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(Sharecast News) - Tuesday will bring second-quarter results from BP and half-year results from HSBC, among others.
As far as BP is concerned, AJ Bell analysts Danni Hewson and Russ Mould said the oil giant expects to benefit from rising oil prices and higher refining margins in the second quarter despite a drop in upstream production related to the Iran war.
"CEO Meg O'Neill's 'back to basics' approach will be in focus as BP looks to simplify operations and tighten financial discipline," they said. "With share buybacks suspended, O'Neill is pursuing a $20 billion disposal program aimed at deleveraging the balance sheet by the end of 2027.
"First half capital expenditure levels will show whether BP's capital discipline is holding. The resumption of share buybacks will likely be conditional on prevailing oil prices."
Investors will also eye half-year results from Smith & Nephew, Convatec, Capita, Domino's Pizza, Metro Bank, Rotork, SIG, Travis Perkins and Keller.
In the US, quarterly results from AMD and Pfizer will be out. Also, Elon Musk's SpaceX will release its first quarterly numbers since becoming a public company.
Hewson and Mould said SpaceX's share price since listing in June has been "bumpier than one of its rockets re-entering earth's orbit".
"Following the acquisition of xAI in February, investors will get a first look at the segment's profitability and spending plans," they said. "An upcoming test for investor sentiment is the potential release of up to 20% of eligible insider shares which, if exercised, would swamp the current public trading free float.
"Guidance on expected cash flows and funding requirements will be key questions on shareholders' minds as they weigh SpaceX's prospects against the risks."
In Europe, second-quarter results from Zalando and Lufthansa will also be in focus.
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