Shares in IAG are off their best levels, having retreated from another attempt to climb back above the 640p cloud-line to revisit recent 19yr highs of 676p. This as CEO Willie Walsh introduces upgraded mid-term guidance (2018-2022 vs 2016-2020 prior) at today’s annual capital markets day. Average annual profits (EBITDAR) of €6.5bn are 22.6% higher…
It’s been a while since BT shares were top of the UK Index pile, and it was fleeting to say the least. Q3 financials were in-line with expectations, and management confident in reiterating 2017 guidance, but the shares have already breached this week’s 260p support. Income investors welcome the sweetener of an interim dividend fixed…
Next shares have extended their October reversal after a disappointing trading update. Poor Q3 sales growth (Retail -7.7% vs -3.7% est; Total +1.3% vs +2.9% est) and a narrowing of FY guidance (essentially a cut to the top end) have not gone down well. Directory Sales actually beat guidance, accelerating in Q3 (13.2% vs 11.4%…
Heavyweight BP’s Q3 results have sent its shares over 3% higher, adding a significant 12pts to the UK 100 index this morning. This comes after the oil major delivered a consensus-beating $1.87bn in Underlying Replacement Cost Profits (preferred industry measure), reporting its highest refining earnings in five years and good news of its E&P segment…
Macro observations As earnings season draws to a conclusion for another quarter, the focus for foreign exchange traders will be firmly set on geopolitics and central banks as a raft of potential market bombshells are prepared this week. Things get off to a flying start as we expect the first indictments from former FBI chief…
27 Oct The Armchair Trader (Link) Accendo Markets analyst, Mike van Dulken commented on the results, “It may still be a case of “next year Rodney”. However, given where the bank has come from in terms of travails, this morning’s positive reception to the Q3 update suggests shareholders still of the view that, in the grand scheme of things,…