Top FTSE 100 shares to watch: HSBC, BP, Glencore, Legal & General, Diageo

The FTSE 100 Index jumped to a record high this week as several important companies like IAG, NatWest, Lloyds, and Rolls-Royce published their financial reports and the Bank of England (BoE) delivered its interest rate decision. It soared to 10,976, up by 13.4% from its lowest level this year. 

This article looks at some of the top Footsie shares to watch next week, including large names like HSBC, BP, Diageo, Glencore, and Legal & General.

HSBC likely to report strong earnings

HSBC, a global banking group worth over 273 billion pounds, will be the top FTSE 100 Index company to watch as it releases its financial results on Monday.

Top banks have published strong results recently. For example, Lloyds Bank shares jumped after releasing strong numbers, helped by higher interest rates. Barclays also released strong numbers, helped by higher interest rates and the booming trading business.

Standard Chartered, a company with operations in Hong Kong and China, also released strong numbers. It expects full-year income growth to be between 5% to 7%. Its pretax profit jumped to $4.78 billion from the previous $4.38 billion. 

HSBC stock price has been in a strong rally and is nearing its all-time high. It has jumped by over 70% in the last 12 months, helped by its strong performance and the ongoing turnaround measures. Estimates are that its revenue jumped to over $19 billion, with the EPS rising to $2.32. 

READ MORE: Here’s why the Rolls-Royce share price is leading the FTSE 100 Index today

BP

BP share price has moved into a local bull market after rising by over 20% from its lowest level this year. This rebound has coincided with the rising crude oil prices, with Brent and the West Texas Intermediate (WTI) rising to over $80 a barrel.

The results come a few days after Shell published strong results, with its adjusted earnings rising to $9.84 billion, higher than the expected $8.79 billion. Its adjusted earnings rose to $4.26 billion, making it the best quarter since 2022.

BP’s earnings are coming at a time when the company is in the process of selling its North Sea business. Estimates are that the company could raise $2 billion after selling the business.

Glencore 

Glencore, a top mining company in the FTSE 100 Index, has remained in a narrow range in the past few months. It was trading at 540p on Friday, down by 20% from its highest level this year. 

Glencore stock will be in the spotlight as the company publishes its financial results. In a recent statement, the company said that its copper production jumped by 15% in the first half of the year, while its trading profits doubled. 

Glencore will also react to the recent contract win in Germany, where it will take over the Wilhelmshaven processing contract from Hartree. This deal expands Glencore’s footprint in the European fuel market, shortly after it acquired FincoEnergies. 

Legal & General

Legal & General share price has jumped by nearly 16% in the last 12 months, mirroring the performance of other insurers. This rally will be put to the test as the company publishes its financial results on Wednesday next week.

In its most recent results, the company said that its core operating profit rose by 6% to £1.6 billion last year, helping it launch a £1.2 billion share buyback. It also boosted its dividend by 2%, bringing its planned returns to shareholders to £2.4 billion.

In addition to these companies, the other top FTSE 100 shares to watch will be Diageo, Admiral Group, Harbour Energy, and Smith & Nephew.