The FTSE 100 and FTSE 250 indices remained in a narrow range this week as some large companies like Shell and Unilever published their earnings, and after the Bank of England delivered its interest rate decision. This article looks at some of the top stocks to watch next week, including BP, AstraZeneca, Coca-Cola, Barclays, NatWest, BAT, Unilever, and Barratt Redrow.
BP share price in focus ahead of earnings
BP PLC, a top energy giant, will be one of the top FTSE 100 Index stocks to watch next week as the company publishes its financial results.
These results come as its stock has rebounded in the past few months moving from a low of 315p in April last year to a high of 481p this week.
BP shares have jumped because of the ongoing turnaround efforts that pushed the management to focus on oil and gas instead of clean energy. It has also benefited from the rising crude oil prices, with Brent and West Texas Intermediate (WTI) rising to over $65 amid the rising geopolitical tensions.
BP’s earnings will likely be weak because of the lower oil prices during the quarter. Just this week, Shell posted the weakest quarterly profits in five years. Its adjusted earnings was $3.26 billion.
Barclays and Natwest
UK banks will also be in the spotlight next week as some of the biggest ones release their results. Barclays will go first on February 10 followed by Natwest, which will publish its numbers on Friday.
These numbers come as banking stocks have done well in the past few months. Barclays stock has jumped by 56% in the last 12 months, while NatWest rose by 54%. The two shares have dropped sharply in the last two days after the BoE hinted of a rate cut in March.
Barclays earnings will likely be strong because of its investment banking division, which is benefiting from the recovering corporate activity and trading activity. Natwest will also benefit from the rising profits as we experienced with Lloyds.
AstraZeneca
AstraZeneca, the biggest company in the FTSE 100 Index, will also be in the spotlight this week as it releases its numbers. These results come as the stock has jumped by over 45% from its lowest level in March last year.
The numbers come as the company announced a plan to list on the New York Stock Exchange (NYSE) and to invest $15 billion of dollars in China through 2030. It also announced a partnership with CSPC Pharmaceuticals to boost its obesity portfolio. It also plans to invest $50 billion in the United States.
Meanwhile, traders will also watch mining companies like Rio Tinto and Glencore, which abandoned their $260 billion merger this year. The two companies failed to agree on the price and governance for the combined company. Glencore wanted to own a 40% stake in the combined company.
The other top companies to watch next week will be Barrett Redrow, PZ Cussons, RELX, and Schroders.
Additionally, the FTSE 100 and FTSE 250 indices will react to the upcoming UK GDP data and a potential Trump strike on Iran.
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