, Science Group , Shanta Gold Ltd., SpaceandPeople, SThree, Thalassa Holdings Ltd. (DI), Tribal Group

TRADING ANNOUNCEMENTS

Croda International

UK ECONOMIC ANNOUNCEMENTS

Public Sector Net Borrowing (10:30)

FINAL DIVIDEND PAYMENT DATE

Shore Capital Group Ltd.