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Highlights
- The latest study has shown that Paris has overtaken London as the biggest stock market in Europe.
- As per Bloomberg, the UK economy has been spiralling downwards due to various factors hitting the country simultaneously, including inflation and uncertainty.
Amid the growing recession fears, London has been overtaken by Paris as the biggest stock market in Europe, and the latest study has shown. According to Bloomberg’s fresh data, the combined value of the UK stock market is around US$2.821 trillion, while the French stock market is worth about US$2.823 trillion altogether.
Paris had surpassed London by a slight margin now, however, the situation was different five years ago during Brexit when City stocks were valued at about US$1.5 trillion more than France. Michael Saunders, previously a policymaker at the Bank of England, has reportedly said that Brexit has driven the UK economy towards a permanently damaged state by slashing the country’s prospective output and reducing the investments being channelled towards its businesses.
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As per Bloomberg, the UK economy has been spiralling downwards due to various factors hitting the country simultaneously, including rising inflationary pressures, soaring energy costs, and growing market uncertainty. The worst hit businesses amid the worsening economic setup of smaller and consumer-centred companies. Overall, the combined value of the companies listed in the UK is being pulled down.
While luxury retail in France is getting a post-pandemic boost, big FTSE100-listed retailers in the UK have experienced a drop in their share values over the year. Sports retailers like JD Sports saw a fall of over 40% throughout the year. Amid all this, let’s look at a few sports-related stocks trading on the London Stock Exchange.
JD Sports Fashion plc (LON: JD.)
JD Sports Fashion plc is the UK’s leading sports fashion retailer, which has given returns of -48.56% and -45.09% on a one-year and YTD (year to date) basis as of 15 November, respectively. With the market opening on Tuesday at around 8:00 AM (GMT), JD. shares experienced a hike of 1.13% and were trading at GBX 120.95. JD.’s EPS at the time of writing stood at 0.07, while its market cap stood at £6,169.13 million. The company had a turnover of £333,515.77.
Frasers Group plc (LON: FRAS)
Frasers Group plc, best known for its Sports Direct brand, has given returns of 16.42% and -2.53% on a one-year and YTD basis as of 15 November, respectively. With the market opening on Tuesday at around 8:00 AM (GMT), FRAS shares experienced a hike of 0.13% and were trading at GBX 790.50. The company’s EPS at the time of writing stood at -0.17, while its market cap stood at £3,769.67 million. The company had a turnover of £70,781.39.
Entain plc (LON: ENT)
Entain plc, a globally operating sports betting and gambling business, has given returns of -32.19% and -19.52% on a one-year and YTD basis as of 15 November, respectively. With the market opening on Tuesday at around 8:00 AM (GMT), ENT shares experienced a hike of 0.30% and were trading at GBX 1,354.00. The company’s EPS at the time of writing stood at -0.26, while its market cap stood at £7,949.47 million. The company had a turnover of £280,194.08.
