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Highlights
- The UK’s blue-chip FTSE 100 index and the European stock markets were trading in the negative territory prior to a major meeting of the European Central Bank regarding interest rate hikes.
- While the FTSE 100 was down for the third consecutive session on Thursday, the only sector which didn’t plunge was energy.
- So far in 2022, the UK’s energy stocks have outperformed the market, going up by 63% amid surging commodity prices.
The UK’s blue-chip FTSE 100 index and the European stock markets were trading in the negative territory prior to a major meeting of the European Central Bank to be held later on Thursday, regarding interest rate hikes. Amid the fear of a further rise in interest rates, the FTSE 100 index lost over half a per cent on Thursday. At around 9:45 AM (GMT+1) on 9 June, the index was down by 0.54%.
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The FTSE 100 was down for the third consecutive session on Thursday. The only sector which didn’t plunge was energy. Stocks in the UK’s energy sector were trading in the positive territory with crude prices hitting the roof. Additionally, exports from China have surged in May after the easing of Covid-related restrictions. Even though this has improved the global trade outlook, the fears of a wider slowdown still persist.
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So far in 2022, the UK’s energy stocks have outperformed the market, going up by 63% amid surging commodity prices. However, the UK economy is headed towards a slowdown as other sectors are tumbling. Last month, the UK’s housing market growth also slowed down amid rising inflationary pressures and interest rates.
As the monetary policy is tightening further, investors are exploring investment options to maximise their gains.
Let’s look at the share price performance of 3 UK energy stocks that have performed well this year.
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Hunting plc (LON: HTG)
The shares of the leading global energy services provider, Hunting plc, were down by 0.98% at around 12:00 PM (GMT+1) on 9 June 2022, at GBX 353.00. On a year-to-date basis, the company has given its shareholders a significant return of 108.63% as of 9 June 2022, while its one-year return stands at 36.56%. The company’s current market cap stands at £588.01 million.
© 2022 Kalkine Media®
EnQuest plc (LON: ENQ)
The shares of the British petroleum explorer and producer, EnQuest plc, were down by 0.68% at around 12:00 PM (GMT+1) on 9 June 2022, at GBX 29.15. On a year-to-date basis, the company has given its shareholders a significant return of 55.98% as of 9 June 2022, while its one-year return stands at 54.38%. The company’s current market cap stands at £553.52 million.
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Energean plc (LON: ENOG)
The shares of the global hydrocarbon explorer and producer, Energean plc, were up by 0.15% at around 12:00 PM (GMT+1) on 9 June 2022, at GBX 1,330.00. On a year-to-date basis, the FTSE 250 company has given its shareholders a significant return of 55.56% as of 9 June 2022, while its one-year return stands at 66.25%. The company’s current market cap stands at £2,364.38 million.
