ii view monthly round-up: April 2026
Hopes for an end to the war in the Middle East and a return to the AI theme helped fuel market gains. Analyst Keith Bowman looks at UK and US corporate events during the month.
5th May 2026 13:16
by Keith Bowman from interactive investor
ii view monthly round-up: April 2026
The S&P 500 and Nasdaq Composite both hit new closing highs in April, rising 10.4% and 15.3% respectively. Oil rose by just 4% compared to a 42% gain in March immediately following the start of conflict in the Middle East. The FTSE 100 index, with a heavy weighting to oil companies, rose by a more sedate 2%.
Specifically, shares in travel provider Saga (LSE:SAGA) soared 26% in April. The provider of services to the over 50’s reiterated profit growth and debt reduction targets to 2030. Transformed businesses and a push towards external partnerships are expected to underpin progress.
Alongside sea and river cruises, Saga sells insurance covering travel, motor, home and other requirements. The Kent headquartered company flagged fuel hedging arrangements in place for the next two financial years as well as only limited holiday bookings to Middle East regions Egypt, Cyprus and Turkey.
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AI exposed FTSE 250 company Computacenter (LSE:CCC) raised annual profit hopes. The tech hardware supplier and IT consultant highlighted strong first-quarter trading, driven by demand from hyperscale customers in both the US and UK. Shares in the Hertfordshire headquartered company rocketed 25% last month.
Fellow UK IT company Kainos Group (LSE:KNOS) also shot 14% higher. The Belfast company detailed a one-fifth increase in its workforce pushed by record customer backlog levels. Corporate and government demand for the group’s efficiency enhancing IT products is now expected to generate full-year sales above prior City forecasts. Annual results are scheduled for 18 May.
Advertising giant WPP (LSE:WPP) offered hope for recovery at its latest trading update. First-quarter adjusted sales to late March fell 6.7%, easing from a decline of 6.9% in the prior fourth quarter and better than the fall of 7.8% predicted by analysts. Shares in the company, now led by former Microsoft executive Cindy Rose, climbed 14% in April.
On the downside, paper and packaging maker Mondi (LSE:MNDI) dropped 10%. The FTSE 100 company highlighted rising costs underpinned by elevated energy prices. First-quarter profit missed City forecasts, with the group’s forestry operations now not expected to turn a profit given reduced wood prices.
Elsewhere, health goods maker Haleon (LSE:HLN) detailed a weak flu and cold season which hindered its recent performance. Group treatments include Theraflu and nasal airway clearer Otrivin. Shares in the former GSK division fell 9% during April despite the FTSE 100 company reiterating full-year sales and profit growth forecasts.
Shell (LSE:SHEL) and BP (LSE:BP.) fell 7% and 4% respectively over the month. Shell reduced expected first-quarter gas production given the impact of the war in the Middle East on its Qatari facilities in recent weeks. Q1 results are due 7 May.
BP reported a more than doubling in first-quarter adjusted profit compared to both the prior fourth quarter and the year ago period. An ongoing focus on reducing debt under new CEO Meg O’Neill, however, left the oil major’s share buyback programme suspended.
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In the US, shares in Magnificent Seven tech company Alphabet Inc Class A (NASDAQ:GOOGL) soared 34% in April. The owner of Google reported its fastest revenue growth since 2022, fuelled by growth in AI related services. Revenue at the group’s cloud datacentre business, hosting AI software for other companies, soared 63%.
Alphabet raised full-year 2026 AI spend to between $180 billion and $190 billion, an increase from a previous $175-185 billion. Shares currently lead 2026 year-to-date gains for Mag7 companies, rising 22% compared to Amazon’s 18% increase.
Less favourably, sports goods maker Nike Inc Class B (NYSE:NKE) fell 16%. In early April, the company forecast weaker than expected sales for the current fourth quarter to late May, hurt by continuing declines in China and potential disruption from the Middle East.
Earnings for the third quarter to late February fell by just over a third year-over-year, hurt by ongoing US trade tariffs. Nike exports goods made in Asia to its home US market. Former head Elliott Hill is now pushing a recovery programme including a focus on product innovation and cost savings.
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