Why were Burberry Group, Coca Cola HBC and Rolls Royce trending today?

Summary

  • Luxury fashion company Burberry’s shares surged after French brokerage firm Exane BNP Paribas upgraded its rating.
  • Bottle maker Coca Cola HBC jumped after its stock price target was raised by research company JP Morgan.
  • Luxury car maker Rolls Royce shares jumped after reports emerged of it planning an electric vehicle, just days after it unveiled the world’s most expensive car Boat Tail

The key index on the LSE, the FTSE 100 was traded in the green for most part of the first half before slipping in the red by mid-day dragged by housebuilder stocks due to mortgage data.

However, FTSE 100 listed fashion giant Burberry, beverage company Coca Cola HBC and aerospace company Rolls Royce shares were market movers during today’s trading.

In this article we would try to explore these three FTSE 100 listed stocks:

  1. Burberry Group PLC (LON: BRBY)

British luxury fashion giant Burberry is a blu-chip company, whose shares jumped by over 4 per cent during Wednesday’s trading session after France based brokerage firm Exane BNP Paribas changed its rating to outperform.

(Image Source: Refinitiv)

BRBY’s shares were up sharply by 4.08 at GBX 2,194.00, while the FTSE 100 broader market index stood at 7,085.06, up by 0.07 per cent on 2 June at 14:15 HRS GMT+1.

Also, the company’s market cap stood at £8.534 billion and its 1-year return was at 45.15 per cent. Its price to earnings ratio in FY 2020 was at 46.78.

  1. Coca Cola HBC AG (LON: CCH)

Another FTSE 100 constituent Coca Cola is the third largest bottler for the Coca Cola company and is a part of the beverages sector in the FTSE. The company’s shares were boosted after investment bank and financial research firm JP Morgan kept its rating to overweight for the bottle maker.

CCH had also announced on 1 June the issue of 92,918 fully paid ordinary shares of CHF 6.70 each. And had also recently announced a partnership with SaaS-based technology company Blue Yonder to support its 24/7 supply chain and product portfolio.

(Image Source: Refinitiv)

CCH’s shares were up by 2.14 per cent to GBX 2,624.00, while the Beverages Market sector index stood at 26,920.42, up by 0.90 per cent on 2 June at 13:18 HRS GMT+1.

The company’s market cap stood at £9.367 billion and its 1-year return was at 27.09 per cent. CCH’s price to earnings ratio in FY 2020 was at 23.14.

  1. Rolls Royce Holdings PLC

Another FTSE 100 listed company Roll Royce is a luxury car maker and jet engine maker. The company’s shares soared by over 3 per cent during trading today after reports emerged that the car maker is planning an all-electric vehicle. Reports suggest it will be launched within this decade and is currently under development.

Rolls Royce had announced its plans to make an EV model in 2017, and its parent company BMW (ETR: BMW) had also filed a patent for the EV car name as Silent Shadow in 2020.

The report comes just days after the company unveiled the world’s most expensive new car the Boat Tail convertible priced at a whopping £20million.

(Image Source: Refinitiv)

RR’s shares were higher by 3.07 per cent to GBX 122.28, while the aerospace sector index stood at 3,824.92, up by 0.70 per cent on 2 June at 13:22 HRS GMT+1.

The company’s market cap stood at £9.115 billion and its 1-year return was at 17.38 per cent. 

Also Read: Rolls-Royce’ New Offering: Boat Tail Car Exclusively For 3 High-Net Worth Individuals 

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