Wednesday preview: US data, Tullow Oil in focus

Nature abhors a vacuum, as do traders, but fortunately the flow of economic releases is set to pick-up some on Wednesday.

Stateside, the main piece of new information will come in the form of a preliminary reading on durable goods orders for the month of May, alongside the 'advance' reading on international trade in goods referencing that same period.

Readings on wholesale inventories and the NAHB's Pending Home Sales Index are also due out.

Across the Channel meanwhile, ISTAT's June indices on business and consumer confidence in Italy may make for an interesting read given the political landscape in the Eurozone's third-largest economy.

Euro area money supply data for May are also set to be published alongside that Italian data, at 0900 BST.

At home, at 1030 BST the Bank of England will publish the June Financial Stability Report.

On the corporate side of things, investors will be looking out for a trading statement out of Tullow Oil.

UBS thought it likely that the explorer would provide an update on the four wells that it was set to drill in Ghana in 2018, the first of which, in the Ntomme field, was set to come online later in June.

In a research note sent to clients, analyst Amy Wong said she would also be looking for further colour on plans to deploy a second rig to Ghana and early progress on the early oil production scheme in Kenya, at Lokichar.

Wong's forecasts called for full 2018 fiscal year production of 85,000 barrels of oil equivalent a day, on the back of a strong showing at TEN, versus the company's own guidance for output to run in a range of 76-85,000 boe/d.

Elsewhere on the FTSE 350, Just Eat was scheduled to host a Capital Markets Day.

According to the same Swiss broker, much of the emphasis was expected to be on the firm's delivery services, in terms of "framing" its addressable market and providing more details on unit economics.

Any information regarding the shape of delivery investments beyond fiscal year 2018 would prove "very valuable", UBS said.

Wednesday June 27

INTERIM DIVIDEND PAYMENT DATE

Baring Emerging Europe

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Crude Oil Inventories (US) (15:30)

Durable Goods Orders (US) (13:30)

M3 Money Supply (EU) (09:00)

MBA Mortgage Applications (US) (12:00)

Pending Homes Sales (US) (15:00)

GMS

Relx plc

FINALS

Great Eastern Energy Corp Ltd. GDR, Liontrust Asset Management, Sysgroup, Tatton Asset Management , ULS Technology

AGMS

Amati AIM Vct , Animalcare Group, Atalaya Mining, British American Inv Trust, Caledonia Mining Corporation (DI), Crawshaw Group, DCD Media, Downing Strategic Micro-Cap Investment Trust Red, Dragon-Ukrainian Properties & Development, Exillon Energy, First Derivatives, Helios Underwriting, Hemogenyx Pharmaceuticals , HydroDec Group, Keystone Law Group , Kore Potash, Midatech Pharma , Monreal , Pacific Assets Trust, PJSC RusHydro ADR , Rockrose Energy, Rurelec, Shield Therapeutics, Sumo Group , Venn Life Sciences Holdings, Walker Greenbank, Watchstone Group, Wentworth Resources Ltd (DI), Whitbread

TRADING ANNOUNCEMENTS

Bunzl, Whitbread

FINAL DIVIDEND PAYMENT DATE

Ferrexpo, Maruwa Co Ltd., STM Group

FINAL EX-DIVIDEND DATE

Charles Stanley Group, Renewi