Financial markets’ focus in the middle of the week will shift to global services with a raft of surveys covering the sector’s health due out from around the world.
First out overnight will be a survey from Chinese consultancy Caixin, followed by services sector Purchasing Managers’ Index in the UK (consensus: 57.8), euro area (consensus: 60.4) and US (consensus: 60.4).
Also due out was consultancy ADP’s private sector payrolls report for July in the US, at 1315 BST.
A speech from Federal Reserve vice-president, Richard Clarida, at 1500 BST will also be closely followed by investors.
Ahead of Taylor Wimpey‘s first half, UBS analyst Gregor Kuglitsch said expectations appeared to be “relatively low” so that the residential developer’s medium-term targets should be “sufficient” to elicit a positive reaction.
The analyst had penciled-in revenues of £1.97bn and profit before tax of £354m.
Current guidance from the company was for volumes to reach 85-90.0% of their 2019 levels in 2021 and for margins of 18.5-19.0%.
He meanwhile was at 87.0% and 18.9%, respectively.
“Key will be if recent supply chain disruptions and inflation had any impact on this guidance.”
Wednesday 4 August
Ferrexpo, Hiscox Limited (DI), Legal & General Group, Morgan Sindall Group, Taylor Wimpey