4 FTSE earnings report to watch: CEY, FXPO, TW. and LGEN

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4 FTSE earnings report to watch: CEY, FXPO, TW. and LGEN

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 4 FTSE earnings report to watch: CEY, FXPO, TW. and LGEN
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Summary

  • Centamin, Ferrexpo, Legal & General Group and Taylor Wimpey are going to announce their earnings today.
  • FTSE 100 is gaining steadily after positive cooperate earnings by the companies.
  • Market’s future direction will depend on the outcome of the Bank of England policy meeting, which will take place on Thursday.

London’s FTSE 100 index has been gaining steadily over the last two weeks as many companies from the blue-chip index reported positive earnings that suggest optimism about the UK’s economic recovery. The FTSE 100 has gained over 10% this year, supported by strong cooperate earnings, successful vaccination across the country, and the re-opening of many businesses after an ease in restrictions. Going forward, investors will closely watch the Bank of England policy meeting outcome, for the central bank’s view on the economy and interest rate hike.

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Let us take a look at the expected results of four FTSE listed companies:

Centamin Plc (LON: CEY)

The company engages in the exploration and mining of gold across different countries. It operates the Sukari gold mine in Egypt. The company’s stock has a dual listing on the London and Toronto Stock Exchange.

The company will announce its interim financial results for the first six months on 5 August 2021. The result is expected to be in line with the company’s previous guidance and gold production output. During the first six months, the company’s total gold production was 204,275 oz with an average sell price of gold at USD 1,822/oz, which is on track as per the company’s full-year guidance of 400,000 to 430,000 oz.

Centamin Plc shares stood at GBX 107.60 as of the closing of 3 August, with a market cap of £1244.3 million.

Ferrexpo Plc (LON: FXPO)

The company engages in commodity trading and mining operations in central Ukraine. It mainly mines and processes the iron ore pellet, and it is the third-largest producer of iron ore pellet globally.

The company could report good interim results for the six months ended 30 June as the company’s operations had a minimum impact of Covid-19 led lockdown and continued to operate at full capacity during the second quarter of 2021, which led to a 5% rise in iron ore pellet production with a total production of 2.8 million tonnes.

Shares of Ferrexpo Plc last traded at GBX 495.20 on 3 August, with a market cap of £2914.8 million.

Taylor Wimpey Plc (LON: TW.)

The company operates as a housebuilding company with operations in the United Kingdom. The company builds and delivers various types of homes and communities. The company’s stock is a constituent of the blue-chip FTSE 100 index.

The housing market in the UK has seen a revival in recent times because of strong consumer demand, low-interest rates, and support from the government by providing an extension of stamp duty tax holiday, particularly for the first-time buyers could help the company report higher sales and good revenue growth.

Taylor Wimpey Plc shares closed at GBX 164.85 on 3 August, with a market cap of £6011.3 million.

Legal & General Group Plc (LON: LGEN)

The company provides various insurance and asset management products across various countries. It is one of the largest asset management companies globally in terms of AUM.

The company has a diversified business model with growing assets under management which could help the company post higher revenues and profit numbers in its interim financial result.  Also, higher household savings during the lockdown period will benefit the company as more people could invest their savings and buy financial products like insurance because of increased financial awareness during the lockdown period.

Legal & General Group Plc shares closed at GBX 263.80 as of 3 August with a market cap of £15748.6 million.

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