MoPh Markets

IAG to Post H1 Results, Kingfisher Shorts Build — 3 Stocks to Watch

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

Vueling Web Traffic – Source: Semrush
  • 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

  • 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.

Kingfisher

Source: ShortTracker.co.uk
  • 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