The impact on housebuilders of the EU referendum vote was set to preoccupy investors on Wednesday.
Barratt Developments PLC (LON:BDEV) was due to issue a trading statement in which the builder was tipped to report strong demand in the second half.
Numis Securities said it expected Barratt to say it was in line with or ahead of consensus for the full year.
Numis analysts added in a note: “We think commentary about trading post-‘Brexit’ will be consistent with what we have heard elsewhere, ie. that it has been broadly in line with last year, although it is too early to tell the impact.
“Whilst we think Barratt is materially better-placed to withstand a downturn than it was in 2007, it still has one of the most leveraged balance sheets and less downside protection in its margins. On this basis we think there are better-placed housebuilders.”
Meanwhile, investors were hoping engineering group Fenner PLC (LON:FENR) would make some positive comments about the outlook for the oil and natural resources market when it reports third quarter trading.
Broker Peel Hunt said: “The rebound in US coal production in recent weeks provides some hope that the market has finally bottomed and the steady recovery in US rig count is encouraging.
“Our scenario analysis in this note suggests potential upgrades of 5% and 16% for FY2017 and FY2018, respectively, if the recent oil price momentum continues.”
Peel Hunt has a ‘buy’ recommendation and a 150p target price on Fenner, which specialises in manufacturing reinforced polymer products.
Other companies due to report on Wednesday included:
Trading statements: Burberry (LON:BRBY), ICAP PLC (LON:IAP), JD Wetherspoon PLC (LON:JDW).
Annual meetings: BT (LON:BT); E2V Technologies PLC (LON:E2V), RPC Group PLC (LON:RPC)