Week ahead: Oil majors and GDP numbers set to steer markets

Billy Bambrough
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BP Filling Station Signage
Results from BP will be one of the bigger of the many earnings reports this week (Source: Getty)

Markets in the UK and Europe seem to be running out of momentum recently but a influx of earning reports this week may go some way to liven things up.

The blue-chip FTSE 100 was up 0.5 per cent at 6,730.48 points at its close on Friday, its fifth straight week of gains.

The latest GDP numbers from the UK, US and the Eurozone will dominate the agenda however as investors get their first peek at growth in the second quarter.

Tomorrow second-quarter results from BP are expected to show cash flow remains under pressure as well as fresh restructuring charges. Royal Dutch Shell has a trading statement due out on Thursday.

Lloyds Banking Group is expected to bolster profits when its updates the market with its half-year results on Thursday.

Barclays posts its half-year figures on Friday after a better-than-expected results season from its US counterparts, but Brexit will remain the dominant issue.

Other data to watch for comes from Ryanair this morning and British Airways owner IAG on Friday.

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