Friday preview: BP and NatWest slated to report

(Sharecast News) - Friday will bring quarterly results from BP and NatWest, as well as quarterly numbers from ExxonMobil and Chevron in the US. AJ Bell analysts Russ Mould and Danni Hewson said: "It's been a journey to contend with the Odyssey to get there but BP's share price recently reached its highest level since the Deepwater Horizon oil spill in 2010. Recently appointed CEO Meg O'Neill has proved to be a lucky general as the spike in energy prices has helped bolster profit and pay down debt.

"Not that her tenure has been without challenges, perhaps most notably the departure of chair Albert Manifold under a cloud in May.

"With Manifold's interim replacement Ian Tyler now in place, there is a stable base to continue reviving a business which got itself into a muddle with its transition strategy.

"Investors will be monitoring the results for news of further write-downs for its green energy assets as well as signs the business is making the necessary improvements to ensure robust profitability and cash flow is not just a temporary windfall from supportive oil and gas markets.

"O'Neill may also be expected to tease a big strategy update in December which will be expected to address how BP pivots from recovery to growth."

Also of note will be the latest policy announcement from the Bank of Japan. ING said that after September's policy rate hike to 1.25%, the BoJ is expected to deliver a hawkish hold.

"In focus will be the release of the October outlook report featuring the latest forecasts for growth and inflation," it said. "CPI projections above 2% for FY27 and FY28 should support expectations of rate hikes to 1.75-2.00% next year."