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Highlights
- There are concerns over the further rise in interest rates by the Bank of England this year.
- The city economists are revising forecast for the UK amid £15 billion support package announced by the Boris Johnson’s government.
The FTSE 100 in a kneejerk reaction fell 2% early on Friday after Chancellor Rishi Sunak tabled his £15 billion support package to fight the cost-of-living crisis, though it recovered in the final hours. There is a buzz that the Bank of England will further raise interest rates in the next few months in order to offset the sharply rising inflation.
©2022 Kalkine Media®
City economists are revising forecasts for the UK economy amid the £15 billion support package to help households in these challenging times. However, the Central for Economics and Business Research (CEBR) has warned that the £400 energy bill credit announced for UK households could push the inflation even higher.
Let us look at 3 FTSE-listed stocks that are in the news.
- EasyJet Plc (LON: EZJ)
EasyJet is a multinational low-cost airline group, with a market cap of £3,976.52 million, as of 27 May 2022. The company was in the news after thousands of passengers had to cancel and delay their flights after a huge IT failure.
The FTSE 250-listed company shares were up by 0.08% and were trading at GBX 525.00 around 9:20 AM (GMT+1) on 27 May 2022. The share value has gone down in the last one year and has given a return of -46.80%, as of 27 May 2022.
Related read: SBRY, MKS, OCDO: Stocks to eye ahead of Platinum Jubilee celebrations
- BT Group Plc (LON: BT.A)
BT Group Plc is one of the leading telecommunication companies, with a market cap of £18,419.55 million, as of 30 May 2022. The company was in the news after UK Business Secretary Kwasi Kwarteng flagged concerns about telecom tycoon Patrick Drahi raising his stake in the telecoms company to 18%. Drahi owns Altice.
The FTSE 100-listed company shares were down by 0.14% and were hovering at GBX 185.30 around 9:20 AM (GMT+1) on 27 May 2022. It has given decent returns of 5.19% over the last one year to its shareholders, as of 27 May 2022.
©2022 Kalkine Media®
- Ted Baker Plc (LON: TED)
Ted Baker is a UK-based high-street clothing retail company, with a market cap of £258.46 million, as of 27 May 2022. The company has reported a 20.5% increase in revenue of £428.2 million by January 2022, as compared to £355.3 million in January 2021. Its pre-tax loss decreased by 59.1% to £44.1 million, as compared to £107.7 million in 2021.
The FTSE All-share listed company shares were down by 3.00% and were trading at GBX 135.80 around 9:20 AM (GMT+1) on 27 May 2022. Its share value depreciated in the last one year. The shareholders got a negative return of 21.61%, as of 27 May 2022.
Related Read: DEC, IMB, AAL: Dividend stocks to watch in June amid stagflation concerns
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.
