Amid the next huge batch of corporate updates, attention Wednesday will turn towards the conclusion of the Federal Reserve's latest interest rate-setting meeting.
When US inflation recently jumped to 9.1% or the biggest year-on-year increase since November 1981, some economists suggested it might prompt the Fed to raise US interest rates by a full 1% at the meeting, instead of the 0.75% expected.
Comments since then by Fed members have eased some of the concerns, with 0.75% now pencilled in by most forecasters though some say watch the quantitative tightening plan, which is already having a big impact on US tech stocks for example which have seen huge swings in prices recently.
Lloyds Bank and GlaxoSmithKline lead the queue of company updates tomorrow, which also includes Reckitt Benckiser, British American Tobacco, and Rio Tinto.
Second quarter net profits from Lloyds should be around £1.4bn, suggest analysts at Credit Suisse, which is slightly above consensus estimates elsewhere with an interim dividend of 0.83p (read more).
GlaxoSmithKline, now shorn of consumer arm Haleon, has promised revenue growth of 5% to 7% this year, leading to a 12% to 14% increase in operating profits.
Any early signs of underperformance against those targets will be punished harshly (read more).
Wednesday 27 July
Finals: Hargreaves Services Plc (AIM:HSP, OTC:HGRVF) (Hargreaves Services Plc (AIM:HSP, OTC:HGRVF), Hargreaves Services Plc (AIM:HSP, OTC:HGRVF)), Yourgene Health PLC
Interims: Breedon Group Plc (AIM:BREE) (Breedon Group Plc (AIM:BREE)), Conduit Holdings Limited, Ibstock PLC (LSE:IBST) (Ibstock PLC (LSE:IBST)), Lancashire Holdings, Lloyds Banking Group PLC (LSE:LLOY) (Lloyds Banking Group PLC (LSE:LLOY)), GSK PLC (LSE:GSK, NYSE:GSK) (GSK PLC (LSE:GSK, NYSE:GSK), GSK PLC (LSE:GSK, NYSE:GSK)), MusicMagpie PLC, Nichols PLC (AIM:NICL) (Nichols PLC (AIM:NICL)), Primary Health Properties PLC (LSE:PHP, OTC:PHPRF) (Primary Health Properties PLC (LSE:PHP, OTC:PHPRF), Primary Health Properties PLC (LSE:PHP, OTC:PHPRF)), Quartix Technologies PLC, Reckitt Benckiser Group PLC (LSE:RKT, ETR:3RB) (Reckitt Benckiser Group PLC (LSE:RKT, ETR:3RB), Reckitt Benckiser Group PLC (LSE:RKT, ETR:3RB)), Rio Tinto PLC (LSE:RIO) (Rio Tinto PLC (LSE:RIO)), Smurfit Kappa Group plc (LSE:SKG) (Smurfit Kappa Group plc (LSE:SKG)), Unite Group PLC (LSE:UTG) (Unite Group PLC (LSE:UTG)), British American Tobacco PLC (LSE:BATS) (British American Tobacco PLC (LSE:BATS)), Paragon Banking PLC, Provident Financial (LSE:PFG) (Provident Financial (LSE:PFG)) PLC, Smurfit Kappa PLC
Trading announcements: Fresnillo PLC (LSE:FRES) (Fresnillo PLC (LSE:FRES))
AGMs: Allied Minds (LSE:ALM) (Allied Minds (LSE:ALM)) PLC, Aquila Services Group PLC, Caledonia Investments (LSE:CLDN) (Caledonia Investments (LSE:CLDN)) PLC, Cropper (James) PLC, De La Rue PLC (LSE:DLAR) (De La Rue PLC (LSE:DLAR)), JPMorgan Japan Small Cap Growth & Income Trust, Mode Global Holdings PLC (LSE:MODE, OTCQB:MODGF) (Mode Global Holdings PLC (LSE:MODE, OTCQB:MODGF), Mode Global Holdings PLC (LSE:MODE, OTCQB:MODGF)), Montanaro UK Smaller Cos Investment Trust PLC, Motorpoint PLC, Peel Hunt Ltd (AIM:PEEL) (Peel Hunt Ltd (AIM:PEEL)), Shield Therapeutics PLC (AIM:STX, OTCQX:SHIEF) (Shield Therapeutics PLC (AIM:STX, OTCQX:SHIEF), Shield Therapeutics PLC (AIM:STX, OTCQX:SHIEF)), Tatton Asset Management PLC (AIM:TAM) (Tatton Asset Management PLC (AIM:TAM))
Economic updates: MBA Mortgage Applications (US), Durable Goods Orders (US), Pending Homes Sales (US), Crude Oil Inventories (US), BRC Shop Price Index (UK)