Six million Brits to get cost-of-living payments: Which stocks to eye?

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 Six million Brits to get cost-of-living payments: Which stocks to eye?
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Highlights:

  • People with disabilities will receive the £150 cost of living payment in September, the Department for Work and Pensions has announced.
  • The payment will be made directly to those receiving certain disability benefits.

Amid the high cost of living due to the soaring energy and grocery bills, millions of Brits with disabilities are set to get some relief when they receive the cost-of-living payment next month. A new notification from the Department for Work and Pensions (DWP) has informed that about six million people with disabilities will receive the one-off payment starting 20 September.

The £150 payment, announced in May, is to support people with disabilities with the rising prices and additional expenses they may incur, such as care or specialist equipment. The payment will be made directly to the people who receive certain disability benefits, DWP said, adding that most of the beneficiaries will get the amount within two weeks of the notified date.

The latest announcement comes a month after DWP announced that over 7.2 million people were issued cost of living payments of £326 as part of the government's support package to ease the inflationary pressures on households. A second instalment of the payment of £324 will be made to these households in winter.

Cost of living payment

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Notably, grocery prices have been rising, and electricity bills are estimated to hit at least £3,000 when the new energy price cap comes into effect in October.

In the wake of the above information, let us explore some London-listed stocks worth keeping an eye on.

Tesco Plc (LON: TSCO)

Tesco is a multinational groceries retailer with over 4,700 stores in the UK, and other European countries, along with an online store. Its shares slumped 1.59% and were trading at GBX 266.10 as of 1:30 pm GMT+1 on Tuesday. The FTSE 100 constituent holds a market cap of £20,251.17 million, and its 12-month return currently stands at 7.95%. On the other hand, the year-to-date return stands in the negative territory at -8.21%. As of 23 August, the stock has an EPS of 0.19.

Unilever Plc (LON: ULVR

The multinational fast-moving consumer goods company holds a market cap of £99,134.32 million. The FTSE 100 constituent posted an underlying operating profit of €5 billion for the first six months of 2022, 4.1% higher than H12021. Its underlying sales grew 8.1%, while the turnover rose 14.9% against the same period last year. The stock was down 1.46% at GBX 3,947.50 as of 1:39 pm GMT+1 on 23 August. It has depreciated by over 4.5% over the past 12 months. Its EPS currently stands at 2.33.

AstraZeneca Plc (LON: AZN)

The FTSE 100 listed pharmaceutical giant has a market cap of £177,261.59 million, and it has provided investors with a return of over 29% over the past year. At 1:42 pm GMT+1 on Tuesday, its shares were trading 1.54% lower at GBX 11,264.00. The company's EPS stands at 0.08, while its Relative Strength Indicator (RSI) stood at 49.90 as of 1:43 pm.

Note: The above content constitutes a very preliminary observation or view based on market trends and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.

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