As crude prices flirt with a move below US$60, investors will quite understandably open Petrofac’s trading update on Tuesday.
The sharp and volatile collapse in oil prices has many in the associated engineering and services sector braced for spending cuts across the sector.
Petrofac investors will be keen to get a steer on the group’s outlook for oil and the security of its order-book should ‘big oil’ slash budgets.
Coming after the award of a number of UK rail contracts and after its peers warned over bus business, attentions will also focus on National Express’s (LON:NEX) update.
Elsewhere licensing will be the key for investors thumbing through Imagination Tech’s (LON:IMG) first half results, according to JP Morgan.
“Although IMG’s 1H results are unlikely to show positive momentum in royalty revenue, investors will likely be looking at licensing to see that a business that showed growth in 2H14, continues to do so,” said analyst Sandeep Deshpande.
Tuesday:
Interims: Imagination Technologies (LON:IMG), Polo Resources (LON:POL)
Finals: Domino Printing Sciences (LON:DNO), Berkeley Mineral Resources (LON:BMR)
Trading statements: Petrofac (LON:PFC) National Express Group (LON:NEX)
Economic announcements: EU Manufacturing PMI, EU Services PMI.