Why Did These 3 Stocks Were Trending on Tuesday on the LSE?

Summary

  • BP Plc was reportedly planning to bid in the forthcoming auction of Crown Estate Scotland.
  • Ferrexpo, one of the largest exporters of iron ore pellets, would be getting energy-saving solutions from The Weir Group.

 

The FTSE 100 index reached the 7,000 mark on Tuesday morning. The day was marked with considerable buzz around a super cycle in the commodities markets. Analysts said that investors would gain from the FTSE favouring big mining and commodities firms. Palladium and iron ore reached record highs, along with wheat, dairy, and sugar and timber.

The commodities markets are set to gain from huge investments in the green technology sector pushing up demand of metals, booming Chinese economy, and countries spending a lot of money to boost their respective economies post lockdowns.

In this article, we will take a look at four stocks, which were trending today at London Stock Exchange:

BP Plc (LON: BP.)

The shares gained on reports that the company was planning to bid for construction rights for wind farms off Scotland. The Times reported that the company’s CEO Bernard Looney has said that it is planning to bid in the upcoming Crown Estate Scotland auction to build offshore wind projects. The shares of the company rose 2.31 per cent and were trading at GBX 310 on 4 May at 14:19 GMT+1.

Ferrexpo Plc (LON: FXPO)

Ferrexpo, one of the largest exporters of iron ore pellets, has signed a deal worth £36 million, under which it would be getting energy-saving solutions from the Weir Group. The deal is expected to reduce use of energy by over 40 per cent and would cut down carbon emissions substantially through high-pressure grinding rolls of Weir. Ferrexpo’s interim CEO Jim North said that the company was looking forward to its partnership with Weir Group and was hopeful that the high-pressure grinding rolls would serve as a great example of modern technology to help its business grow. The stock was up 1.32 per cent and was trading at GBX 444.60 on 4 May at 14:51 GMT+1.

Quadrise Fuels International Plc (LON: QFI)

The stock of Quadrise gained as much as 13.00 per cent and was trading at GBX 6.20 on 4 May at 14:53 GMT+1. The stock soared following the removal of a stock overhang.

In February, the company had announced that convertible securities worth £537,500 would be converted to normal shares worth 3.2 pence. On Tuesday, the conversion was completed and the company issued around 16.8 million shares, stating that now there remain no outstanding under the Convertible Security.


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