The FTSE 100 Index has traded in a tight range this week as geopolitical tensions between the US and Iran and the start of the US earnings season—with major reports from JPMorgan, Goldman Sachs, and Netflix—kept investors cautious. Looking ahead, several blue-chip names are set to drive attention next week, including Airtel Africa, BT Group, and Compass Group.
Airtel Africa Advances Airtel Money IPO
Airtel Africa shares have declined roughly 22% from their 2025 peak, paring some of last year's gains. The company is expected to remain in the spotlight as it progresses toward the initial public offering of its mobile money unit, Airtel Money. Reports indicate that additional investment banks have been appointed to manage the listing, which is anticipated later this year.
Valuation estimates for Airtel Money stand at approximately $10 billion. If realized, this would mark the largest London listing since Wise went public. The unit operates thousands of branches and kiosks across Africa, serving over 54 million customers. In its most recent fiscal year, Airtel Money generated more than $1.35 billion in revenue.
BT Group to Release Q1 Trading Statement
BT Group shares have fallen from a year-to-date high of 241.7p in May to around 193p. The company's first-quarter trading statement, due next week, will provide insight into its ongoing turnaround strategy under CEO Allison Kirkby, who took the helm in 2024.
Analyst consensus projects Q1 revenue of £4.7 billion, a decline of 0.9% year-over-year. Consumer and Openreach segments are expected to contribute £2.3 billion and £1.57 billion, respectively, while the business division is seen at £1.2 billion. Adjusted EBITDA is forecast at £2.029 billion.
BT Group has announced plans to reduce its workforce by thousands, exit international operations, and increase investment in Openreach. However, analysts anticipate that annual revenue will edge lower over the next two fiscal years, with the first growth not expected until FY2029. The company continues to lose broadband subscribers, adding pressure to its top line. The results follow news that Xavier Niel recently became a major investor in rival Vodafone.
Compass Group Trading Update
Compass Group, a global food services provider operating in more than 25 countries, will publish a trading update on July 21. The company serves clients across education, healthcare, sports, and defense sectors.
In its last earnings report for the half-year ended March 31, Compass posted $25 billion in revenue, a 9% increase, while operating profit rose 12%. Operating margin improved to 7.4%, supported by overhead leverage and merger synergies. Next week's update will offer further details on growth trends and the potential impact of US-Iran tensions on its operations.
Investors may also keep an eye on Watches of Switzerland, which recently reported strong results and has been the subject of takeover speculation amid a luxury sector recovery.
For broader market context, the Hang Seng Index faces similar geopolitical and earnings headwinds, while the Kospi Index has rallied on tech strength.
This article is for informational purposes only and does not constitute financial advice.
