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    FLTR   IE00BWT6H894

FLUTTER ENTERTAINMENT PLC

(FLTR)
  Report
Real-time Estimate Cboe Europe  -  03:34:28 2023-01-30 am EST
12375.00 GBX   -0.72%
01/27JPMorgan Downgrades Flutter Entertainment to Neutral, Lowers PT
MT
01/27JPMorgan raises 888; Peel Hunt cuts Antofagasta
AN
01/27Direct Line CEO Penny James out after profit warning
AN
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Commodity stocks help UK's FTSE 100 log its best month in two years

11/30/2022 | 05:49am EST

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Pennon Group slips on lower half-year profit

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Mining, energy stocks lead gains

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Consumer discretionary and staple stocks climb

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FTSE 100 up 0.8%, FTSE 250 off 0.1%

Nov 30 (Reuters) - UK's FTSE 100 index closed with sharp gains on Wednesday and marked its best monthly performance in two years, lifted by commodity-linked and consumer stocks on hopes of Chinese demand recovery and easing domestic political concerns.

The blue-chip index jumped 0.8%, to log its best month since Nov 2020. The domestically focused FTSE 250 midcap index closed 0.1% down. The indexes gained 6.7% and 7.1%, respectively, this month.

Energy stocks along with precious and base metal miners were up between 1.6% and 1.9%.

Mining companies like Glencore, Rio Tinto , Anglo American led the gains on the commodity-heavy FTSE 100 helped by Jefferies' optimism about the sector.

The FTSE 100 has climbed 12.9% since its Oct. 13 lows, when a bungled mini-budget sent markets into a tailspin, as new government leadership tries to restore investor confidence in the economy amid surging inflation and a severe cost-of-living crisis.

Hani Redha, portfolio manager at PineBridge Investments cites decreasing risk of energy rationing aiding views for cooling inflation.

"There is a lot of room for inflation to come down, and that's what the market is picking up on and that has positive implications for consumer discretionary."

Flutter Entertainment was among the biggest gainers in the consumer discretionary sector, up 2.2%, after JP Morgan raised the stock's price target.

Focus has turned to Jerome Powell, who speaks later in the day in what will be the U.S. Fed chief's last opportunity to steer sentiment ahead of the central bank's December meeting.

Michael Hewson, chief market analyst at CMC Markets, however says Powell's comments is not likely to have much effect on the market.

"Central bankers got it massively wrong when they said that inflation was transitory. Now they're telling us inflation is likely to remain high for quite some time. Yet all the data is pointing to inflation starting potentially peaking and starting to come down," he said.

"Various Fed officials have been quite hawkish in the past week or so, and yet bond and (equity) markets have ignored them."

Among single stocks, Pennon Group lost 2.4% after the utilities company reported a lower half-year pre-tax profit.

Shares of Rolls-Royce rose 2% after Barclays initiated coverage of the engineering company with an "overweight" rating. (Reporting by Shashwat Chauhan and Shristi Achar A in Bengaluru; Editing by Sherry Jacob-Phillips and Shailesh Kuber)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ANGLO AMERICAN PLC -0.80% 3529.5 Delayed Quote.9.90%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.35% 0.7083 Delayed Quote.4.32%
BARCLAYS PLC -0.87% 184.06 Delayed Quote.17.20%
BRITISH POUND / US DOLLAR (GBP/USD) -0.10% 1.23878 Delayed Quote.2.50%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.24% 0.74933 Delayed Quote.1.72%
EURO / US DOLLAR (EUR/USD) 0.16% 1.08882 Delayed Quote.1.57%
FLUTTER ENTERTAINMENT PLC -1.04% 12330 Delayed Quote.10.41%
FTSE 100 -0.40% 7735.36 Delayed Quote.4.21%
FTSE MID 250 INDEX -0.47% 19938.23 Delayed Quote.6.27%
GLENCORE PLC -1.08% 542.5 Delayed Quote.-0.76%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.12% 0.012256 Delayed Quote.1.48%
MSCI UNITED KINGDOM (STRD) 0.06% 1146.93 Real-time Quote.6.67%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) -0.21% 0.64803 Delayed Quote.2.27%
PENNON GROUP PLC -0.32% 936.5 Delayed Quote.5.74%
RIO TINTO PLC -0.16% 6281 Delayed Quote.8.50%
ROLLS-ROYCE HOLDINGS PLC -0.77% 109.2424 Delayed Quote.18.24%
S&P UNITED KINGDOM (PDS) -0.34% 1572.11 Real-time Quote.3.81%
All news about FLUTTER ENTERTAINMENT PLC
01/27JPMorgan Downgrades Flutter Entertainment to Neutral, Lowers PT
MT
01/27JPMorgan raises 888; Peel Hunt cuts Antofagasta
AN
01/27Direct Line CEO Penny James out after profit warning
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01/27FLUTTER : JP Morgan gives a Neutral rating
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01/26BetMGM expects to become profitable in second half of 2023
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01/09FTSE 100 Closed Up Boosted by China Reopening
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01/05FLUTTER : UBS reaffirms its Buy rating
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More news
Analyst Recommendations on FLUTTER ENTERTAINMENT PLC
More recommendations
Financials
Sales 2022 7 497 M 9 283 M 9 283 M
Net income 2022 -26,5 M -32,9 M -32,9 M
Net Debt 2022 4 224 M 5 230 M 5 230 M
P/E ratio 2022 -3 403x
Yield 2022 0,05%
Capitalization 21 946 M 27 172 M 27 172 M
EV / Sales 2022 3,49x
EV / Sales 2023 2,91x
Nbr of Employees 16 813
Free-Float 96,9%
Chart FLUTTER ENTERTAINMENT PLC
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Flutter Entertainment plc Technical Analysis Chart | MarketScreener
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Technical analysis trends FLUTTER ENTERTAINMENT PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 26
Last Close Price 12 465,00 GBX
Average target price 13 981,22 GBX
Spread / Average Target 12,2%
EPS Revisions
Managers and Directors
Jeremy Peter Jackson Chief Executive Officer & Director
Jonathan Stanley Hill Chief Financial Officer & Director
Gary W. McGann Non-Executive Director
Zillah Ellen Byng-Thorne Independent Non-Executive Director
Nancy Cruickshank Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
FLUTTER ENTERTAINMENT PLC10.41%27 172
SANDS CHINA LTD17.95%31 579
GALAXY ENTERTAINMENT GROUP LIMITED5.81%30 455
EVOLUTION AB16.51%24 440
ARISTOCRAT LEISURE LIMITED11.63%15 915
CAESARS ENTERTAINMENT, INC.25.99%11 245