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    FTSE 100: earnings watch

    As we move through February UK firms start to release 2014 earnings. Below we look at the most important UK companies to release earnings this week, and what it could mean for the market.



    The key things to watch out for inlcude:

    • ARM Holdings – in a good position as a supplier to Apple, after Apple reported stunning results for 2014. It has already announced plans to make its production line more efficient, which should bode well for future business. ARM has backed off recent highs, but the all-time record high  is still on the horizon at 1112p, the high from 31st Dec 2013.
    •  Rio’s share price has been in consolidation mode in recent days. The market is expecting weak results, but any sign that its outlook is not as bad as (low) expectations could see this stock attack the 200-day sma at 3,113p – a key level of resistance. Above here would be a bullish development for this stock.
    • Tullow’s results are expected to be dreadful, but is all the bad news priced in? This stock’s share price is not correlated to the oil price, it’s been falling for 2 years. Unless Tullow announces a major turn-around in its business model, it is hard to see why the market would get too enthused with this stock. Support lies at 393p – the 50-day sma.

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