3 blue-chip stocks to explore as UK households lose confidence in BoE

September 16, 2022 08:24 AM BST | By Rishika Raina
Follow us on Google News:

Highlights

  • Public satisfaction has hit a record low level, with a third of UK households disappointed with bank’s stance.
  • As per BoE’s survey results, the net satisfaction among the public was dragged down to -7% last month.
  • Since records began in 1999, the readings haven’t been this low.

With no sign of the cost-of-living crisis not slowing down, the UK households are losing confidence in the Bank of England (BoE). According to the official figures released on Thursday, the public's dissatisfaction regarding how BoE is handling the ongoing crisis is increasing. The central bank's survey uncovered that public satisfaction has hit a record low level, with a third of UK households disappointed with the bank's stance.

                                                        ©2022 Kalkine Media®

As per the survey results, the net satisfaction among the public was dragged down to -7% last month. Since records began in 1999, the readings haven't been this low. The only time this reading has been negative is the record low level of -3% hit in May. In the meantime, the public's expectations for price hikes over the upcoming year soared to a record high in August.

The data was released a week before the monetary policy meeting at Threadneedle Street, where the BoE is expected to hike the rates for the seventh month in a row as it seeks to curb inflation. The rates are expected to be lifted from the present 1.75% to control inflation, which was recorded as 9.9% last month. In the middle of these developments, investors may evaluate the performance of some of the UK blue-chip companies with some of the largest market capitalisations. 

Shell plc (LON: SHEL)

The market cap of the UK-based energy producing giant, Shell plc, stands at £167,384.59m as of 16 September. Having a low P/E ratio of 5.66, SHEL’s dividend yield presently stands at 3.6% on an annual basis. SHEL shares were trading at GBX 2,322.50, up by 0.35%, at around 8:00 AM (GMT+1) as the market opened on Friday. The EPS (earning per share) of the FTSE 100 firm stands at 2.59, and its returns on both YTD (year-to-date) and one-year basis as of 16 September stand at 56.79% and 42.71%, respectively.

AstraZeneca plc (LON: AZN)

The market cap of the prominent producer of pharma products, AstraZeneca plc, stands at £156,963.88m as of 16 September. The company's dividend yield offering on an annual basis presently stands at 2.5%. AZN shares were trading at GBX 10,220.00, up by 0.89%, at around 8:00 AM (GMT+1) as the market opened on Friday. The EPS of the FTSE 100 firm stands at 0.08, and its returns on both YTD and one-year basis as of 16 September stand at 24.68% and 16.73%, respectively.

HSBC Holdings Plc (LON: HSBA)

The market cap of one of the UK's big four banking groups, HSBC Holdings plc, stands at £105,770.70m as of 16 September. HSBA shares were trading at GBX 531.90, up by 0.42%, at around 8:00 AM (GMT+1) as the market opened on Friday. The EPS of the FTSE 100 firm stands at 0.62, and its returns on both YTD and one-year basis as of 16 September stand at 42.62% and 18.40%, respectively.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Limited, Company No. 12643132 (Kalkine Media, we or us) and is available for personal and non-commercial use only. Kalkine Media is an appointed representative of Kalkine Limited, who is authorized and regulated by the FCA (FRN: 579414). The non-personalised advice given by Kalkine Media through its Content does not in any way endorse or recommend individuals, investment products or services suitable for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a qualified financial planner and/or adviser. No liability is accepted by Kalkine Media or Kalkine Limited and/or any of its employees/officers, for any investment loss, or any other loss or detriment experienced by you for any investment decision, whether consequent to, or in any way related to this Content, the provision of which is a regulated activity. Kalkine Media does not intend to exclude any liability which is not permitted to be excluded under applicable law or regulation. Some of the Content on this website may be sponsored/non-sponsored, as applicable. However, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music/video that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music or video used in the Content unless stated otherwise. The images/music/video that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.



Top LSE Listed Companies