Source: Sharecast
In the US, quarterly results from Carnival Corp and FedEx will be released.
Derren Nathan, head of equity research at Hargreaves Lansdown, said that after a strong start to the year, Carnival’s expecting to see further momentum.
"Guidance points to capacity growth of 1.9% and a 2.0% increase in net yields (a measure of price), before currency movements. However, averages cruise costs are also rising (guidance 2.6%), and that’s before expected fuel price increases," he said.
"Net-net, Carnival sees a small fall in second-quarter underlying cash profit (EBITDA) to $1.5bn. Since the period end, progress towards a peace deal in the Persian Gulf has helped to drive down oil prices and boost investor sentiment towards Carnival.
"Management struck a cautious tone in March, cutting full-year underlying cash profit guidance from $7.6bn to $7.2bn. But Carnival earns most of its money in the second half, and with some of the key risks starting to fade, hopes of an upgrade could be building."
As far as Bunzl is concerned, Richard Hunter, head of markets at Interactive Investor, said the full-year results in March steadied the ship somewhat.
"A savage share price reaction to the profit warning last year left a sour taste in the mouth for investors," he said. "A subsequent trading statement and then half-year numbers in August stemmed further declines, and a relief rally has seen the shares rise by 23% in the year so far."
Hunter said that for the most part, Bunzl remains a well-run if not currently well-regarded stock.
"The dividend has seen 18 consecutive years of increases and the current yield of 2.9% is of some appeal," he noted. "Although Bunzl may look undemanding on a historic valuation basis, investors are treading carefully until such time as a sustained recovery is in evidence."
Market participants will also be eyeing the release of the flash UK S&P Global PMI for June at 0930 BST.