In the last four days the FTSE 100 has recovered most of its losses from Monday, when stocks fell on fears about the Japanese yen carrying trade. Index has increased to PS 8,200 from the low PS 7,916 of this week.
Footsie has been in the limelight due to several significant earnings as well as last week’s Bank of England interest rate announcement. The bank announced that it would cut interest rates by 0.25 percent, bringing the rate up to 4.75%.
This week, several important FTSE 100 companies released their financial results. Glencore is a giant mining firm that has published their earnings. They have also committed to maintain the coal assets. Legal & General released its results along with WPP, Abrdn and InterContinental Hotels.
Hargreaves Lansdown is one of the largest financial service companies in UK. The company published their earnings, then agreed to be bought by a group of private equity firms like CVC Capital Nordic Capital and Abu Dhabi Investment Authority.
Flutter Entertainment
Flutter Entertainment will likely be among the top FTSE 100 firms to keep an eye on when it releases its financial results.
These numbers are coming at a moment when the gambling industry is under immense pressure. Entain (parent of Bwin Ladbrokes and Coral) has fallen from 2,400p to 600p since 2021.
Flutter Entertainment’s shares are down over 17% compared to their highest levels this year, while DraftKings has fallen over 36% compared to the YTD peak.
Flutter Entertainment’s share price is up over 7.8% since its low point in this week, after Entain announced strong results and raised its guidance. Entain now anticipates that its core profit will rise between PS1.04 and PS1.09, over the PS1.02 expected.
Recent bets placed on Euros and Olympics helped the company to boost its guidance.
Flutter’s latest results show that average monthly player numbers increased by 11% to 13,7 million in the first three months. The revenue grew by 16 percent to $3.39 billion, while adjusted EBITDA increased to $514 millions.
Flutter Entertainment estimates that its US revenues will be $6 billion for the entire year and its EBITDA adjusted to $710 millions. Revenue outside the US will reach $7.8billion.
Aviva
Aviva is one of the largest UK insurers. It has experienced some volatility in recent weeks. In July, its stock soared up to a year-to date high of 504p and then fell sharply on Monday to 448p. The stock has since recovered some of these losses, and traded at 484p last Friday.
Aviva’s financial results, which are scheduled for Wednesday, will likely be the next major catalyst in the share price of Aviva. The results of the financial report will reveal whether or not the business was successful in the second half.
Recent results show that general insurance premiums have risen by 16 percent to PS2.7billion. The UK and Canada are the main contributors to this increase. The Irs sales of health and protection rose by 5%, while the wealth inflows increased by PS2.7 billion.
The results of Legal & General will be released a week following the release of their results. The company increased its dividends by 5%, even though its profit remained unchanged in the first six months of the year.
Aviva, with its dividend history and ongoing turnaround under Amanda Blanc is my favorite UK stock. The company pays a dividend yield of 6.91%, which is higher than the average FTSE 100 company.
Admiral Group
In the last few months, Admiral Group’s share price fluctuated in a small range. The share price was 2,650p. This is 5.45% lower than its peak this year, and 5.4% higher than its low point of July.
Next week, Admiral Group is going to be the focus of attention when it releases its financial half-year results. The company’s most recent financial results showed that profit before taxes rose 23%, to PS443million. The company’s EPS grew by 17%, to 111.2p. Its return on equity jumped from 36% to 36.
The UK Insurance and Admiral Money were the main drivers of this result, while Admiral Pioneer and US Insurance saw a significant drop.
The results of this report will give a better idea about the business and management’s expectations for 2013. These results will reveal its impact on the recent acquisition of RSA Direct Home & Pet Insurance Rights in a PS82 Million deal.
Financial Conduct Authority has also begun an investigation into the Guaranteed Asset Protection (Gap Insurance) policy.
The post FTSE 100 Shares for Next Week: Flutter Aviva Admiral Group could be updated as new information becomes available
