While US earnings season is underway, it’s also somewhat of a busy week in London with a number of firms reporting, including IAG (LON: IAG) and Wickes (LON: WIX). Meanwhile, the short interest in Kingfisher (LON: KGF) is building…
- IAG will report its first-half results on Friday, July 28.
- The British Airways owner’s shares have dipped in the last month or so, but it has found somewhat of a base around 155p.
- The signs ahead of the release (as they are for most airlines) are positive, with Google search interest for British Airways up 6% in the last year.
- In addition, web traffic to its Vueling and Iberia airlines remains strong, despite a slight dip in visitors to the British Airways site.
- Wickes will post its second-quarter trading update on Tuesday, July 25.
- It will be interesting to see if the recent controversy surrounding comments made by the company’s chief operating officer has had an impact on sales.
- However, revenue may have been helped by homeowners focusing on improving their own homes amid the current rate environment impacting the housing market.
- The stock is down 16% this year.
- B&Q and Screwfix owner Kingfisher is up just over 2% in 2023, but there could be some downside on the horizon if some institutional firms are right, with short interest in the stock building.
- In fact, Kingfisher has become the most-shorted stock on the London Stock Exchange, with 5.2% of its shares sold short by firms including BlackRock Investment Management and GLG Partners.
- We will be watching to see if the pressure builds on the stock this week.
- The company will report its half-year results in September.
By Sam Boughedda