The FTSE 100 Index reached a record high of £9,192 this week as some of its top constituent companies, including IAG, Rolls-Royce, Shell, HSBC, and Standard Chartered, published their earnings.
The index will be in the spotlight next week as more companies release their earnings reports and the Bank of England (BoE) delivers its interest rate decision on Thursday. This article looks at some of the top FTSE 100 Index shares to watch next week.
BP
BP will be one of the top companies to watch next week as it publishes its financial results. These numbers are expected to be released a few days after Shell, the largest energy company in Europe, published mixed financial results.
Shell said that its cash flow from operations stood at over $12.3 billion in the last quarter, higher than the median estimate of $10.1 billion. It blamed the weak numbers to the lower oil prices during the quarter.
Therefore, there is a possibility that BP’s earnings will also be weak because they are in the same industry. These results come as the BP share price has been in an uptrend in the past few months, moving from a low of 324p in April to 405p today.
The company has also come under pressure because of its perennial underperformance. There have been talks about the company being acquired by a bigger rival, such as Shell.
Therefore, the upcoming earnings will provide the management an opportunity to share their ideas on how to unlock value.
Read more: Takeaway of Rolls-Royce earnings and impact on its share price
InterContinental Hotels (IHG)
InterContinental Hotels is another top FTSE 100 company to watch next week as it releases its numbers. IHG, the parent company of its eponymous brand and others like Regent, Crowne Plaza, and Holiday Inn, will publish its numbers as its stock remains 20% lower than its highest point this year.
IHG’s results will likely show the impact of the recent trade issues on global travel. Analysts are optimistic that its results will be stronger than expected, with expected earnings per share at 2.37p and revenue of £1.1 billion.
Legal and General (LGEN)
Legal and General, one of the biggest insurance and investment groups in the UK, has done well in the past few months. Its stock jumped by over 32% from the year-to-date low and is hovering near its all-time high.
The company has benefited from stable insurance and investment business. Recently, it established a $20 billion private credit partnership with Blackstone, the world’s largest private equity company.
The partnership will have its annuities business get access to US investment-grade assets through the Blackstone lending platform. L&G will invest up to 10% of the division’s money into it.
The other top FTSE 100 shares to watch next week will be Flutter Entertainment, the biggest sports betting company in the UK, Fresnillo, the giant silver mining company, and International Workplace Group.
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