Argo Blockchain, Rolls-Royce, Quadrise & Horizonte: 4 FTSE stocks in focus

Highlights

  • The GfK consumer confidence dropped to -13 in September, the lowest level since April 2021.
  • Peoples’ confidence in the economic outlook declined mainly due to the rise in energy prices, which led to a rise in household energy bills and increased in food costs.
  • Argo Blockchain, Rolls-Royce, Quadrise Fuels, Horizonte Minerals are some of the stocks in focus.

Consumer Confidence in the UK has declined to its lowest levels since April 2021. The GfK consumer confidence dropped to -13 in September from -8 in the previous month. Peoples’ confidence in the economic outlook declined mainly due to the recent rise in energy prices, which led to a surge in household energy bills and increased food costs.

In addition, inflation in the UK rose to 3.2% last month to an over a nine-year high impacting consumer’s personal finance and the overall economy. The Bank of England has forecasted a further rise in inflation to over 4% by the end of the year.

Low consumer confidence along with high inflation might impact the UK economy and the stock market returns.

Let us look at the 4 FTSE listed stocks that are in focus today:

Argo Blockchain Plc (LON: ARB)

The company engages in cryptocurrencies mining, including Bitcoin. It uses custom made mining machines to executes the mining activities. The company’s stock is listed on London Stock Exchange and Nasdaq Global Market.

The company’s American Depositary Shares (ADS) has begun trading on Nasdaq Global Market under the ticker symbol “ARBK”. However, upon listing, the ADSs price witnessed a decline of over 23%. The company has raised a gross proceed of USD 112,500,000 through the offering of 7,500,000 ADSs at a price of USD 15 per ADS. Each ADS comprise 10 ordinary shares of Argo Blockchain.

Argo Blockchain Plc shares trade at GBX 132.50, down by 6.69% on 24 September at 8:45 am GMT+1 with a market cap of £542.20 million.

Rolls-Royce Holdings Plc (LON: RR.)

The company operates in the aerospace and defence sector. It specialises in the manufacturing of aero engines which it sells to commercial aircraft companies.

The company’s stock has seen a lot of buying interest from investors. The stock has been up by over 25% in the last two-month as investors anticipate a demand revival in the aerospace industry as the ease in travel restrictions for fully vaccinated travellers globally has increased travel demand.

The airlines industry is a major contributor to the company’s revenue and profitability. Also, the company has set a target to raise £2 billion through asset sales and disposals of businesses to help strengthen its balance sheet and return to the investment-grade credit profile.  

Rolls-Royce Holdings Plc shares trade at GBX 128.58, up by 1.29% on 24 September at 8:45 am GMT+1 with a market cap of £10,621 million.

Related Read: Rolls-Royce launches limited edition cars

Quadrise Fuels International Plc (LON: QFI)

The company manufactures and market the emulsion fuel used in the power generation industry, diesel engines and other industrial machines. The company uses in-house technology to produce emulsion fuel.

The company carried out the testing program at its Utah Project. The heavy sweet oil sample derived from the site confirmed the ability to produce MSAR® and bioMSAR™ fuel. The sample testing was conducted at Quadrise Research Facility in Essex. The fuel has application in the power and marine sector. Also, the commercial production of fuel in Utah will benefit the company.

Quadrise Fuels International Plc shares trade at GBX 4.19, up by 2.57% on 24 September at 8:45 am GMT+1 with a market cap of £57.47 million.

Horizonte Minerals Plc (LON: HZM)

The company focuses on the exploration and production of nickel metal through its mining project located in Brazil.

The company’s stock price has been up over 35% in the last two months. It recently received approval from two export credit agencies for USD 146.2 million senior secured debt facility. The funding will be used to develop the Araguaia ferro-nickel project. Investors anticipate the development of the nickel project will benefit the company to return to profitability.

Horizonte Minerals Plc shares trade at GBX 8.95, up by 0.56% on 24 September at 8:45 am GMT+1 with a market cap of £151.31 million.

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