CSP, JET, RMG: Why are these stocks in news?

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CSP, JET, RMG: Why are these stocks in news?

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 CSP, JET, RMG: Why are these stocks in news?
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Highlights

  • Blue-chip FTSE 100 index touched its one-month high on Monday after easing of Covid restrictions in China boosted sentiments across Asian and European markets.
  • The prospect of a surge in demand for oil and gas after China relaxed Covid restrictions has pushed Brent oil futures prices to over US$116.12 per barrel.

The London Stock Exchange’s blue-chip FTSE 100 index touched its one-month high after easing of Covid restrictions in China boosted sentiments across Asian and European markets. At the time of writing, the FTSE 100 was up by 0.13% to 7,594.72, with a day’s high of 7,625.63, hitting its highest level since April 2022.

Last week the blue-chip index posted its biggest weekly gain since March.

©2022 Kalkine Media®

Last week the blue-chip index posted its biggest weekly gain since March this year. However, the prospect of an increase in demand for oil and gas after China relaxed Covid restrictions has pushed Brent oil futures prices to over US$116.12 per barrel. Whereas Crude oil WTI futures were trading at US$115.42.

This week’s meeting of OPEC+ oil ministers and a proposed ban on Russian oil by the European Union might further push the oil prices higher. Also, the recovery in risk appetite helped the largest cryptocurrency by market cap Bitcoin to gain above US$30,000 over the weekend.

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Let us look at 3 FTSE-listed stocks that are in the news. 

  1. Countryside Partnerships Plc (LON: CSP)

UK housebuilding and Urban regeneration company Countryside Partnerships Plc has been in the news after its shareholder US investment firm Inclusive Capital Partners (In-Cap), with a 9.2% stake, said it is considering a bid for the company after two previous approaches. The value of the business is expected to be around £1.47 billion.

The market cap of FTSE 250 listed housebuilder was £1,191.74 million and its shares were trading at GBX 300.00, up by 25.73%, at 9:35 AM (GMT+1) on 30 May 2022. Over the last one year, the company’s shares have depreciated, the value was -41.60%, as of 30 May 2022. 

Relaxation of Covid restrictions in China has pushed Brent oil prices to over US$116.12 per barrel

©2022 Kalkine Media®

  1. Just Eat Takeaway.com NV (LON: JET)

Leading global online food delivery company Just Eat Takeaway’s sale of Grubhub is under threat as bosses are preparing for a £5 billion write-down on the US business.  The online food delivery company purchased Grubhub in 2021 for US$7.3 billion but now is under pressure to sell or spin off Grubhub and explore options for the business. Over the last one year, the company’s share value has gone down, and the one-year return stood at -71.63%, as of 30 May 2022. 

The market cap of the food delivery company was £3,667.32 million and its shares were trading up at GBX 1,798.60, up by 5.43%, at 1 PM (GMT+1) on 30 May 2022.

Related Read: HWG, PCA, HRE: Housing stocks to explore amid rising prices

 

Royal Mail Plc (LON: RMG)

The multinational postal service and courier company is planning to boost its Sunday delivery service proposition tenfold amid an online shopping boom. It means that customers will not have to wait until after the weekend to receive parcels. The service is now available to over 12,000 of its online customers, a significant increase from the current 75 large online retailers. 

Royal Mail has also been accused of charging a hefty Brexit tax on items received from abroad and items that are exempted from such duties.

Over the last one year, the company’s share value has gone down, and the one-year return stood at -42.97%, as of 30 May 2022.  The market cap of FTSE 100 listed postal service company stands at £3,069.38 million and its shares were at GBX 327.10, up by 1.87%, at 1 PM (GMT+1) on 30 May 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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