NWG, EZJ, HAS: Why are these stocks in news today?

October 14, 2022 12:50 AM AEDT | By Abhishek Sharma

NWG, EZJ, HAS: Why are these stocks in news today? — Image source: © Solarseven | Megapixl.com

Highlights:

The UK market witnessed red on Thursday after the US inflation data was released.

Here's a look at some stocks that are in the news today.

The UK market tumbled on Thursday as investors digested the US inflation data for September. The latest Consumer Price Index (CPI) numbers for US inflation in September came out higher than expected at 8.2%, which raised concerns that the US Federal Reserve may now opt for another 0.75% hike in interest rates during its next meeting.

Let us explore a few London-listed stocks and see how they fared.

NatWest Group Plc (LON: NWG)

On Thursday, the leading British financial service provider NatWest Group plc announced that it would be shutting its 43 branches across the country. The move is aimed at transitioning to digital banking services. The latest wave of closures includes branches in Edinburgh, Glasgow and Aberdeen.

Regarding job cuts, the bank clarified that just six jobs are expected to be at risk as most of the branch staff will be offered a role at a different branch or are being transferred.

NatWest stressed that a majority of its banking services could be carried out online, adding that its vulnerable customers who cannot switch to online banking will be provided support.

Shares of NatWest soared nearly 7% and were trading at GBX 227.00 as of 2:11 pm GMT+1 on Thursday.

EasyJet Plc (LON: EZJ)

EasyJet is a British multinational budget airline. On Thursday, the FTSE 250 constituent released its trading update for the year ended 30 September 2022, warning of the third annual loss in a row. Blaming sector-wide disruption and a weaker pound against the US dollar, the airline said that it expects its pre-tax losses to be between £170 million and £190 million for the recently ended financial year.

However, this would be a slight improvement over the carrier's performance in the last two years, mainly because the COVID-19 pandemic had put restrictions on flights.

Image source: © Hugoht | Megapixl.com

Shares of EasyJet were 2.07% up at GBX 291.00 as of 2:17 pm GMT+1 on Thursday. The company currently has a market cap of £2,161.09 million, and its share price has more than halved in the past 12 months.

Hays Plc (LON: HAS)

The British multinational recruitment firm posted its quarterly numbers on Thursday for the three months ended 30 September 2022. The company's net quarterly fees rose 15%, which was also supported by a weaker pound as its fees from abroad went up when translated into sterling.

The latest numbers didn't significantly affect the FTSE 250 constituent's share price. As of 2:25 pm GMT+1, the shares were 0.19% up at GBX 103.40. The company has a market cap of £1,664.47 million, and its EPS stands at 0.09.

Note: The above content constitutes a very preliminary observation or view based on market trends and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.

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