FTSE 100 stocks to watch: Airtel Africa, BT, Compass

Traders kept the FTSE 100 in a narrow range this week while reacting to rising tensions between the US and Iran and the start of the US earnings season. Next week investors will focus on three large UK-listed companies that have significant near-term updates.

Airtel Africa is in the spotlight after a 22% slide from its high earlier this year. The group has hired additional banks and is progressing plans for an IPO of its Airtel Money mobile payments unit, expected later in the year. Market estimates put a valuation for Airtel Money at about $10 billion. The payments unit serves more than 54 million customers through thousands of branches and kiosks across Africa and reported roughly $1.35 billion in revenue over the past year.

BT Group will publish a first-quarter trading statement next week that investors expect will provide fresh data on the company’s turnaround. The share price has fallen from a year-to-date high of 241.7p in May to about 193p. Analysts’ consensus forecasts point to Q1 revenue of about £4.7 billion, down roughly 0.9% year-on-year, with the consumer arm and Openreach contributing around £2.3 billion and £1.57 billion respectively and the business division close to £1.2 billion. Adjusted EBITDA for the quarter is forecast at about £2.029 billion.

The company’s turnaround plan, led by CEO Allison Kirby since 2024, includes large job reductions, a pullback from some international operations and increased investment in Openreach. Forecasts from analysts indicate full-year revenue may remain under pressure over the next two financial years, with growth projected to return in FY29. Broadband subscriber losses have been a continuing headwind. Recent investor activity in a rival UK telecom has added a competitive element to the sector.

Compass Group will report half-year trading on July 21. In its previous six-month statement to March 31 the company reported roughly $25 billion of revenue, up about 9%, and operating profit up about 12%, lifting operating margin to 7.4%. Management attributed margin improvement to overhead leverage and gains from recent acquisitions. The July update will provide more information on whether revenue growth is holding and on the effect of geopolitical tensions and softer consumer markets on its international operations.

Other FTSE names drew attention during the week. Watches of Switzerland released strong results and has been linked in market commentary to potential takeover interest in the luxury retail segment. The early phase of the US earnings season, with results from major banks and entertainment groups, has added to global market focus on profit trends and economic resilience. Analysts and fund managers say next week’s corporate updates from Airtel Africa, BT and Compass will supply further data on earnings momentum and investor appetite for large UK listings.