FRAS, NXT, MKS: Stocks to watch amid fall in consumer confidence

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FRAS, NXT, MKS: Stocks to watch amid fall in consumer confidence

 FRAS, NXT, MKS: Stocks to watch amid fall in consumer confidence
Image source: ©2022 Kalkine Media®

Highlights

•    The confidence level of UK consumers has fallen to its lowest level this month with the rising cost of living crisis.
•    The Consumer Confidence Index fell to -41 in June from -40 in May, which is a new record low. 

The confidence level of British consumers has fallen to a new low this month, a survey showed on Friday, after the inflation touched a new 40-year high of 9.1% in May. 

Confidence level among Britain’s consumers fell to the lowest level this month.

©2022 Kalkine Media®

Market research firm GfK said its long-running Consumer Confidence Index, which is being compiled since 1974, fell to -41 in June from -40 in May, a new low for the second consecutive month. All this was due to the rising inflation and the cost-of-living crisis as consumers are struggling with stagnant wages and recession fears. The purchasing power index was at -35, almost 30 points lower than the June 2021 figures.

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The index that measures confidence in personal finances in the last 12 months dropped by one point to -23 in June. Meanwhile, the personal financial situation in the next 12 months fell by 3 points to -28 in June. This was 39 points lower than what it was in June 2021.
The measure of the general economic situation in the next 12 months fell by 2 points to -65, 18 points lower than what it was in June 2021. While the general economic situation in the next 12 months dropped by 1 point to -57, 55 points lower than June 2021. 

According to recent data from the Office for National Statistics (ONS), retail sales fell by 0.5% in May, down from 0.7% estimates from the economists. It came after sales tumbled 1.6% across food stores. The UK statistics agency revealed a 1.1% jump in fuel sales in May and revised down sale growth in April. 
Let us take a look at 3 FTSE retail stocks that you may consider. 

1. Frasers Group Plc (LON: FRAS)

The shares of the UK-based retail and intellectual property group, Frasers Gruhoup Plc, were down by 0.31%, at 08:10 AM (GMT+1) on 24 June 2022, and were trading at GBX 642.00. The FTSE 250 company has provided its shareholders with a return of 7.93% over the past one year as of 24 June 2022, while its YTD return stands at -17.90%. Frasers Group’s current market cap stands at £3,071.71 million.

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2. Next Plc (LON: NXT)

The shares of the multinational clothing, footwear, and home products retailer, Next Plc were down by 2.48%, at 8:10 AM (GMT+1) on 24 June 2022, and were trading at GBX 5,732.00. The FTSE 100 company has provided its shareholders with a negative return of -26.28% over the past one year as of 24 June 2022, while its YTD return stands at -29.62%. Next Plc’s current market cap stands at £7,645.96 million.

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3. Marks And Spencer Group Plc (LON: MKS)

The shares of the multinational retailer, Marks and Spencer Group Plc, were down by 1.37% at 8:15 AM (GMT+1) on 24 June 2022 and were trading at GBX 137.15. The FTSE 250 company has provided its shareholders with a negative return of -11.02% over the past one year as of 24 June 2022, while its YTD return stands at -40.89%. Marks and Spencer Group Plc’s current market cap stands at £2,723.94 million.

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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