3 FTSE financial stocks to buy today

Highlights 

• The rising inflation in the UK might push the central bank to hike interest rates to curb some inflationary pressure.
• Stocks like Lloyds Banking Group Plc, AJ Bell Plc, Barclays Plc are likely to be in focus ahead of the MPC’s policy meeting.

The Bank of England (BoE), in its last policy, meet on 4 November 2021 voted in favour to keep benchmark interest rates unchanged at record low levels of 0.1%. The central bank’s Monetary Policy Committee (MPC) will next meet on 16 December 2021. Although, the rising inflation number in the UK, which jumped to 4.2% in October 2021, might push the committee member to hike interest rates to curb some inflationary pressure in the country, there would be talks and consideration over the emergence of the new variant of the Coronavirus- Omicron as the rise in interest rates impacts the overall economy.

Banking and stock market-related business are likely to be in focus. Stocks like AJ Bell Plc, Lloyds Banking Group Plc, Barclays Plc should be on the investors’ radar ahead of the policy meeting.

© 2021 Kalkine Media

Lloyds Banking Group Plc (LON: LLOY)

The company provides various financial services to retail and institutional clients in the UK and other countries. The economic recovery in the UK has been reflected in the bank’s interim result. The lender reported a profit before tax of £5,103 million in the first nine months of 2021, a significant rise compared to profit before tax of £620 million during the same period last year. The net interest income, a key revenue stream for the bank, was at £8,249 million.

Lloyds Banking Group Plc currently trades at GBX 46.97, down by 1.51% on 02 December 2021 at 10:30 am GMT+1, with a market cap of £33,866 million.

AJ Bell Plc (LON: AJB)

FTSE250 listed company operates as an investment platform offering different investment products and services to its clients. The company has recently launched a new app-only investment platform, Dodl, which is very easy to use and charge zero commission to buy/sell the investment.

For the financial year ended 30 September 2021, the company reported strong new customers addition. The total customers were up by 87,449 to 382,754, while the customer retention rate remained high at 95%, resulting in a net inflow of £6.4 billion. The company reported a 15% growth in revenue at £145.8 million, while its profit before tax was up by 13% to £55.1 million. Following the business’s good performance, the company’s board has proposed a final dividend of 4.5p per share and a special dividend of 5p per share for its shareholders.

AJ Bell Plc currently trades at GBX 387.40, down by 1.97% on 02 December 2021 at 10:30 am GMT+1, with a market cap of £1,622.2 million.

Barclays Plc (LON: BARC)

The company provides retail banking and other financial services to its clients. It has business operations in many countries. The lender is expected to perform well in upcoming quarters amid the recovery in the UK economy. A possible interest rate hike in the UK may support the bank with an improvement in its net interest margin.

Barclays Plc currently trades at GBX 186.82, down by 1.51% on 02 December 2021 at 10:30 am GMT+1, with a market cap of £31,722 million.