3 stocks that contributed the most in taking FTSE 100 to 20-month high - Kalkine Media

October 26, 2021 04:14 PM BST | By Sreenivas D Ajankar
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Highlights

  • FTSE 100 is currently trading at its highest levels since February 2020.
  • The benchmark index of the UK stock market has given a year-to-date return of 15.33%.

The blue-chip index of the UK stock market, FTSE 100, rose for the third consecutive trading session, adding 0.65% to reach over one and a half year high, the highest level since February 2020. The recent rally in the UK stock market is driven by budget expectations, which will be announced on Wednesday.

The upbeat market is has given positive returns to investors despite multiple crises like supply chain disruption and energy crisis etc. in the UK economy.

The benchmark index of the UK stock market, FTSE 100, has given a year-to-date return of 15.33%, while its last three months return is 4.02%. Let us explore the top three stocks that contributed the most in its rally of the last three months:

Meggitt Plc (LON: MGGT)

The company designs and manufactures equipment for the defence sector. It offers various protection and security devices.

The company’s stock has gained substantially in recent times due to its acquisition bids. The company received a £6.7bn takeover bid from the US-based Parker-Hannifin Corporation. The acquisition is yet to receive regulatory approval and is under review on the ground of national security. However, the company is positive about the outcome and expects the takeover to be completed by the third quarter of 2022.

Meggitt Plc’s current market cap stands at £5,849.6 million. In the last three months, the stock has given a 64.66% return to its shareholders.

Rolls-Royce Holdings Plc (LON: RR.)

The company is into aerospace and defence segment offering airlines engines to commercial airline companies.

The company’s stock has seen a lot of buying interest after the company, in its interim result, announced the restructuring and disposal programme to raise proceeds of at least £2 billion. After the announcement, the company has sold its stake in two of its businesses and progressing well to achieve its target to raise £2 billion.

Also, ease in travel restrictions and rising vaccinations boosted investor confidence in the stock as the airlines segment contributes a major part of the company revenue.

Rolls-Royce Holdings Plc’s current market cap stands at £11,090 million. In the last three months, the stock has given a 34.87% return to its shareholders.

Royal Dutch Shell Plc (LON: RDSB)

The company operates in the oil and gas sector. It is present in every stage of the oil and gas sector, from exploration to production, as well as retailing of fuel through service stations.

The company’s stock has consistently gained in line with the rise in the oil and gas prices in the international market. It is one of the largest oil and gas companies in the world, having high production output through its various oil and gas projects.

High oil and gas prices are beneficial for the company as it increases its realised profits, revenue and profit margins.

Royal Dutch Shell Plc’s current market cap stands at £65,042 million for the class B shares. In the last three months, the class B shares have given a 29.67% return to its shareholders.


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