- The UK stock market is trading in a tight range on the first day of the new trading week following the decline in UK business confidence.
- Business confidence in the country is at its lowest levels this year because of rising costs due to inflationary pressure and supply chain constraints.
- Avast Plc, Cineworld Group, Avon protection are some of the stocks that are the highfliers of the day.
The UK stock market is trading in a tight range-bound on the first day of the new trading week, reacting to the decline in the UK business confidence as per the latest business outlook report by Accenture/ IHS Markit.
Business confidence is at its lowest levels this year because of rising costs due to inflationary pressure and supply chain constraints. However, over 56% of the private sector firm are optimistic and anticipate increases in business activities in the upcoming months.
Though around 11% of the businesses also forecast a decline in business growth resulting in a net score of 45%.
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Let us look take a closer look at three FTSE listed stocks that are in focus today:
Avon protection Plc (LON: AVON)
The company operates in the protection segment, where it designs and manufactures personal protection systems like respiratory protection systems for defence, law enforcement, and the fire market.
The company operates through three key segments: respiratory protection, helmet products and body armour. Recently, the company carried out a strategic review of its body armour business segment. The body armour business has received a contract from the US defence for the supply of protective inserts and plates. However, the final product approvals are delayed, which is expected to complete by the second quarter of the financial year ending 30 September 2022.
Avon protection Plc currently trades at GBX 1,103, up by 18.86% on 15 November 2021 at 1:15 pm GMT+1 with a market cap of £287.90 million.
Cineworld Group Plc (LON: CINE)
The company operates in a chain of cinema sites under various brand names in the UK and the US markets. It is also involved in property leasing, ticket bookings, advertising, and other businesses.
The company reported a growth recovery in the four months to 31 October 2021, reporting business growth in all markets during the period. In addition, the company reported positive cashflow in October 2021, driven by higher revenue from ticket collection and regular movie releases. The UK and Ireland region reported 127% growth in box office and revenue in October 2021.
Cineworld Group Plc currently trades at GBX 68.96, up by 9.67% on 15 November 2021 at 1:15 pm GMT+1 with a market cap of £863.34 million.
Avast Plc (LON: AVST)
FTSE100 listed company operates in the technology segment offering digital security and privacy products. It operates under the Avast and AVG brand name. The company’s merger with US-based NortonLifeLock has met the regulatory condition. The £6.2 billion acquisition deal now needs to be approved by the Avast shareholders, which will be held on 18 November 2021. Also, the shareholders of NortonLifeLock have already approved the deal on 5 November 2021.
Avast Plc currently trades at GBX 598, up by 7.02% on 15 November 2021 at 1:15 pm GMT+1 with a market cap of £5,784 million.