Tullow Oil, M&G, GSTechnologies: Why are these stocks in news?  

Highlights

• The Russia-Ukraine crisis has impacted the global stock markets.
• The reshuffling of the FTSE indices, which takes place after every quarter, has got impacted due to the ongoing war situation.
• Tullow Oil may become a part of the FTSE 250 index.

Stock markets across the globe have been rattled due to the current geopolitical tensions. The Russia-Ukraine war has had a major impact on the London Stock Exchange (LSE) too, and on 4 March, the trading of Russian securities was barred from the LSE. The UK Government is retaliating against Russia’s aggression by imposing various types of sanctions on the country, and thus UK businesses are abandoning their Russia-related operations, which is impacting their financial position as well.

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The reshuffling of the FTSE indices, which takes place after every quarter, is also impacted due to the ongoing war situation. Major examples are two Russian mining companies, Evraz (LON: EVR) and Polymetal (LON: POLY), which are being demoted from the FTSE 100 index to the FTSE 250 index due to a significant fall in their values.

Various companies like Russian gold miner Petropavlovsk (LON: POG) and Cineworld (LON: CINE), which has cinema sites in Russia, are set to exit the FTSE 250 index. Tullow Oil (LON: TLW) is currently on the radar of investors as it is one of the companies anticipated to take the available positions on the FTSE 250 index after the reshuffling. Other companies, like M&G and GSTechnologies Ltd, are also in the spotlight due to their share buyback and acquisition, respectively.

Let’s look at the share price performance of the above-mentioned companies which have recently caught the attention of investors.

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Tullow Oil Plc (LON: TLW)

UK-based oil and gas explorer Tullow Oil Plc may become a part of the FTSE 250 index after the quarterly reshuffling takes place. Tullow Oil plc’s shares were trading at GBX 55.60, down by 10:67%, at 10:00 AM GMT on 9 March 2022.

With a current market cap of £892.52 million, the company has given a return of 12.02% to its shareholders over the last one year, while its year-to-date return stands at 27.58% as of 9 March 2022.

M&G plc (LON: MNG)

London-based investment manager, M&G plc, has recently announced its £500 million worth share buyback programme. M&G plc’s shares were trading at GBX 220.20, up by 7.36%, at 10:05 AM GMT on 9 March 2022.

With a current market cap of £5,332.41 million, the FTSE100-listed company has given a return of 7.55% to its shareholders over the last one year, while its year-to-date return stands at 10.43% as of 9 March 2022.

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GSTechnologies Ltd (LON: GST)

Australia-based tech firm GSTechnologies Ltd has successfully acquired Angra Ltd, which is a ForEx and payment services company based in the UK. GS Technologies Ltd’s shares were trading at GBX 1.60, down by 3.61%, at 10:21 AM GMT on 9 March 2022.

The current market cap of the company stands at £25.71 million as of March 9, 2022. The overall performance of the company has deteriorated and both its one-year return and year-to-date return as of 9 March are negative, standing at -33.68% and -30.63%, respectively.