Builder confident as shares bounce back.

VOLATILITY in the markets is likely to divert attention from company results this week, but the performance of housebuilder Persimmon could still have a role to play in guiding sentiment.

York-based company Persimmon posts interim results tomorrow.

Forecasts put half-year pre-tax profits at pounds 276m - only 2% higher than last year - on sales of pounds 1.5bn, as five interest rate hikes take their toll on the housing market.

But in its most recent trading update, the company said the market had "continued to be resilient" against rising interest rates, and Persimmon's shares recovered from year lows to gain more than 10% in recent weeks.

Hygiene-to-pest control business Rentokil Initial is expected to report lower half-year profits on Thursday, but analysts say the rate of decline has slowed after management showed signs of tackling the company's recent troubles.

Evolution Securities is looking for pre-tax profits of pounds 80m, compared with pounds 103m seen a year earlier.

Glasgow-based engineering firm Weir Group posts half-year results tomorrow.

High-growth oil, gas and mining markets should account for around three-quarters of sales this year and Weir increased its presence in the sector with the acquisition of Texas-based SPM Flow Control for pounds 328m two months ago. Analysts predict a 20% rise in full-year operating profits to pounds 105m.

Other companies reporting results this week include:

Tuesday: Interims: Brixton

Wednesday: Interims: Gibbs & Dandy, IQE 

Thursday: Interims: Ge-netix, Neteller

Friday: Interims: Henderson AGM: Stagecoach