Lloyds Banking Group PLC (LSE:LLOY) shares have stumbled in the run-up to its annual results, dragged down by the 6%-7% falls for Barclays and NatWest the week before.
The rivals’ numbers were mixed however, with Barclays UK business doing well, and NatWest brought down by its cautious outlook, so it remains to be seen whether the read-across was correct.
That same outlook may be repeated for Lloyds, though it has been projected by many to be among those unleashing the most jumbo-sized shareholder returns.
Over in the mining sector, results from Rio Tinto PLC (LSE:RIO) and Hochschild Mining PLC (LSE:HOC, OTCQX:HCHDF) continue another of the week’s themes, a day after copper-focused Antofagasta.
Rio’s production update last month matched its full year guidance, though Pilbara iron ore shipments were a bit short.
For the year ahead it upped copper guidance to further expand its focus on the red metal.
Over in New York, Nvidia Corp (NASDAQ:NVDA) numbers will be in focus, especially for those who have tipped them for their pick of the year.
Having hit two-year lows back in October, the shares are up 48% this year and have retraced half of the decline from the record highs from November 2021, though coming off in recent days as concerns over the economic outlook increase.
Last summer Nvidia warned on its margins as well as cutting its revenue outlook, amid a slowdown in gaming revenue, before the third quarter saw revenues lower but demand for its data centre chips improving to offset slowing demand for gaming chips, but profits slightly below expectations.
"Since the start of this year Microsoft indicated that demand for gaming had remained lower, which is likely to be reflected in Nvidia’s revenue on the gaming side. Demand for higher specification AI chips could well offer some hope here with Nvidia a key supplier in this area," said CMC's Michael Hewson.
Earnings per share are expected to come in at US$0.81.
In macroeconomic news, minutes from the last US Federal Reserve meeting will be the main story with this and several Fed speakers during the week potentially revealing that the central bank was not far from hiking rates by 50bp rather than 25bp in February.
Significant announcements
Finals: Conduit Holdings Limited, Hochschild Mining PLC (LSE:HOC, OTCQX:HCHDF), Lloyds Banking Group PLC (LSE:LLOY), Primary Health Properties PLC (LSE:PHP, OTC:PHPRF), Rio Tinto PLC (LSE:RIO), Synetics PLC, TBC Bank (LSE:TBCG) Group Plc, The Renewables Infrastructure Group Limited (LSE:TRIG)
Interims: Avingtrans PLC (AIM:AVG), Transense Technologies (AIM:TRT) PLC
AGMs: Barkby Group PLC, Gooch & Housego PLC (AIM:GHH), Inspirit Energy Holdings PLC (LSE:INSP), RWS Holdings (AIM:RWS) PLC, Tharisa PLC (LSE:THS, JSE:THA, OTC:TIHRF)
Economic announcements: Fed minutes (US), MBA Mortgage Applications (US), Crude Oil Inventories (US)
US earnings: Fiverr International, Etsy (NASDAQ:ETSY), Lucid Group, NVIDIA, Teladoc (NYSE:TDOC) Health, Unity Software, Virgin Galactic