Tuesday preview: Federal Reserve, Ferguson in focus

The focus on Tuesday will shift towards central bank policy, with at least three top officials from the Federal Reserve set to deliver remarks.

But global manufacturing sector conditions will continue to be on investors' minds, with key survey readings for September due out in the US, UK and in the Eurozone.

Also due out at home is Nationwide's September house price index.

Further afield, markets will be keeping an eye on South Korean export data - a good lead indicator for Chinese activity - and on the Reserve Bank of Australia's interest rate decision.

Economists at Barclays Research anticipate that official short-term interest rates Down Under will be cut by 25 basis points to 0.75%.

Further afield, negotiators from France, Germany, Ukraine and Russia are due to meet ahead of a possible leaders' summit.

Against that backdrop, the Golden week holidays are set get under way in the Peoples's Republic of China.

For Ferguson's full-year numbers, UBS's Gregor Kuglitsch says the markets' focus will be on the company's growth over the first quarter of the 2020 financial year and on any signs of a pick-up.

On the basis of weakening lead indicators for the sector, the analyst expects overall like-for-like growth to slow from 5.3% in 2019 to 2.4%.

There are also the tougher comparables to contend with.

An update on possible alternative listing options may also be provided, he said.

For 2019, Kuglitsch is expecting the plumbers' merchant to post a 5.3% increase in LFL sales with total revenues at $21.847bn alongside earnings before interest, taxes and amortisation of $1.582bn.

Tuesday October 01

INTERIM DIVIDEND PAYMENT DATE

Aggreko, General Accident (Prf), Property Franchise Group, Rathbone Brothers

QUARTERLY PAYMENT DATE

Blackrock North American Income Trust , BlackRock World Mining Trust, Total SA

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Auto Sales (US) (20:30)

Construction Spending (US) (15:00)

ISM Manufacturing (US) (15:00)

ISM Prices Paid (US) (15:00)

PMI Manufacturing (GER) (08:55)

PMI Manufacturing (EU) (08:55)

PMI Manufacturing (US) (14:45)

GMS

Mod Resources Limited NPV (DI)

FINALS

Ferguson, James Halstead, SCS Group

EGMS

Hardy Oil & Gas

AGMS

Qannas Investments Limited (DI)

TRADING ANNOUNCEMENTS

Greggs

UK ECONOMIC ANNOUNCEMENTS

PMI Manufacturing (09:30)

FINAL DIVIDEND PAYMENT DATE

Park Group, Robinson