Wednesday preview: Smiths Group CEO reports final full-year earnings

LONDON (ShareCast) - (ShareCast News) - Smiths Group (Other OTC: SMGKF - news) chief executive Philp Bowman will report his last set of annual results on Wednesday before stepping down after eight years at the FTSE 100 technology company. Bowman will on Friday hand over the reins to Andrew Reynolds Smith, who is leaving his role as chief executive of GKN (LSE: GKN.L - news) 's division GKN Automotive.

"On that basis there will be no major strategy-related commentary given the new CEO does not yet have his feet under the table," said UBS (NYSEArca: FBGX - news) analyst Mark Fielding.

"However, we do see downside risk to 2016 earnings forecasts given the John Crane Oil & Gas exposure. On a company reported basis UBS estimates 2016 earnings per share is close to 10% below consensus and we retain a 'sell' rating." The group's mechanical seals division John Crane has come under pressure from the slump in oil prices. John Crane accounts for 40% of group profit and a third of sales.

On the economic data front, purchasing managers' index reports on manufacturing will be released. Caixin's PMI on China manufacturing is expected to show a reading of 47.6 in September, up from 47.3 a month earlier but still below the 50 level that separates a contraction from expansion.

Markit (NasdaqGS: MRKT - news) 's Eurozone manufacturing PMI is forecast to slow to 52 in September from 52.3 in August.

US manufacturing PMI is expected to drop to 52.8 this month from 53 in August.

The US will also see the release of weekly mortgage application figures from the Mortgage Bankers' Association.

Wednesday 23 September INTERIMS EG Solutions (LSE: EGS.L - news) , Gresham House (LSE: GHE.L - news) , Highland Gold Mining Ltd (Other OTC: HGHGF - news) ., JQW (LSE: JQW.L - news) , NAHL Group (LSE: NAH.L - news) , Styles & Wood Group INTERNATIONAL ECONOMIC ANNOUNCEMENTS Crude Oil Inventories (US) (15:30) MBA Mortgage Applications (US) (12:00) FINALS Hansard Global (Other OTC: HNRDF - news) , Smiths Group AGMS Alcentra Euorpean Floating Rate Income Fund Ltd Red Ord Shs, Arricano Real Estate (LSE: ARO.L - news) (DI (KSE: 003160.KS - news) ), Avarae Global Coins (LSE: AVR.L - news) , Begbies Traynor Group, Best of the Best (LSE: BEST.L - news) , Diageo (LSE: DGE.L - news) , Eckoh (LSE: ECK.L - news) , First Property Group, Imaginatik (LSE: IMTK.L - news) , Real Good Food (LSE: RGD.L - news) , Scientific Digital Imaging (LSE: SDI.L - news) , Twentyfour Income Fund Limited Ord Red TRADING ANNOUNCEMENTS United Utilities Group UK ECONOMIC ANNOUNCEMENTS BBA Mortgage Lending Figures (09:30) FINAL DIVIDEND PAYMENT DATE Bloomsbury Publishing (LSE: BMY.L - news)