The FTSE 100 index continued its remarkable bull run this week as investors reflected on the Bank of England (BoE) interest rate decision and after the strong UK GDP numbers. It surged to a record high of £8,440, making it one of the best-performing European indices.
Next week will be an important one for the Footsie as many big companies are set to publish their financial results that will provide more colour on their operations. Most firms that have already published their numbers have pointed to robust revenue and profitability growth. The most notable were firms like Lloyds, HSBC, and Barclays.
FTSE 100 index chart
Telecommunication companies like Vodafone and BT Group will be the key companies to watch next week. These will be important earnings because they are some of the top laggards in the FTSE 100 index this year.
Vodafone’s share price has barely moved this year and is already 41% below its highest point in 2022. BT Group, on the other hand, has crashed by over 21% from its highest level this year and by 41% from its 2021 highs.
British telecom companies are struggling because of their high competition levels in the country, inflation, Ofcom pricing regulations, and strong capital investments. BT’s Openreach is spending millions of pounds each quarter to grow its fibre network.
EasyJet is another FTSE 100 company to watch as it publishes its interim results on May 16th. These results will come a few days after IAG, the parent of British Airways, released strong figures, helped by the strong Easter demand and forward summer bookings. EasyJet’s stock price has also wavered this year.
Land Securities (LAND), one of the top UK real estate companies, will also be in the spotlight as it releases its financial results. These figures comes at a time when its stock has jumped to its highest point since January. It has risen by 62% from its lowest point in 2022.
These results will provide more colour about its properties at a time when the Bank of England is considering slashing interest rates.
The other top FTSE 100 index companies to watch will be Experian, Imperial Brands, Compass Group, and Diploma
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