Stocks to keep a close eye as DWP releases payments to over 7.2 million

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 Stocks to keep a close eye as DWP releases payments to over 7.2 million
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Highlights

  • The DWP has announced that more than 7.2 million cost-of-living payment of £326 has been made as part of former chancellor Rishi Sunak's support package to help to struggle low-income households.
  • The eligible households for the cost-of-living support will not have to apply or contact the government, as the HMRC and DWP have identified them, and the payment will be made automatically.

The Department for Work and Pensions (DWP) has announced that more than 7.2 million cost-of-living payment of £326 has been made a part of former chancellor Rishi Sunak's support package to help already struggling low-income households to pay energy and food bills. A second installment of £324 will be paid later in the autumn.

A total of £2.4 billion has been paid to low-income households across the UK, with £1,200 this year including the separate payment of a £400 grant to help energy customers with their bills, £300 for pensioners, and £150 extra as disability payments coming later this year.

The month of July will see the citizens who are claiming the Child Tax Credits or Working Tax with DWP benefits receive cash support. However, those who are seeking income top-ups from HM Revenue and Customs (HMRC), will have to wait till autumn for their payments.

The eligible households for the cost-of-living support will not have to apply or contact the government, as the HMRC and DWP have identified them, and the payment will be made automatically.

Let's explore three FTSE stocks worth keeping an eye on. 

Diversified Energy Company Plc (LON: DEC

The British FTSE 250-listed independent energy company's market cap stood at £970.95 million as of 22 July. DEC primarily is an independent owner and operator of producing natural gas and oil wells. At 11:30 AM (GMT+1), its shares were trading at GBX 114.00, down by 0.09%. Diversified Energy Company's Earning Per Share (EPS) stood at -0.03, with YTD returns at 9.29%.

GlaxoSmithKline Plc (LON: GSK)

The FTSE 100 listed Pharmaceutical and Biotechnological company's market cap stood at £71,048.51 million as of 22 July. At 11:45 AM (GMT+1), its shares were trading at GBX 1,760.20, up by 0.77%. GlaxoSmithKline's Earning Per Share (EPS) stands at 0.88, with one-year and YTD returns at 24.56% and 9.61%, respectively.  

Unilever Plc (LON: ULVR

The FTSE 100 listed multinational fast-moving consumer goods provider's market cap stands at £99,134.32 million as of 22 July. The company operates through three segments: Beauty & Personal Care, Home Care, and Foods & Refreshments. At 11:55 AM (GMT+1), its shares were trading at GBX 3,916.00, up by 0.69%. Unilever's Earning Per Share (EPS) stands at 2.33, with one-year and YTD returns at -0.79% and -9.03%, respectively.  

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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