Thursday offers a chance to compare CRH and Grafton, two Ireland-based FTSE 350 groups focused on supplying construction companies, where their respective shares are down 22% and 42% since the start of the year respectively.
Builders' merchant Grafton Group PLC (ISE:GFTU) last reported in July, when it said that growth was slowing but that its full-year profit expectations were unchanged, with boss Gavin Slark also revealed to be stepping down after 11 years in charge.
Like-for-like sales fell 2% in the second quarter compared to the 10% growth in the first, with the UK going into reverse, while Irish merchanting slowed sharply and Irish retailing remained strong.
The interims results are likely to give some "more colour" on trends within each business unit, while also shedding some light on more recent trading activity, said Peel Hunt.
"In this respect, we expect to hear a similar refrain to that from the rest of the sector, with a continued slowing of DIY demand and a more robust trade outlook."
Other key items will be any update on the next CEO and the capital allocation policy, the broker added, given the strength of the balance sheet.
CRH PLC (LSE:CRH), which is a member of the FTSE 100 and is more focused on the US construction industry, has been a favourite among many investors during the pandemic, climbing on the back of expectations that bumper profits could be gleaned from President Biden's infrastructure push.
The Dublin-based group issued a positive trading update in April, saying that sales, cash profits and margins for the first half were all expected to be ahead of the prior year.
However, with recession worries bubbling, analysts expect Thursday's half-year results to see management guide to a slower second half.
Doorsteps, treading water and exercise bikes
Elsewhere, Morses Club PLC (AIM:MCL) is set to report full-year results that come a fortnight after the doorstep lender paused redress payments and said it was close to finalising a potential scheme to limit the impact of compensation payments to customers who have won misselling claims.
With fewer competitors on the market and increasing consumer demands for quick cash from embattled households, there are suggestions the group could face a more favourable medium- to long-term future.
Results from energy services provider Hunting PLC (LSE:HTG) come after those from sector peer Wood Group earlier in the week.
However, Hunting shares have been treading water for years and it’s hard to see that changing with these interim numbers, as a bullish trading update in July seemed to be barely noticed.
Later in the day, the attention of macro-minded investors will turn to US GDP figures and the start of the Jackson Hole symposium of central bankers.
“Given the light calendar, it’s a good week to take some time off and perhaps go fishing, for those of you who enjoy that sport,” suggested Marshall Gittler at BDSwiss. “One person who did was the redoubtable Paul Volcker, the 2.01 meter (6’7”) Fed chair from 1979 to 1987.
“The Kansas City Fed started holding an annual symposium in 1978. In 1982 they wanted Mr Volcker to attend so they moved the symposium to Jackson Hole, Wyoming, so that he could go fishing there. It’s been held there ever since.”
The three-day symposium brings together the great and the good in central banking and academic economics and, as Gittler adds, is “often – but not always – the site of some big announcement or hint to the market”.
After the closing bell in New York there will be earnings from Peloton Interactive, where a recent memo revealed 800 jobs are to be shed in conjunction with the closure of warehouses and retail stores across North America as the static-bike company looks for new paths to regain some of its IPO pazzazz.
Significant announcements on Thursday
Trading update: Benchmark Holdings PLC (AIM:BMK)
Finals: Hays PLC, Morses Club PLC
Interims: Anglo Pacific Group PLC (LSE:APF, TSX:APY, OTC:AGPIF), Benchmark Holdings PLC, CRH, Faron Pharmaceuticals Oy, Grafton Group PLC, Harbour Energy PLC, Hunting PLC (LSE:HTG), MacFarlane Group PLC, PureTech Health
AGMs: Nuformix PLC, Triple Point Energy Efficiency Infra Company PLC
Ex-divs to reduce the FTSE 100 by 6.61 points: Auto Trader Group, Land Securities Group, Diageo, St. James's Place , Natwest Group, Mondi , Phoenix Group Holdings
Economic announcements: Automobile production (UK), Continuing Claims (US), GDP Preliminary (US), Initial Jobless Claims (US)
US and China earnings: Coty, Dollar Tree, Dollar General, Peloton, Pinduoduo, VMware, Workday