TSCO, RMG, PSON, SSE: Should you buy these blue-chip shares today?

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TSCO, RMG, PSON, SSE: Should you buy these blue-chip shares today?

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 TSCO, RMG, PSON, SSE: Should you buy these blue-chip shares today?
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Highlights

  • The UK economy grew faster than previously expected in the last three months of 2021.
  • Crude prices fall as US president Joe Biden is expected to announce the release of 180m barrels of crude oil from the US strategic reserve.

The UK economy grew at a faster pace than previously expected in the last three months of 2021, when the country was facing an increase in Omicron cases, as per the latest release of the Office for National Statistics (ONS).

ONS, the official statistics body, said that the Gross Domestic Product (GDP) of the world’s fifth-largest economy increased by 1.3% in the fourth quarter, with growth now hovering just below pre-pandemic levels. It also said that the numbers are stronger than the previous forecast of 1.0%. However, consumer spending growth saw a slump to 0.5% from 1.2%.  

Reacting to the positive development, London’s blue-chip FTSE 100 index edged higher in the early trade of 31 March 2021. Also, crude prices fell as US president Joe Biden is expected to announce the release of 180m barrels of crude oil from the US strategic reserve.

Blue-Chip stocks in focus

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Let us look at four FTSE-100 listed blue-chip stocks that are in the spotlight today.

Tesco Plc (LON: TSCO)

The largest supermarket chain operator in the UK, Tesco Plc, has announced its plans to expand its free electric charging points to its 500 stores across the UK, which was launched in 2019.

It came after usage of the electric charging points surged by 300% over the past year. The other areas that have benefitted from improved charging access include Wirral, Southend-on-Sea, Port Talbot and Bolton.

With a market cap of £21,567.55 million, the FTSE 100-listed grocer’s share price has appreciated by 23.47% over the last one year as of 31 March 2022. Tesco Plc’s shares were trading at GBX 281.85, down by 0.35%, at 8:30 AM (GMT).

Related Read: What are the best performing FTSE-250 shares in last five years?

Royal Mail Plc (LON: RMG)

The multinational postal service and courier company Royal Mail Plc, has been warned by the union that the company could be hit by a strike after it revealed its plan to lay off around 1,000 managers and bring in lower rates of pay.

In a separate development, the postal service company has announced that it will allow customers to swap old stamps for its new barcoded stamps, which will also have new services and security features. The company has also rolled out its first fully automated parcel sorting machine in Wales, which is a part of an investment programme to replace significant manual sorting processes and make the process faster.

With a market cap of £3,303.65 million, the FTSE 100-listed postal service company’s share price has depreciated by 33.82% over the last one year as of 31 March 2022. Royal Mail Plc’s shares were trading at GBX344.30, up by 0.35%, at 8:30 AM (GMT) on 31 March 2022.

Pearson Plc (LON: PSON)

The multinational publishing and education company, Pearson Plc saw a slump in its share price after private equity firm Apollo Global Management Inc. said it is not planning to make an offer for the education publisher, as it could not reach an agreement on price.

The private equity firm can’t bid for the company for the next six months, after making its third bid to acquire Pearson at a revised takeover bid of 884.2p per share.

With a market cap of £5,597.74 million, the FTSE 100-listed postal service company’s share price has depreciated by 2.79% over the last one year as of 31 March 2022. Pearson Plc’s shares were trading at GBX755.80, up by 2.25%, at 8:30 AM (GMT) on 31 March 2022.

Related Read: LLOY, NBS, NWG: Should you hold these mortgage lenders?

SSE Plc (LON: SSE)

The multinational energy company, SSE Plc has recently raised its full-year guidance for the second time in two months. The company’s gas and hydro-power plants gained from volatility triggered by Russia-Ukraine crisis.

SSE expects its adjusted earnings per share to be in a range between 92 and 97 pence, up from its previous guidance of at least 90 pence, and it remains on track to report full-year 2021/22 capex in excess of £2 billion as it continues to execute its strategic £12.5 billion Net Zero Acceleration Programme. 

With a market cap of £18,689.21 million, the FTSE 100-listed energy company’s share price has appreciated by 22.20% over the last one year as of 31 March 2022. SSE Plc’s shares were trading at GBX1,754.50, up by 0.23%, at 8:30 AM (GMT) on 31 March 2022.

Note: The above content constitutes a very preliminary observation or view based on market trends and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.

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