Source: Sharecast
As far as Weir is concerned, UBS expects a beat on consensus margins in H2 25.
"Overall, we think the 20% margin guidance for the full year looks conservative when we dig into the implicit assumptions in the implied H2 margin bridge," the bank said. "Furthermore, we lifted our OE order estimates ahead of results as we expect incremental material orders in Q4."
UBS noted that peers Metso and FLSmidth have both received large orders in Q4, "while we haven't heard anything from Weir so far".
"We also note that two of the large orders disclosed by FLSmidth and Metso do not include any mention of pumps within the order suggesting potential upside in this space.
"One of the potential scenarios could involve Weir winning the pump part of these orders."
In its base case, the bank factors these potential orders (£15m each) and lifts its H2 OE order estimate by £30m, now forecasting 4% organic growth in the second half, versus consensus at -3%.
Elsewhere, Beazley’s results may be of particular note after the insurer agreed on Monday to be taken over by Zurich Insurance in an £8.1bn deal.
Beazley announced in February that it would be minded to recommend the proposal if a firm bid was made. Under the terms of the deal, Beazley shareholders will receive 1,310p per share in cash and a 25p dividend in relation to the year ended 31 December 2025.
The price represents a 59.8% premium to the closing Beazley share price on 16 January, which was the last business day before the offer period.
In Europe, Adidas, Dassault Aviation and Continental are among the companies slated to report.
In US, results from Broadcom, Brown-Forman, American Eagle and Abercrombie will be eyed.
On the macro front, UK and eurozone PMIs for February will be among the highlights, along with the eurozone unemployment rate for January.
Wednesday March 04
INTERIMS
Galliford Try
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Crude Oil Inventories (US) (15:30)
Factory Orders (US) (15:00)
ISM Prices Paid (US) (15:00)
ISM Services (US) (15:00)
MBA Mortgage Applications (US) (12:00)
PMI Composite (EU) (09:00)
PMI Composite (GER) (08:55)
PMI Composite (US) (14:45)
PMI Services (EU) (09:00)
PMI Services (GER) (08:55)
PMI Services (US) (14:45)
Producer Price Index (EU) (09:00)
Unemployment Rate (EU) (10:00)
FINALS
Beazley, Cairn Homes (CDI), Metro Bank Holdings , Netcall, Quilter, SIG, Vistry Group , Weir Group
ANNUAL REPORT
Haydale
AGMS
Baillie Gifford US Growth Trust, GS Chain, GS Chain, Paragon Banking Group, Residential Secure Income
UK ECONOMIC ANNOUNCEMENTS
PMI Composite (09:30)
PMI Services (09:30)
FINAL DIVIDEND PAYMENT DATE
Victorian Plumbing Group
