FTSE 100 shares to watch: Aviva, ITV, Harbour Energy, Greggs, IWG

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on Mar 1, 2024
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  • The FTSE 100 index continued to lag its American peers this week.
  • There were some notable earnings this week like Abrdn and St. James Place.
  • The key earnings expected next week are insurers, ITV, and Greggs.

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The FTSE 100 index remained in a tight range this week even as some of its biggest constituents like IAG, Abrdn, Croda, Just Eat Takeaway, St. James Place, and the LSE published their financial results. The index also wavered even as its American peers like the S&P 500 and Nasdaq 100 indices surged to their record highs.

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Corporate earnings and economic numbers will be in focus next week. In the economic side, the key numbers to watch will be the country’s house price index from Halifax. On Friday, a separate report by Nationwide showed that the UK house prices continued rising in February. The house price index jumped by 0.7% from January and by 1.2% from the same month in 2023.

More FTSE 100 companies will publish their financial results next week. The most notable ones will be the biggest insurance companies in the UK like Aviva, Legal & General, Quilter, Admiral Group, Beazley, and Direct Line. 

These results will be important because of the size of these companies and their role in the Footsie index. Also, they will be notable because of the recent crackdown on insurance companies by the Financial Conduct Authority (FCA).

On a positive side, these companies are benefiting from the soaring auto insurance prices. The average price has jumped to £995 and is expected to hit £1,000 this year.

The other important news will come from Direct Line, which has rejected a £3.1 billion offer from Ageas, a Belgian insurer. Direct Line believes that the unsolicited offer undervalued the company.

Meanwhile, embattled ITV, which is now a FTSE 250 company, will publish its financial results next week. These numbers will come a few days after the company decided to sell stake in BritBox, a US streaming service to BBC in a £235 million deal. The deal helped to push the ITV share price up by over 15% on Friday.

Analysts expect that ITV will publish weak financial results next week as the advertising industry goes through a major slowdown. As a result, it will announce measures to slash costs in a bid to boost its profitability.

The other important FTSE 100 and FTSE 250 companies to watch next week will be Harbour Energy, IWG, Greggs, Entain, Melrose Industries, Robert Walters, Tullow Oil, IWG, and Rentokil Initial. Entain will provide more information about its recent large fine in the UK while energy companies are expected to publish strong financial results. IWG, on the other hand, will provide more hints about its business after WeWork filed for bankruptcy.

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