Russian gold producer Polymetal releases its first-half results on Wednesday following a strong second-quarter report.
Production in the second quarter topped estimates, with higher grades and throughput at the Dukat and Omolon sites.
"We think this should allow Polymetal to report an 18% year-on-year improvement in total cash costs to $645/ounce in first half/2014 estimate," Canaccord Genuity said, giving the company a 'hold' rating. "We also believe costs will be assisted by a weaker average ruble exchange rate
that depreciated 13% year-on-year in first half/2014.
"On the negative side, we expect a non-cash foreign exchange
loss of $25m to be recognised due to revaluation of the US$ denominated debt (as POLY retranslates accounts in roubles back to US$ for reporting purposes)."
The report comes amid geopolitical tensions between Russia, the Ukraine and the West. Russia has been hit by sanctions from the US and Europe.
Investors are likely to be watching for mention of any impact from such events.
Wednesday 27 August
888 Holdings, Cape, Chime Communications, Churchill China, Evraz, Foxtons Group , Grafton Group Units, Hansteen Holdings, Industrial Mlulti Propety Trust , John Laing Infrastructure Fund Ltd, London Capital Group Holdings, OneSavings Bank, Polymetal International
INTERIM EX-DIVIDEND DATE
Acencia Debt Strategies Ltd., African Barrick Gold , Capita, CRH, Croda International, Devro, Friends Life Group Limited , Glanbia, Henderson Group, Hikma Pharmaceuticals, Lancashire Holdings Limited, Legal & General Group, Low & Bonar, LPA Group, Merlin Entertainments , Mincon Group , Rights & Issues Inv Trust Income Shares, Robinson, Rotork, SEGRO, St James's Place, Tullow Oil, Ultra Electronics Holdings, Wood Group (John)
QUARTERLY EX-DIVIDEND DATE
Canaccord Genuity Group Inc., Canadian General Investments Ltd., Duet Real Estate Finance Ltd, Energy XXI (Bermuda) (DI), Premier Energy & Water Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Crude Oil Inventories (US) (15:30)
GFK Consumer Confidence (GER) (07:00)
MBA Mortgage Applications (US) (12:00)
SPECIAL EX-DIVIDEND PAYMENT DATE
Elderstreet VCT, Hikma Pharmaceuticals, Premier Energy & Water Trust
Datang International Power Generation Co Ltd.
Collagen Solutions, Coral Products, Indian Hotels Company Ltd. GDR (Reg S), Iomart Group, Iona Environmental VCT, Iona Environmental VCT 'A' Shares, Iona Environmental Vct 'B' Shares, Maven Income And Growth VCT 6 , New Century AIM VCT, Oxford Technology 2 VCT, Oxford Technology 3 VCT, Oxford Technology 4 Venture Capital Trust, Oxford Technology VCT, Prospect Japan Fund Ltd.
FINAL EX-DIVIDEND DATE
Bloomsbury Publishing, Carclo, Cohort, Downing One VCT , Falkland Islands Holdings, Fletcher King, NCC Group, Park Group, red24, Stagecoach Group