Tuesday preview: Central bank speeches, CRH in the spotlight

updated: 25 November 2019 at 3:25pm Author: Alexander Bueso

(Sharecast News) - The ongoing US-China trade talks permitting, the market spotlight on Tuesday is expected to shift back towards the world's main central banks.


In particular, there is keen interest in a speech from Federal Reserve chairman, Jerome Powell, scheduled for overnight.

He will be followed first thing on Tuesday morning by European Central Bank vice-president, Luis de Guindos, and the monetary authority's chief economist, Philip Lane, at 0815 GMT and 0830 GMT, respectively.

Against that backdrop, a raft of figures on America's housing sector are also scheduled for release, including a report on new home sales for October at 1500 GMT.

Also due out are figures on the US foreign trade balance in goods for October, at 1330 GMT.

Housing statistics will also be under close scrutiny in the UK, with mortgage approval figures for October due out at 0930 GMT.



Stock of US-focused building materials supplier CRH will be in the market spotlight on Tuesday.

UBS's Gregor Kuglitsch has penciled nine-month earnings before interest, taxes, depreciation and amortisation of roughly €3.1bn, on the back of approximately 6.0% growth in the firm's like-for-likes or 7.0% for the three months to September.

LFL growth in Americas Materials is seen ahead by 9.0%, versus just 2.0% for Europe.

CRH's is seen guiding towards full-year EBITA of €4.1bn, a tad below the €4.16bn that Kuglitsch has penciled-in.

The analysts said that his EBITA estimate included the impact of IFRS 16 and the recent sale of the company's European Distribution business.

EBITDA margins meanwhile were called to increase by 25 basis points versus a year ago, which the analyst said "should be the first visible signs of the +300bps margin improvement target (to 2021)."

Net debt guidance for €7.0bn was expected to be unchanged.

And it was possible that CRH management could announce an additional tranche of share buybacks.

Tuesday November 26

INTERIMS

Augmentum Fintech, Cranswick, Draper Esprit, GB Group, IG Design Group, IMImobile , LXI Reit , Schroder Real Estate Investment Trust Ltd, Victoria

INTERIM DIVIDEND PAYMENT DATE

Invesco Asia Trust

QUARTERLY PAYMENT DATE

Tetragon Financial Group Limited

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Consumer Confidence (US) (15:00)

GFK Consumer Confidence (GER) (07:00)

House Price Index (US) (14:00)

New Homes Sales (US) (15:00)

FINALS

Compass Group, Paragon Banking Group, Ten Lifestyle Group , Treatt, UDG Healthcare Public Limited Company

AGMS

Bluefield Solar Income Fund Limited, Clinigen Group, Revolution Bars Group, Scotgold Resources (DI)

TRADING ANNOUNCEMENTS

Intertek Group

FINAL DIVIDEND PAYMENT DATE

Close Brothers Group, Ideagen