Wood Group (John) Plc (GBp 507.5 ; -9.21% ; WG/ ; WG.L)
On Tuesday, Wood Group (John) Plc, an international energy service company, is expected to deliver 1H pre-tax profit of $154M compared with $123M a year earlier on revenues of around $2.8B vs $2.4B. Last week, the Co was downgraded to "neutral" from "overweight" at JPMorgan. From a technical view, the stock remains under pressure below its falling 20-day moving average. Below 580p, look for a further pullback to 455p at first.
Accor (EUR 23.11 ; -9.34% ; AC ; ACCP.PA)
On Wednesday, Accor may announce 1H net income of E81M compared to a loss of E15M a year ago on sales of around E3B vs E2.85B. Early this month, the Co signed a contract to sell caterer Lenotre to Sodexo and expected to complete the sale by the end of September. Technically, the stock is pulling back to its key support level at E22. A technical rebound is therefore expected to E25.5 in sight before any further downsides.
Heineken (EUR 36.065 ; -3.7% ; HEIA ; HEIN.AS)
The same day, Heineken, the European beverages producer and distributor, is expected to release 1H net income of around E737M compared with E695M a year ago on revenues of E8.3B vs E7.5B. Recently, the Co completed the acquisitions of the Bedele and Harar breweries from the government of the Federal Democratic Republic of Ethiopia for US$85M and US$78M, respectively. Graphically, the stock broke below a MT rising trend line, and should post further decline towards E34, as long as E38 is resistance.
BHP Billiton (GBp 1860 ; -7.83% ; BLT ; BIL.J)
Wednesday, BHP Billiton, the international mining giant, could post FY pre-tax profit of $31.8B compared with appx. $20B last year. Earlier, the Co agreed with Leighton Holdings to buy the HWE Mining subsidiaries that provide contract mining services to its Western Australia Iron Ore operations for $735M. Recently, the Co closed the tender offer to acquire all outstanding shares of of Petrohawk Energy at US$38.75 per share. From a chartist view, the stock reached its support base around 1800p, and should post some technical rebounds to 2000p ahead of new weakness.
Crédit Agricole (EUR 6.122 ; -6.09% ; ACA ; CAGR.PA)
On Thursday, Crédit Agricole, the French bank, may report 2Q net income of E84M compared to E379M a year ago. Last week, the bank was downgraded to "sell" from "hold" at Standard & Poor's. Recently, the bank planned to close its office in Bahrain and move its staff to Dubai. From a technical point of view, the share price remains negatively oriented, being capped by its bearish 20-day moving average. The stock should test its support at E6.00 in sight, if breakout, expect a new down move towards E5.50.
Selection of those events which may affect the stock prices of international Large Caps