LafargeHolcim is due to report 3Q15 earnings on Wednesday, Analysts at Davy Stockbrokers said weak 3Q from the building materials giant will not surprise an already cautious market as many of the company’s key end-markets have deteriorated further with little expected in terms of recovery.

"Weaker demand and overcapacity are intensifying price pressure at a difficult time for the group. Merging the world's two largest cement producers was never going to be easy, and macro headwinds make the process even more complex," analyst Robert Gardiner said. In addition, the loss of a well-respected and capable CFO would not help, according to Mr Gardiner.

"We have materially downgraded our forecasts following publication of the pro-forma results for 2014 and 1H 2015. We have also lowered price and volume assumptions for 2016."