Wednesday preview: Bank of Canada, Legal&General in focus

The focus on Wednesday is likely to be on the central bank in Canada to see if rate-setters in Ottawa follow the Reserve Bank of Australia and US Federal Reserve's lead and decide to cut benchmark interest rates.

As recently as 28 February, they had been expected to remain on hold, but the ground and investor sentiment had been shiftig beneath their feet.

To take note of, there was some 'market chatter' in the background regarding the possibility of an outright contraction in the global economy in 2020.

Investors will also be keeping an eye out for policy-relevant remarks or decisions by other economic authorities around the world, even as they monitor the incoming headlines on the virus.

A raft of services sector purchasing managers indices are also due out against that badckdrop, including in the UK at 0930 GMTLegal&General is among the names that are scheduled to update markets on Wednesday.

For the insurer's second-half numbers, UBS analyst, Colm Kelly, is anticipating a 2% year-on-year dip in IFRS operating profits, excluding longevity releases, to reach £972m (consensus: £989m).

Operating profits at the annuity business were seen 8% lower to £582m (consensus: £550m), alongside a 8% rise at L&G Investment Management, a 19% jump at L&G Capital and a 3% decline at L&G Insurance.

The solvency II ratio meanwhile is pegged to come in at 186% before adjusting for the final dividend (consensus: 181%) and 177% after it.

The final dividend is seen 5% higher year-on-year to 12.41p (consensus: 12.63p).

Wednesday 04 March

INTERIMS

Allergy Therapeutics, Gfinity

INTERIM DIVIDEND PAYMENT DATE

Stagecoach Group

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

ISM Non-Manufacturing (US) (15:00)

MBA Mortgage Applications (US) (12:00)

PMI Composite (EU) (09:00)

PMI Composite (GER) (08:55)

PMI Composite (US) (14:45)

PMI Services (EU) (09:00)

PMI Services (GER) (08:55)

PMI Services (US) (14:45)

Retail Sales (EU) (10:00)

Retail Sales (GER) (07:00)

FINALS

Attraqt Group , BATM Advanced Communications Ltd., Devro, Elementis, Hill & Smith Holdings, Hostelworld Group , Legal & General Group, Polymetal International, Vivo Energy

AGMS

Chemring Group, Inland Homes, Pressure Technologies, River and Mercantile UK Micro Cap Investment Company Limited