Why Stocks of Argo Blockchain, Amigo, Lloyds, Scottish Mortgage and Vodafone Were In Demand?

Summary

  • Argo Blockchain joined a newly formed Bitcoin Mining Council to address ESG issues
  • Amigo Holdings rebounded on Wednesday after its shares fell sharply due to courts rejection of redress program
  • Lloyds struck a new deal with scientific instruments investor Judges Scientific

UK stocks across the cryptocurrency, FTSE 100 blue-chip banking and financial services sector and FTSE 100 listed telecom industries trended on 26 May due to various factors, with some stocks gathering investors’ attention.

Here we will try to explore the reasons for increased buying activities in these five counters: Argo Blockchain PLC, Amigo Holdings PLC, Lloyds Banking Group Plc, Scottish Mortgage Investment Trust PLC and Vodafone Group PLC.

  1. Argo Blockchain PLC (LON: ARB)

Blockchain technology major Argo Blockchain announced on 26 May it had joined the Bitcoin Mining Council (BMC). The BMC is an organisation aimed at aiding in sustainable mining practices, enhance energy transparency and other environmental social and governance (ESG) issues for North American miners.

(Image Source: Refinitiv)

ARB’s shares closed at GBX 140.00, down by 4.76 per cent on 26 May. The shares were up by 2.04 per cent at GBX 150.00, with volume traded of 1,803,023 shares as of 10:50 AM GMT +1 on 27 May.

Also Read: What significant factors led Argo Blockchain to deliver mining revenue growth during 

  1. Amigo Holdings PLC (LON: AMGO)

UK-based guarantor loans lender Amigo Holdings shares rebounded on Wednesday after the stock fell 55 per cent on 25 May due to UK courts rejected its redress program earlier this week.

It also notified of MIC Capital Partners’ major holdings with total voting rights attached to

shares and total voting rights through financial instruments at 3.743552 per cent.

(Image Source: Refinitiv)

AMGO’s shares closed at GBX 9.38, up by 12.68 per cent, while the FTSE All Share index closed at 4,015.75, up by 0.15 per cent on 26 May. The shares were down by 1.33 per cent at GBX 9.25, with volume traded of 6,123,739 shares as of 10:48 AM GMT +1 on 27 May.

Also Read: Amigo Shares Plunge After The Subprime Lender Uncovers Sale Plans

  1. Lloyds Banking Group Plc (LON: LLOY)

FTSE 100 listed banking major Lloyds Group entered into a new banking facilities service with scientific instrument investor Judges Scientific on 26 May, worth up to £60 million. The service replaced a prior arrangement which was worth up to £35 million.

(Image Source: Refinitiv)

LLOY’s shares closed at GBX 48.42, down by 1.33 per cent, while the FTSE 100 index closed at 7,026.93, down by 0.04 per cent on 26 May. The shares were up 0.73 per cent at GBX 48.77, with a volume traded of 25,133,271 shares as of 10:46 AM GMT +1 on 27 May.

  1. Scottish Mortgage Investment Trust PLC (LON: SMT)

FTSE 100 listed financial services company Scottish Mortgage, which is also a big investor in Silicon Valley, trended on Wednesday. The trust had announced its Cum Par net asset value (NAV) at 1216.11 pence per share and its Cum Fair NAV 1210.57 pence per share.

(Image Source: Refinitiv)

SMT’s shares closed at GBX 1,172.50, up by 0.21 per cent on 26 May. The shares were down 0.09 per cent at GBX 1,171.50, with volume traded of 558,531 shares as of 10:45 AM GMT +1 on 27 May.

  1. Vodafone Group PLC (LON: VOD)

Telecom major and FTSE 100 constituent Vodafone Group announced transaction in own shares on Wednesday as part of its buyback program. It purchased 5,707,175 shares at a volume weighted average price paid of 127.11 pence per share.

Vodafone’s expansion plans into Ethiopia was paused after US state development agency’s investments were put on hold on 24 May.

(Image Source: Refinitiv)

VOD’s shares closed at GBX 126.98, down by 0.72 per cent on 26 May. The shares were up 0.52 per cent at GBX 127.64, with a volume traded of 12,758,783 shares as of 10:43 AM GMT +1 on 27 May.

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