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Summary
- BT Group’s shares rose by over 6 per cent on Thursday after French multinational telecom company Altice acquired a 12.1 per cent stake in the company for £2.2 billion.
- Auto Trader Group’s shares also jumped by over 6 per cent after reporting solid FY 2021 results and converting its net debt to a net cash position by the year end.
- Smith & Nephew’s shares rose by over 2 per cent after a rating upgrade.
Three FTSE 100 stocks from the telecom, technology and healthcare sectors outperformed the market on Thursday.
In this article, we take a closer look at why these FTSE 100 listed stocks were trending on Thursday:
- BT Group PLC (LON: BT.A)
FTSE 100 listed telecom giant BT Group’s shares jumped by over 6 per cent on Thursday after it announced billionaire Patrick Drahi owned French telecom company Altice had acquired a 12.1 per cent stake in the company. The investment was worth up to £2.2 billion and was based on BT’s Wednesday closing price.
Drahi said the investment was a sign of confidence in BT amid the UK government’s plans to roll out next generation fibre and broadband across the country. Altice also confirmed it did not plan to take over BT Group.
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BT’s shares closed at GBX 195.15, sharply up by 6.55 per cent on 10 June. At the same time, FTSE 100 closed at 7,088.18, up by just 0.10 per cent.
BT’s market cap was at £19.354 billion, and its year to date returns were at 47.56 per cent as of 10 June.
Also Read: FTSE 100 gains slightly as BT, AstraZeneca hand hold London equities
- Auto Traders Group (LON: AUTO)
Auto Traders Group is a digital automotive marketplace company and an FTSE 100 constituent. The group’s shares soared on Thursday following its announcement of FY 2021 results.
Its FY 2021 revenue was down by 29 per cent to £262.8 million. And its trade revenue was down by 31 per cent to £225.2 million due to offering free advertising to the company’s retailer customers in the months of April, May, December and February. And also offer a discounted rate in June.
However, it reported a strong net cash position of £15.7 million at year-end compared to net debt of £275.4 million in March 2020.
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AUTO’s shares closed at GBX 15.60, up by 6.54 per cent on 10 June. Meanwhile, the Software and Computing Sector index closed at 2,108.70, up by 0.74 per cent.
Its market cap was at £5.950 billion, and its year-to-date returns were at 3.29 per cent as of 10 June.
- Smith & Nephew PLC (LON: SN.)
FTSE 100 listed company, Smith & Nephew is a medical technology services company. The company’s shares rose after financial services and research company Credit Suisse gave it a positive recommendation on Thursday due to underappreciated growth drivers.
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SN’s shares closed at GBX 1,542.50, up by 2.42 per cent on 10 June. The Healthcare and Related Services Sector index closed at 7,745.38, up by 0.10 per cent.
Its market cap was at £13.560 billion, and its year-to-date returns were at 2.15 per cent as of 10 June.
Also Read: Focus on healthcare stocks in 2020: AZN, GSK, HIK, SN., and CTEC
