The FTSE 100 Index has retreated in the past few weeks, moving from a high of 10,990 in July to a low of 10,387. It has slumped to its lowest level since July 16. This article looks at some of the top shares to watch this week.
BT Group stock in focus amid TalkTalk buyout rumors
BT Group, a top UK telecom company, remains in a deep correction after falling more than 16% from its year-high. It will now be in the spotlight this week as the company considers making a bid for TalkTalk, a top competitor in the broadband industry.
The company has already made a bid, and according to FT, it plans to make a bigger offer. It has already started to talk with the Department of Culture, Media, and Sport on how to address major concerns. For one, a deal would trigger a major review because OpenReach is TalkTalk’s biggest supplier. Also, BT is the biggest broadband provider with a market share of about 30%.
The new buyout rumors come at a time when TalkTalk is considering other options. It was previously in exclusive talks to sell its wholesale division to Octopus Investments, and its consumer wing to Opus Broadband.
A bid by BT would come at a time when its growth has stalled. Its most recent results showed that its revenue in the June quarter was unchanged at 4.3 billion. Its consumer and business segments were unchanged, while OpenReach rose by 1%.
Tesco to publish earnings
The other key FTSE 100 shares to watch will be the interim results for the 2026/27 year, which will come out on October 8. These results come at a time when the stock is stuck in a correction after falling by 10% from the year-to-date high.
The most recent results showed that Tesco’s business was affected by the ongoing US-Iran war. Its revenue rose by 1.8% to over 16.86 billion pounds. Most of this growth was from the UK and Republic of Ireland (ROI) and Central Europe divisions. It was offset by its Booker division, which dropped by over 2%.
Shell and BP
Top energy stocks in the FTSE 100 Index like Shell and BP have soared this week because of the ongoing US-Iran war that pushed crude oil prices to the highest level in years. Shell and BP have all benefited from this surge, which has driven their profits substantially higher.
The stocks will be in the spotlight this week as investors watch the developments in the Middle East. Saudi Arabia and Yemen are confronting the Houthis, who are aiming to recapture the Bab al-Mandeb Strait. Houthis launched attacks against Saudi Arabia’s oil infrastructure.
Iran and the US are expected to restart their kinetic activity, with the latter hoping to push oil prices higher ahead of elections. If this happens, crude oil pricesmay continue rising, boosting Shell and BP shares.
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