Wednesday preview: Global services, DS Smith in focus
Financial markets' focus in the middle of the week will be on global services sector activity with survey results due out in all the main geographical areas.
Cboe Brexit Low 50
15,864.99
15:55 22/11/24
Cboe Europe All Companies
51.77
11:45 01/12/20
Cboe Europe Non-Energy Materials Sector
17,155.53
11:45 01/12/20
Cboe UK 100
830.95
15:55 22/11/24
Cboe UK 100 NTR
918.46
15:55 22/11/24
Cboe UK 350
14,662.36
15:55 22/11/24
Cboe UK 350 NTR
24,149.16
15:55 22/11/24
Cboe UK All Companies
14,542.55
15:55 22/11/24
Cboe UK All Companies NTR
24,645.01
15:55 22/11/24
Cboe UK Non-Energy Materials Sector
10,907.21
15:55 22/11/24
Cboe UK Non-Energy Materials Sector NTR
18,824.90
15:55 22/11/24
DS Smith Plc
596.50p
15:55 22/11/24
In the UK, IHS Markit's services Purchasing Managers' Index is expected to be confirmed at a reading of 49.7 for February.
While consistent with an overall contraction in the sector, it would be far better than January's reading of 39.5.
Stateside however the Institute of Supply Management's services PMI is seen coming in at 58.7, which would be unchanged from January, and still firmly pointing to a solid pace of activity.
Across the Channel meanwhile, investors will also be keeping tabs on a spate of speeches from top European Central Bank officials, starting from 1300 GMT.
For DS Smith's trading update, UBS's Mikael Doepel anticipates that the international packaging firm will guide towards higher than expected volumes, although higher OCC prices were likely to be a drag.
Indeed, read across from rival Smurfit Kappa's fourth quarter update pointed to upside risks for DS Smith's latest quarter, with the analysts consensus having penciled-in earnings before interest, taxes and amortisation of £508m (consensus: £512m).
The supportive volumes environment in particular should also drive upwards estimates revisions from the current consensus estimate for DS Smith's full-year 2021/22 EBITA of €595m, the analyst said, whereas Doepel was at £622m.
Wednesday 3 March
FINALS
Avast, Getbusy, Persimmon, Polymetal International, Pagegroup, Vivo Energy, Nichols, Allergy Therapeutics
TRADING ANNOUNCEMENTS
Biffa
AGMs
Gunsynd, Schroder European Real Estate Investment Trust
UK ECONOMIC ANNOUNCEMENTS
BRC Shop Price Index (00:01)
PMI Services (09:30)
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
PMI Services (GER) (08:55)
PMI Composite (GER) (08:55)
PMI Services (EU) (09:00)
PMI Composite (EU) (09:00)
Producer Price Index (EU) (10:00)
MBA Mortgage Applications (US) (12:00)
PMI Composite (US) (14:45)
PMI Services (US) (14:45)
ISM Services (US) (15:00)
ISM Prices Paid (US) (15:00)