Stocks to watch on 2 July: GSK, JD Sports, ITV, Glencore, Gym Group

These FTSE listed companies – GSK, ITV, Glencore, The Gym Group, JD Sports – are likely to remain in the limelight today.

  1. GlaxoSmithKline Plc (LON: GSK)

Elliott Management has demanded that GSK boss Dame Emma Walmsley should reapply for the post of CEO before the pharma giant’s demerger. Its consumer healthcare division would be separated next year. The New York hedge fund has given several recommendations for restoring GSK’s credibility. This was the first statement made by Elliott publicly since its investment.

The shares of the company closed at GBX 1,483 on 1 July.

  1. JD Sports Fashion Plc (LON:JD)

Bowing to criticisms over corporate governance, UK’s largest sportswear company has said it would split CEO Peter Cowgill's role as executive chairman. It would be hiring a separate chief executive by the next year. The company said that a comprehensive method to split the role would begin shortly.

The shares of the company closed at GBX 969 on 1 July.

  1. ITV Plc (LON: ITV)

The Digital, Culture, Media and Sport Committee chairman Julian Knight has said, the government was undertaking a consultation process to privatise Channel 4 and the options included merger plans with BBC Worldwide or ITV. Concerns of Channel 4’s ability to remain in competition due to streaming giants like Amazon Prime or Netflix have led to privatisation plans.

The shares of the company closed at GBX 128.95 on 1 July.

  1. The Gym Group Plc (LON: GYM)

The Gym Group hopes to raise £31 million from investors to fund its expansion plan of adding 40 new branches. It said that the new stores would hopefully be up and running in the next 18 months in a bid to take ahead its rapid expansion drive. The company said that the Covid-19 pandemic’s impact on the commercial property market had given a unique opportunity to acquire attractive sites at a good price.

The shares of the company closed at GBX 285 on 1 July.

  1. Glencore Plc (LON: GLEN)

Gary Nagle took over the charge of the mining giant. Investors are expecting that the change would allow the company to tackle an investigation by the US Department and Justice, thereby lifting the price of its share. Nagle, a South African accountant by profession, was at the helm of charges for the last two years at Glencore’s coal assets wing.

The shares of the company closed at GBX 310 on 1 July.

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