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    CMCX   GB00B14SKR37

CMC MARKETS PLC

(CMCX)
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Real-time Estimate Cboe Europe  -  04:17 2022-08-08 am EDT
244.00 GBX   -0.81%
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Commodity stocks drive FTSE 100 to fifth straight week of gains

04/08/2022 | 04:51am EDT
FILE PHOTO: Signage is seen outside the entrance of the London Stock Exchange in London

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

* Oil & gas, bank stocks power FTSE 100 higher

* Miner Ferrexpo top boost to midcap index

* FTSE 100 up 1.6%, FTSE 250 adds 0.7%

April 8 (Reuters) - Britain's top equity index closed at a eight-week high on Friday, lifted by commodity and banking stocks at the end of a volatile week that saw concerns about higher U.S. interest rates and the Ukraine conflict rattle investors.

The blue-chip FTSE 100 gained 1.6% to touch its highest since Feb. 11, with oil majors BP, Shell and miner Anglo American rising between 3.7% and 4.8%.

"The make-up of the FTSE 100 is the biggest reason why the market is outperforming," said Maarten Geerdink, head of European equities at NN Investment Partners.

"We've a very different landscape for commodities at this time ... and the natural reaction from equity investors is if you want to hedge yourself against inflation, you want to buy into commodity exposure."

The FTSE 100 logged its fifth straight weekly gain, and is up 3.7% so far this year due to its heavy weighting in energy and mining companies, which have benefited from a sharp rally in oil and metal prices.

Still, defensive sectors such as pharmaceuticals and utilities boosted markets this week as investors played safe amid concerns about the Russia-Ukraine conflict and prospects of rapid policy tightening by global central banks to tame inflation.

The European Union adopted its fifth package of sanctions against Russia, including bans on the import of coal, wood, chemicals and other products. Britain added Russian President Vladimir Putin's daughters to its sanctions list.

The domestically-focused midcap FTSE 250 index closed up 0.7%, but still logged a weekly fall.

AstraZeneca gained 2.5% to hit a record high after Credit Suisse raised its price target on the drugmaker's stock.

Ukraine-focussed miner Ferrexpo jumped 10.8% after it said it was able to sell most of the iron ore pellets produced in the first quarter.

Online trading platform CMC Markets climbed 12.8% after its fourth-quarter trading update, while paper and packaging group Mondi slipped 0.9% after Morgan Stanley downgraded the stock to "equal-weight." (Reporting by Sruthi Shankar and Devik Jain in Bengaluru; Editing by Arun Koyyur, Subhranshu Sahu and Pravin Char)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ASTRAZENECA PLC -0.64% 10793.73 Delayed Quote.25.21%
CMC MARKETS PLC -1.02% 243.5 Delayed Quote.-6.64%
FERREXPO PLC -2.87% 144.5236 Delayed Quote.-50.30%
FTSE 100 0.44% 7468.56 Delayed Quote.0.75%
FTSE MID 250 INDEX 0.07% 20062.57 Delayed Quote.-14.60%
SHELL PLC 0.74% 2163.5 Delayed Quote.32.57%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) -0.54% 60.7 Delayed Quote.-18.87%
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Financials
Sales 2023 297 M 357 M 357 M
Net income 2023 50,4 M 60,7 M 60,7 M
Net cash 2023 203 M 245 M 245 M
P/E ratio 2023 13,8x
Yield 2023 3,97%
Capitalization 697 M 839 M 839 M
EV / Sales 2023 1,66x
EV / Sales 2024 1,71x
Nbr of Employees 923
Free-Float 36,3%
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Technical analysis trends CMC MARKETS PLC
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Mean consensus OUTPERFORM
Number of Analysts 6
Last Close Price 246,00 GBX
Average target price 321,50 GBX
Spread / Average Target 30,7%
EPS Revisions
Managers and Directors
Peter Andrew Cruddas Chief Executive Officer & Executive Director
Euan William Marshall Chief Financial Officer & Executive Director
James Richards Chairman
Paul Philip Wainscott Senior Independent Non-Executive Director
Sarah Lucy Ing Independent Non-Executive Director
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