Petrofac Share News (PFC)

(Sharecast News) - The focus on Wednesday - barring surprises on the US-China trade front - will be on Italy, where the Five Start and Democratic parties are trying, despite the differences in their political programmes, to piece together a coalition government that would allow the country to avoid new elections.


President Sergio Mattarella is due to meet with the leaders of those two parties on Wednesday evening to see if such a possibility exists.

If not, then it will be back to ballot box for Italians, most likely towards the end of October.

Against that backdrop, traders will also be keeping a nervous watch on the latest headlines around US-China trade, especially any signs of a further escalation.

No major economic releases are scheduled in the UK.

A reading on German consumer confidence in September is due out before the market open and may bare close watching given the important of domestic demand in sustaining that country's economic expansion.

Stateside meanwhile, Richmond Fed chief Thomas Barkin and his opposite number at the San Francisco Fed, Mary Daly, are due to deliver speeches after the close of markets in London.



Among the corporates which are set to update global financial markets on Wednesday are Petrofac.

In a June trading update, the oilfield services outfit reiterated guidance for full-year sales of approximately $4.5bn and for net margins to come in at the low end of a range for 6.5-7.5%.

And UBS's Amy Wong saw net debt coming in at roughly $1.0bn but above all, in a research note sent to clients the analyst highlighted how the company was tendering for roughly $15.0bn-worth of bid opportunities which were due to be awarded in the back half of 2019.

Wednesday August 28

INTERIMS

Arix Bioscience , Headlam Group, Petrofac

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Blackrock Throgmorton Trust, Jupiter Fund Management

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Crude Oil Inventories (US) (15:30)

M3 Money Supply (EU) (09:00)

MBA Mortgage Applications (US) (12:00)

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Collagen Solutions, Gordon Dadds Group , Oryx International Growth Fund Ltd., Puma VCT 10 , Puma VCT 12 , The Fulham Shore, TheWorks.Co.Uk

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Diploma

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BRC Shop Price Index (00:01)

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Blue Planet Investment Trust