It is a jam packed day on Wednesday with mining giant Glencore Xstrata set to dominate proceedings with its first trading update since the merger.
According to newspaper reports, the company is set to write-down up to US$7.6bn of assets, primarily from the Xstrata acquisition.
Investec is expecting pro-forma half-year underlying - i.e. before the write-downs - earnings (EBITDA) of US$6.0bn.
S P Angel, meanwhile, says Glencore's commodity trading arm should insulate the group from lower commodity prices in the mining division, where "solid production numbers" should also serve to offset lower prices.
The broker forecasts EBITDA of US$5.9bn, and expects projected merger synergies to rise to US$1bn from initial estimates of half that amount. However, it predicts the group will grit its teeth and make write-downs of US$5 - 10bn on its nickel, zinc and coal assets.
"Nickel is likely to see the largest write-downs with Koniambo nickel mine in New Caledonia expected to write down some US$5bn of value," the broker predicts.
The Kazzinc assets in Kazakhstan might also see some impairment, the broker continues, while it expects to see further potential write-downs on debt applied to Glencore's Australian assets.
Oilfield services group Wood Group is likely to report strong profits growth in the first half of 2013, according to Investec.
The broker predicts the top line will rise 6% year-on-year to US$3.5bn while underlying earnings (EBITA) are tipped to rise 18% to US245mln.
"We do not expect any change in guidance for FY13 - 15% EBITA growth in engineering; which remains the jewel in the crown and continued improvement in PSN (although margins still ½ that of engineering). However, we be looking for steps to improve revenue and margins in GTS, new awards in Power Solutions, and perhaps an explanation of the acquisition of the low margin Pyeroy business and how this fits into group strategy," Investec said.
JP Morgan goes for half-year group revenue of US$3,515mln, up 5% year-on-year, and EBITA of US$258mln for Wood Group.
"We do not expect any material deviation from the outlook and guidance provided in the June trading update. We note strong order announcement/renewals YTD as well as the small bolt-on acquisition of Pyeroy Group," JP Morgan said.
Peel Hunt is neutral on house builder Persimmon, and expects Tuesday's results to carry few surprises. Peel Hunt sees profit before tax rising to £135mln from £98mln a year ago.
"The capital return programme means the group is focused on slightly different targets from its peers, as it is optimising cash returns and against future profitability," Peel Hunt notes.
Significant announcements expected
Companies: Interims: Cairn Energy (LON:CNE), CRH (LON:CRH), James Fisher And Sons (LON:FSJ), Glencore Xstrata (LON:GLEN), H&T Group (LON:HAT), Menzies (John) (LON:MNZS), NMC Health (LON:NMC), Persimmon (LON:PSN), TT Electronics (LON:TTG), John Wood Group (LON:WG.).
Macroeconomic: EU: German PPI