Polymetal (POLY), Playtech (PTEC) & AstraZeneca (AZN): 3 stocks to buy

Highlights

  • Investors and traders are still reluctant to take a big position in the market after last week’s status quo decision of Bank of England’s policy meet.
  • The UK will be declaring its third-quarter gross domestic product (GDP) data this week, which will guide the market movement.

The UK stock markets made a flat opening of the new week. Investors and traders are still reluctant to take a big position in the market and are recovering from last week’s status quo decision of Bank of England’s policy meet. Despite rising inflationary pressure, the central bank decided to keep the interest rate unchanged at its lowest level of 0.1%.

The UK will also be declaring its third-quarter gross domestic product (GDP) data this week by the Office for National Statistics. According to experts and media reports, the GDP data is estimated to be better, indicating recovery in the UK economy after the pandemic. Britain’s economy expanded at 5.5% in the second quarter of 2021, primarily due to higher household consumption.

The GDP data is crucial for the economy as the central bank frames its monetary policy based on the economic scenarios. Also, higher GDP growth attracts foreign investment in the country, which help domestic businesses to expand and indirectly have a positive impact on the stock market.

Stocks in focus

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Let us explore 3 FTSE listed stocks that are in focus today:

Polymetal International Plc (LON: POLY)

The company operates in the metal and mining segment and is engaged in the exploration and production of gold and silver through its mining assets in Kazakhstan and Russia.

The company’s board has approved the construction of the Veduga gold project located in the Krasnoyarsk Region in Russia. As per the estimate, the gold reserve at the site is expected to be around 31.9 Mt, with the first production planned in the second quarter of 2025.

The total CAPEX required for the project is estimated at USD 447 million, with an estimated project life of 10 years for open-pit mining and 12 years of underground mining. Also, the mining site will operate on hydropower which will ensure low carbon emissions and contribute to the company’s carbon reduction target.

Polymetal International Plc currently trades at GBX 1,385, up by 1.43% on 08 November 2021 at 11:03 am GMT+1 with a market cap of £6,466 million.

Playtech Plc (LON: PTEC)

The company operates in the casino and gambling segment providing its gambling software, technological services, and platforms to other companies from the sector.

The company has confirmed that it has received a preliminary takeover offer from its second-largest shareholder, Gopher Investments. The company currently has provided due diligence information to Gopher Investments, while the exact acquisition figures are yet to be announced. Playtech Plc’s board has previously recommended the acquisition of the company by Aristocrat for 680p per share in cash, valuing the company close to £2.1 billion.

Playtech Plc currently trades at GBX 725, up by 2.40% on 08 November 2021 at 11:03 am GMT+1 with a market cap of £2,169 million.

AstraZeneca Plc (LON: AZN)

The company operates in the pharmaceuticals segment and is engaged in the research and development of medicine to treat various diseases.

The company’s gastritis drug has received fast track designation from the USFDA (Food and Drug Administration). The company has been obtaining regulatory approvals for its different medicine before actual sales of the medicine.

Also, the company is currently developing a new treatment to fight the Covid-19 virus, and its clinical trials have shown positive results. In addition, the company continues to supply more doses of existing Covid-19 vaccines to different countries.

AstraZeneca Plc currently trades at GBX 9,379, up by 0.77% on 08 November 2021 at 11:03 am GMT+1 with a market cap of £144,210 million.

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