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.
IAG eyes Q1 earnings surge with 420% growth forecast, as strong gold prices and Cote ramp-up offset ongoing cost pressures.
The FTSE 100 Index retreated by nearly 1% on Monday, mirroring the performance of other global indices after the closure of the Strait of Hormuz. It dropped to £10,600 from last week's high of £10,717.
IAG share price has rebounded in the past four consecutive weeks and is showing bottoming signs as crude oil retreats from the year-to-date high. It was trading at $383 on Monday, up by 15% from its lowest level this year.
Shares in British Airways owner International Consolidated Airlines Group (LSE:IAG) and engine maker Rolls-Royce Holdings PLC (LSE:RR.) fell at the start of the week as a sharp rise in oil prices hit travel and aerospace stocks.
Travel and aerospace stocks led gains in London on Wednesday after the US-Iran ceasefire relieved tension across the sector. Wizz Air Holdings PLC (AIM:WIZZ) and easyJet PLC (LSE:EZJ) were among the strongest FTSE 350 performers, rising more than 13% and 10% respectively, while cruise operator Carnival PLC (LSE:CCL) gained close to 10% and British Airways owner International Consolidated Airlines Group SA (LSE:IAG) advanced 8.5%.
Iamgold (IAG) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Airlines and related stocks such as engine maker Rolls-Royce Holdings PLC (LSE:RR.) were lifted higher in early trading on Wednesday as oil prices fell after comments from the US and Iran raised hopes of an end to the war in the Middle East.
The International Consolidated Airlines Group (IAG) share price has slumped in the past few weeks since the US-Iran war started in February as c,oncerns about soaring fuel costs rose. IAG stock dropped to $349 on Monday, down by 25% from its highest point this year, lagging behind the FTSE 100 Index, which has dropped by 8.25% from its highest point this year.
Shares in airlines and associated industries were hit on Monday as investors buckle up for a longer period of turbulence in air travel markets due to the Iran war, hiking fuel prices and dampening demand On the FTSE 100 British Airways owner International Consolidated Airlines Group SA (LSE:IAG) and easyJet PLC (LSE:EZJ) were down 2.9% and 2.8%, while Rolls-Royce Holdings PLC (LSE:RR.), which makes and maintains engines, fell 4.9%.
Airline companies across Europe, including International Consolidated Airlines Group SA (LSE:IAG) and easyJet PLC (LSE:EZJ) in London, flew higher on Wednesday morning as investors continued to react to the back and forth of the Middle East conflict. Oil prices had softened but only very moderately, after a deal made by Iraq to transport oil across Turkey and avoid having to use the Strait of Hormuz.
IAG share price continued its strong downward trend today, March 18, its fifth consecutive day in the red. It has slumped from the year-to-date high of 463.6p in February to the current 351p, and this trend may continue as the company faces a double whammy of high energy prices and flight disruptions.