There will be plenty for investors to get their teeth into on Thursday with big broadcaster ITV PLC (LON:ITV) and well followed oiler Cairn Energy PLC (LON:CNE) issuing trading statements.
In 2015 results, ITV said major sporting events, such as the European football championship, were likely to give it a rollercoaster ride in 2016, as it hailed its sixth year in a row of double-digit profit rises.
The group posted an 18% rise in adjusted underlying pre-tax earnings to £865mln on a 15% gain in revenue to about £3bn in the year to December 31.
Net advertising revenue rose 6% to £1.7bn, online, pay and interactive revenue increased 23% to £188mln and total ITV Studios income lifted 33% to £1.2bn.
Broker Numis, ahead of tomorrow's update, said it currently forecasts NAR (National Advertising Revenue) growth of over 4% for 2016 and sees modest downside risk to this estimate, though much will depend on England s performance in the Euros and how advertising is phased into the second half following the resolution of Brexit uncertainty.
The broker's EPS forecast of 18p a share for 2016 compares to consensus of 17.8p.
Current problems in the oil sector are well documented, but Cairn Energy PLC'S share price has benefitted from good well results, offshore Senegal, and a recovery in oil prices, says Numis, and traders will no doubt be looking for momentum in the story tomorrow.
The broker notes that the FTSE250 group, with a strong balance sheet, is less exposed to oil price volatility than some of its peers.
"We do have concerns that activity levels could drop off in H2 16 and the story could go a little at following completion of the appraisal drilling program offshore Senegal (although the partnership retains two well options it could utilise on the current rig contract)," it said.
"Overall we expect the IMS to confirm the North Sea development projects remain on track (Kraken and Catcher first oil 2017) and we think it will be too early for results from the current appraisal well offshore Senegal."
Other announcements expected
Finals: JZ Capital Partners Ltd (LON:JZCP), Talktalk Telecom Group PLC (LON:TALK), Vedanta Resources PLC (LON:VED)
Interims: Coca-Cola HBC (LON:CCH), Vedanta Resources PLC (LON:VED)
Trading statements: Cairn Energy PLC (LON:CNE), ITV PLC (LON:ITV), Mondi Plc (LON:MNDI), Old Mutual Group PLC (LON:OML), The Rank Group PLC (LON:RNK), Vesuvius (LON:VSVS).