The FTSE 100 Index remained in a narrow range last week as investors reacted to the Bank of England (BoE) interest rate decision and key earnings by companies like Lloyds, NatWest, and Rolls-Royce Holdings. This article explores some of the top FTSE 100 shares to watch this week.
HSBC Holdings
The first main FTSE 100 stock to watch will be HSBC, the biggest bank in Europe, which will release its numbers on Monday.
These numbers come as the stock is hovering near its highest point on record. It ended last week at 1,360p, down slightly from the all-time high of 1,374p.
The stock has jumped by 71% in the last 12 months, beating other banks like Lloyds, Barclays, and NatWest. This surge has brought its market capitalization to over $312 billion, making it the most valuable European bank.
Analysts believe that the company’s business continued growth in the first quarter, helped by its trading business. The most recent results showed that its annual revenue rose by 4% to $68.3 billion, while its profit before tax (PBT) fell by 7% to $29.9 billion. Excluding notable items, its profit jumped by 7% to $36.6 billion.
Shell
Shell stock price will be in the spotlight this week as the company publishes its financial results on Tuesday. These numbers come as the stock has pulled back from the year-to-date high of 3,588p in March to 3,290p.
The company will release its financial results on Tuesday this week. Analysts expect its financial results to be strong and guidance, helped by the elevated energy prices.
Brent crude oil has jumped from $55 earlier this year to $110 today. Similarly, the West Texas Intermediate (WTI) has also moved above $100, while natural gas has continued soaring.
Therefore, there is a possibility that the company’s guidance will be strong, which will push it to boost its dividend and buybacks. For example, in its earnings report last week, TotalEnergies made a net income of $5.4 billion, up by 29% YoY. As a result, the company boosted its dividends and share buybacks. Chevron also published strong numbers, citing higher prices.
IAG
IAG share price has slipped in the past few months, moving from a high of 463p in February to 371p. This crash happened as the Iranian war continued, pushing jet fuel prices up by nearly 100% since February.
The soaring fuel prices have contributed to the recent Spirit Airlines bankruptcy. It also contributed to the recent flight cancellation by Lufthansa, which canceled thousands of flights recently.
The company will publish its financial results later this week, providing more color on its performance. It will provide guidance of its business as the Iran war has continued.
IHG
InterContinental Hotels Group (IHG) share price has held steady in the past few months. It was trading at 145p on Friday, a few points below the year-to-date high of 149.30p. It remains much higher than the year-to-date low of 123p.
The stock has done well despite the ongoing Iran war that has disrupted travel, especially in the Middle East, where it does a lot of business. The most recent results showed that its revenue jumped by 7% last year to $2.46 billion, while its operating profit from reported segments rose by 13% to $1.26 billion.
The other top FTSE 100 Index shares to watch will be companies like RBC Bank, Bank of Georgia, JD Sports, Coca-Cola, Harbour Energy, and Ferguson.
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