If you are using myEvents feature of our myMarkets product to monitor your portfolio right now, you can easily identify that financial results is currently the hottest event among FTSE 100 companies.
Amid the challenging time for oil and banking sector, it seems that the firms showing some positive signs in their progress of recovery have received more significant attention from financial participants. According to our signals, April 26 and April 27 saw a big trend among financial crowd talking about the financial results of BP, Barclays and Standard Chartered.
BP‘s first-quarter results gained the most attention from the crowd as it had done much better than the analysts’ prediction. The oil giant delivered a profit of $532 million instead of a loss thanks to heavy cost cutting and was positive about the outlook of oil price recovery.
The same effect happened to Barclays and Standard Chartered. Shares of the two big banks soared after their results as investors were cheered by the signals showing that these banks are recovering. Barclays posted its better-than-expected results for the first quarter of 2016 although profit slumped 25%. The bank also hopes to see profitability increase in the coming years and is in a good process of reshaping. Despite a 60% decline in its first quarter profits, Standard Chartered’s new turnaround strategy in emerging markets proved to be effective as it had returned to profit after the first annual loss for more than 25 years in 2015.
Lloyds Banking Group reported nearly 50% drop in its pre-tax profits to £654 million, which was resulted from its decision to buy back £3 billion of high income bonds in the first quarter. This move cost the bank £800 million. The results met expectations and investors still have faith in Lloyds’ ability to pay dividends. The bank resumed its dividend payout last year, the first time since the financial crisis. Lloyds has also earned heavy attention from the crowd, but it seems the crowd have shown more interest in the performance of other peers in the industry.
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