- BHP Group Plc could delist from the London Stock Exchange to simplify its dual-listing structure.
- Canadian Overseas Petroleum has announced readmission of stock for the trading in the standard segment of the London Stock Exchange.
The blue-chip index of the London Stock Exchange, FTSE100, which consist of the largest companies by market cap, could lose the metal and mining giant, BHP Group Plc, one of the top companies and second largest by market cap, having a weightage of around 2.6% in the index. BHP Group Plc wants to simplify the company’s dual-listing structure and plans to have only one primary listing on the Australian Securities Exchange (ASX).
The delisting of BHP Group Plc from the FTSE100 index could trigger sell-off in the BHP stock by the portfolio managers and Exchange-Traded Funds, who currently have holdings in the stock and track the benchmark index. It would be a big disappointment for the mining investors as the exit would result in major mining exposure reduction from the exchange.
Let us look at a few other FTSE listed stocks that are trending today and could be worth considering:
Canadian Overseas Petroleum Ltd (LON: COPL)
The company in the exploration and production of oil and natural gas blocks and has operations in the United States and Africa.
The company announced the readmission of stock for trading in the standard segment of the London Stock Exchange. The company’s total oil and gas production has increased significantly by 80% after 1 April 2021. The company’s management has a strong future outlook and expects oil production to increase due to a strong gas injection response.
Canadian Overseas Petroleum Ltd shares trade at GBX 0.42, up by 2.72% on 18 August at 8.40 GMT+1 with a market cap of £37.02 million.
AFC Energy Plc (LON: AFC)
The company is a leading provider of hydrogen fuel cell systems used in the generation of clean energy in the United Kingdom and Germany.
The company has achieved significant milestone along with its strategic partner ABB. The company’s hydrogen fuel cell system, which was under production for several months, has finally arrived at ABB’s Estonia-based high power electric vehicle charging system. AFC team is working closely with ABB, which is a leader in electrification technology, to finalise integration work with the ABB charging system.
AFC Energy Plc shares trade at GBX 58, down by 1.19% on 18 August at 8.40 GMT+1 with a market cap of £431.10 million.
Remote Monitored Systems Ltd (LON: RMS)
The company manufactures digital monitoring systems for rotating shafts in the United Kingdom and other European countries.
The company is focusing on readjusting its strategy as it looks to move away from the production of anti-viral masks, which had a high short-term demand during the pandemic period. As a result, the company is working on two new products and undertaking trials for the same through its wholly-owned subsidiary Pharm 2 Farm Ltd. The trials for the new liquid nutrients for plants and new foodstuff for monogastric animals are underway.
Remote Monitored Systems Ltd shares trade at GBX 0.65, up by 0.15% on 18 August at 8.40 GMT+1 with a market cap of £13.51 million.
Kanabo Group Plc (LON: KNB)
The company operates in the development of products that are derived from cannabis and are used to treat patients with CNC disorders. The company launched its first product for the UK market last month under the brand name NOIDECS.
Kanabo Group Plc announced the acquisition of Materia’s European business on 26 July 2021; its wholly owned subsidiary Materia Deutschland GmbH has entered into a distribution agreement with Eurox Pharma GmbH to sell medical cannabis extracts. The extracts are the fastest growing segment in Germany, with 62% quarterly growth at the start of this year. The acquisition of Materia’s European business is currently in the due diligence process, and work on reaching an agreement is in process.
Kanabo Group Plc shares trade at GBX 20.30, down by 5.14% on 18 August at 8.40 GMT+1 with a market cap of £78.95 million.