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- According to market experts, inflation in September could surge further, primarily due to the energy crisis and supply chain disruption.
- THG Plc, Eqtec Plc and Valirx Plc are three FTSE stocks grabbing investors’ attention today.
The UK blue-chip index FTSE100 rose nearly 2% in the week ended 15 October. The market direction in the current week will be guided by the earnings of different companies and key economic data. The Consumer Price Index (CPI) for September month will be declared on Wednesday. The inflation rate in the UK jumped to 3.2% in August 2021, which is the highest level since 2012.
As per market experts, inflation in September could surge further primarily due to the energy crisis in the country as the shortage of truck drivers has led to an exponential rise in fuel prices. Also, the UK economy continues to face supply chain disruption, which is impacting food prices. The energy and food prices are an important constituent of the inflation basket and might drive the inflation number higher.
The rise in inflation above the central bank’s expected level of 4% might push the Bank of England to take actions like tapering of bond-buying program or increasing interest rate, which might impact the stock market.
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Let us look at 3 FTSE listed stocks THG Plc, Eqtec Plc and Valirx Plc: that are in focus today:
THG Plc (LON: THG)
The company operates in the consumer segment offering various nutrition and well-being products to its customers. It runs its operation through an e-commerce website retailing its own brands and third-party products to millions of customers.
As per some media reports, the company’s founder and chief executive, Matthew Moulding, is planning to reduce his stake in the company to rebuild shareholder confidence. At present, the chief executive has special status to reject any takeover bid for the next three years, impacting the investors’ confidence and preventing the company’s inclusion in the FTSE 100 or FTSE 250 index despite having a market cap of over £3.5 billion. By giving up the special status, the company could move to the premium segment of the London Stock Exchange.
THG Plc shares trade at GBX 306.80, up by 6.01% on 18 October at 8:15 am GMT+1 with a market cap of £3,518.2 million.
Eqtec Plc (LON: EQT)
FTSE AIM listed company operates in the alternative energy segment having expertise in producing clean energy using its proprietary gasification technology. The company can produce energy from 50 different types of feedstocks and has operations in various European countries.
The company operates in the niche segment of waste-to-clean energy production, one of the fastest-growing industries globally. The company has raised its stake to 49% in the North Fork project in California by making an additional investment of USD2.8 million. The 2 MWe project will convert forest waste into power and biochar by using the company’s gasification technology.
Eqtec Plc shares trade at GBX 1.25, down by 2.34% on 18 October at 8:15 am GMT+1 with a market cap of £109.61 million.
Valirx Plc (LON:VAL)
The company is involved in the development of pharmaceutical drugs for the treatment of cancer in the UK. It carries out various clinical trials to develop an anti-cancer therapeutic treatment for patients.
The company is currently in the research and development (R&D) phase conducting clinical trials to develop better treatment for cancer and women health. As a result, the company reported an R&D cost of £166,500 in its half-yearly report for the period ended 30 June 2021. Also, the company has signed an evaluation agreement with London university for a preclinical trial to study the effectiveness of its novel technology designed to treat breast cancer. The preclinical trials will be conducted over the next nine months, and the company will bear the expense.
Valirx Plc shares trade at GBX 45.75, up by 11.59% on 18 October at 8:15 am GMT+1 with a market cap of £26.67 million.
