Saxo’s top 5 Irish stocks to watch - February preview

Summary

February marks a year since the war in Ukraine started, impacting market prices across Europe. 

Following a challenging year,  increases in oil and gas prices have contributed to higher consumer prices for heating, electricity and petrol, tightening Irish households’ budgets this winter. 

However, February still marks a time of opportunities for investors as companies navigate through stock market volatility and uncertainty.

Saxo’s Top 5 Irish stocks to watch

Ryanair 

Low-cost airline Ryanair declared soaring profits in their Q3 earnings this week following the positive outlook of EasyJet last week. The Irish airline saw sales rise 57% in the final three months of last year and more demand is expected with the airline warning prices may rise leading into Easter.

AIB

Dublin-based bank AIB has seen a 7% rise in its share price over the past month. This month, the Irish Minister for Finance Michael McGrath further extended AIB's share trading plan into a third phase which is due to end in July. The Minister said the trading plan has been successful to date in gradually reducing the State's investment in the bank and improving liquidity in its shares.

Uniphar

This week pharmaceutical company Uniphar announced the go ahead of its acquisition of McCauleys pharmacies. Following the news on Friday, the company's shares have risen 8%. Uniphar’s stock is still fighting back after it’s price fall from €5 in January 2022 to €3.30 in January 2023.

Kingspan

Building materials giant Kingspan is still down 28% year-on-year, but has grown 16% month-on-month. This week they announced a move into insulated panel technology in a bid to their commitment to Net Zero carbon manufacturing by 2030.

Lansdowne Oil & Gas

This week Lansdowne Oil & Gas PLC raised 300,000 pounds ($372,120) via a share placing and will use the money to meet its share of the Barryroe field costs as well as working capital requirements through to the end of May.

Back in October, Lansdowne shares dropped as further Government intervention into their lease application risking the deal falling through. Yet shares bounced back in November when Lansdowne confirmed their financial capabilities to fund the project.

January’s top Earnings calls /AGMs to follow

February 2 - Apple Inc.Q1 2023 Earnings

February 2 - Alphabet C and A Q4 2022 Earnings

February 2 - Shell (ex Royal Dutch Shell) Q4 2022 Earnings

February 2 - BT Group Q3 results

February 7 - SSE Q3 Trading Statement

February 14 - Coca-Cola Inc. Q4 2022 Earnings

February 17 - Hermès (Hermes International) Q4 2022 Earnings

February 21 - HSBC Holdings plc Q4 2022 Earnings

FX - Latest on the EURO

The Euro has weakened its position against the pound this month. However, the Euro continues to hold a strong position against the dollar.

This means the US's economy is currently more stable and the level of inflation is not as high as in Europe.

Currency Pairing / Monthly % change

EURUSD / 2.17%

EURCHF / 1.87%

EURCAD / 0.57%

EURDKK / 0.03%

EURNZD / 0.01%

EURJPY / -0.15%

EURGBP / -0.58%

EURCNH / -0.99%

EURAUD / -2.14%

Data recorded from SaxoTrader at 9.30am 30/O1/22

Disclaimer: This should not be considered as financial, investment, tax, trading or other advice, or recommendation to invest or disinvest in a particular manner.