The British stock market will digest a plethora of earnings releases from major FTSE heavyweights next week as the results season hits top gear and investors seek to build on slim gains. On Friday, London's FTSE 100 index of leading shares ended at 5,719.70 - up by a marginal 0.21 percent or 12.1 points from a week earlier.
The previous week, the FTSE had posted its first weekly drop in a month owing to record high oil prices, which have since pulled back.
The energy sector will be of particular interest next week, with crude prices striking recent historic heights on supply concerns fuelled by tensions in the oil-rich Middle East.
British major BP and Anglo-Dutch peer Royal Dutch Shell issue their interim earnings statements on Tuesday and Thursday respectively. Peers BG Group and Centrica also publish their latest data.
According to Mike Lenhoff, stock market analyst with Brewin Dolphin Securities, the latest round of results were more than likely to contain positive earnings news.
"Thus far in the reporting round, there have been five positive surprises for every earnings disappointment," Lenhoff said.
"With the most favourable valuations in years, a little good news can pack a powerful punch when volumes are low and the trading is thin. More than a little will send equity markets flying."
In the telecommunications sector, results are due from Vodafone, the world's biggest mobile phone company, and telecoms operator BT Group.
Earnings are also to be released by British pharmaceuticals group GlaxoSmithKline and Anglo-Swedish drugs giant AstraZeneca.
Other FTSE heavyweights issuing results include Anglo-Dutch consumer goods giant Reckitt Benckiser, news and financial information giant Reuters, aerospace giant Rolls-Royce and satellite broadcaster BSkyB.
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