Investors will be eager to see how far declining oil prices have affected oil major BP (LON:BP.) when it provides a trading update on Tuesday.
Brent crude prices have fallen by a fifth since April with trade war tensions accompanied by intrigues in the Iranian gulf, down below $60 a barrel for Brent crude at the start of October.
BP’s shares have responded in tune with a 12% drop from their year-high in March and were hovering at 512p on at market close last Friday.
Analysts at AJ Bell say that the oil giant’s earnings are likely to have been damaged by the dip in prices, as well as ongoing environmental concerns, but say that investors should pay attention to cash flow numbers, since this will dictate the dividend.
Tense times for trader Plus500
Ever-volatile Plus500 Ltd (LON:PLUS) will give a trading statement on Tuesday, hoping to continue the uptick in its last quarterly revenues.
Back in July, the online trading platform, which is headquartered in Israel but operates a subsidiary in London, said turnover was up to US$148mln helped by increased volatility in financial markets.
Investors will be hoping to see last quarter’s gain in customers spilling over into higher revenues in the third quarter.
Shares have more than halved since February, hovering at 788p on Friday, following a profit warning that said tighter regulations were causing a slump in CFD (contract for difference) trading, sending revenues down from a mega-year in 2018 based on surging cryptocurrencies.
Significant events on Tuesday 29 October:
Interims: Bloomsbury Publishing Plc (LON:BMY)
Trading statement: BP PLC (LON:BP.), Hunting PLC (LON:HTG), Plus500 Ltd (LON:PLUS)
AGMs: Vela Technologies PLC (LON:VELA)
Economic announcements: US consumer confidence, US home sales