Saxo's - Top 5 Irish stocks to watch

Summary

As investors move into the tail-end of the year, December brings an opportunity to assess what 2023 holds for a number of stocks across different sectors.

International events such as the lead up to Christmas and the ongoing World Cup will likely see an upturn in profits for many companies, though most have been priced into projections.

On the other hand, the current cost of living and pricing restrictions will also make December an important time for companies to get ahead of what could be a New Year slump.

Saxo's top 5 Irish Stocks to Watch:

Ryanair (RYAAY)

Ryanair reported positive half-year profits in early November and CEO Michael O'Leary believes sales will continue to increase going into the new year as many across the UK and Ireland look to budget airlines for their 2023 summer holidays. Plus, he said Americans are benefiting from the strong dollar and many countries in Asia are starting to lift Covid restrictions.

Flutter Entertainment (FLTR)

Owners of bookmakers including Paddy Power and Betfair announced an 82% year-on-year jump in the United States in their Q3 results last month. The stock has been on a steady rise since late September. Plus, the group will be hoping for a strong Q4 performance off the back of activity around the World Cup.  

Bank of Ireland (BIRG)

In September, the Bank of Ireland returned to full private ownership after the government sold its remaining shares in the company. The stock is up year-to-date though the recent rise in interest rates in Ireland could have a wider effect on the stock market in the next few months.

HealthBeacon (HBCN)

The company announced last week that they had developed a new software platform to help cancer patients take their medicine more safely. The stock floated on the Euronext Dublin last December and is currently 42% in the green month-on-month. 

Barryroe Offshore Energy (BEY)

Barryroe Offshore Energy, formerly Providence Resources, announced last week that a €40million loan had been agreed to help provide cover for the company's new offshore drilling project in Southern Ireland.

CEO Alan Curran said work will likely start in 2024. The firm's share price has increased 14% in the past week. More details will likely be revealed in weeks to come.

December’s top Earnings calls /AGMs to follow:

13/12 - Microsoft - AGM

15/12 - Adobe - Q4 2022 Earnings

16/12 - Accenture - Q1 2023 Earnings

20/12 - Fedex - Q4 2022 Earnings

20/12 - Nike - Q2 2023 Earnings

06/01 - Samsung pre Q4 earnings guidance

FX - Latest on the EURO

The Euro has performed well against the US dollar over the past month, though Eurozone recession fears have seen this slow in recent days.

The currency has also gained marginally to the pound despite sterling bouncing back from the UK Government’s devastating mini-budget announcement in October.

Currency Pairing / Monthly % change:

EURUSD - 4.99%

EURCAD - 3.59%

EURGBP - 0.14%

EURDKK - -0.12%

EURAUD - -0.40%

EURCHF - -0.47%

EURJPY - -2.66%

EURNZD - -3.89%

Data recorded from SaxoTrader at 11.00am 29/11/22