Highlights
- The UK stock market has turned volatile following reports of the rapid spread of a new variant of coronavirus, Omicron.
- In the current circumstances, any negative news regarding the new coronavirus variant might trigger a decline in the market.
The UK stock market has turned volatile, and after witnessing the biggest fall in the last 18 months on Friday following reports of the rapid spread of a new variant of coronavirus, Omicron, which was first detected in South Africa, it once again ended lower by over half a per cent on Tuesday.
Researchers and scientists are still studying the new strain of coronavirus, and as per early signs and reports, the new variant might not be that dangerous. However, the market sentiment remains highly fragile, and any negative news on the new variant might trigger a decline in the market.
Let us look at the three FTSE listed stocks that had been buzzing of late and should be on the investor’s radar in the current market scenario:
JD Sports Fashion Plc (LON: JD.)
FTSE100 listed company operates in the retail segment offering fashionwear, accessories, and sports apparel. It has over 2,500 retail stores in more than 16 different countries.
The stock price of the company traded in a new price band on Tuesday after the dealings in company’s new ordinary shares started on 30 November after the stock split. The company decided to split each share of 0.25p into five shares of 0.05p, resulting in a significant drop in the per-share value of the company’s stock. However, the overall value of the company remained the same. The company generally choose to go for a stock split to increase retail participation and liquidity in stocks.
The company also saw some changes in its management team. Heather Jackson, who was associated with the company for more than six years, has stepped down as Non-Executive Director of the company from 29 November 2021. Mahbobeh Sabetnia has been appointed as the new Non-Executive Director, who has previously worked with Mars Inc, HSBC Holdings Plc.
JD Sports Fashion Plc’s last close was at GBX 222.90 on 30 November 2021, with a market cap of £11,497 million.
Kingfisher Plc (LON: KGF)
The company offers home improvement products to its consumers through its network of over 1300 stores and e-commerce websites. It has operations in more than eight countries and operates under different brand names.
During the three months to 31 October 2021, the company’s business reported improved performance and is growing steadily. The overall revenue was £3,246 million, mainly due to continued gain in market share and good management of product inventory, logistics and inflation pressure. The company had an excellent start to the fourth quarter and is on track to deliver full-year adjusted pretax profits in the range of £910 to £950 million.
Kingfisher Plc’s last close was at GBX 316.80 on 30 November 2021, with a market cap of £6,612.6 million.
Melrose Industries Plc (LON: MRO)
The company operates in the diversified industry segment offering its services to the aerospace, automotive and other companies.
The company’s business reported improvement in revenue in the three months to 30 September 2021. Its aerospace business reported a 16% rise in revenue during the period, while the demand from the automotive sector was strong despite global supply chain issues faced by the sector.
Melrose Industries Plc’s last close was at GBX 145 on 30 November 2021, with a market cap of £6,340 million
Comment