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    GRG   GB00B63QSB39

GREGGS PLC

(GRG)
  Report
Delayed London Stock Exchange  -  11:35:10 2023-01-30 am EST
2704.00 GBX   +0.60%
01/20Factbox-How British retailers fared over cost-of-living crisis Christmas
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01/18Bank of America and Oddo BHF cut Whitbread
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01/18Sterling surges on "sticky" UK inflation
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FTSE 100 rises on boost from consumer, financial stocks

10/04/2022 | 05:33am EST
FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain

(Reuters) - UK shares rose on Tuesday, lifted by financials and retail stocks, as weak U.S. data raised hopes that the Federal Reserve may ease from its hawkish stance, while some calm in bond markets also helped improve sentiment.

The export-oriented FTSE 100 was up 1.5%, after hitting March lows on Monday, while the more domestically oriented FTSE 250 snapped a three-day losing streak, jumping 2.4% by 0853 GMT.

U.S. stocks rallied on Monday after the weak manufacturing data hit Treasury yields and the dollar, spurring a global rally.

"U.S. manufacturing numbers were a bit of a disappointment. So, now there is increasing speculation that the Fed might look to do a pivot or may at least pause interest rate hikes for a time," said David Madden, market analyst at Equiti Capital.

Risky assets have taken a hit this year as central banks globally undertake monetary tightening to tame surging inflation, at the risk of causing a recession.

In London, stocks had a choppy start to the final quarter on Monday. A "mini-budget" last month proposed unfunded tax cuts, roiling markets globally. However, Finance Minister Kwasi Kwarteng reversed the plan and is now expected to publish his medium-term fiscal plan later this month -- earlier than previously planned.

"The best gauge of sentiment is the British pound now rather than equity and it is at a much better value now," added Madden.

The sterling was up 0.5%, while the 10-year gilt yields also fell.

Legal & General Group jumped 5.1% after saying it would continue to support pension fund clients buffeted by sudden interest rate hikes. It added that it had not experienced difficulty in the aftermath of the "mini-budget".

Retailers were led higher by a 9.9% jump in Greggs after its same store sales rose 9.7% year-on year, despite a worsening cost of living squeeze.

Energy stocks advanced 0.3%, supported by higher crude prices on prospects of supply cuts by the OPEC+.

(Reporting by Johann M Cherian in Bengaluru; editing by Uttaresh.V)

By Johann M Cherian


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
GREGGS PLC 0.60% 2704 Delayed Quote.14.58%
UK 10Y CASH 0.00% 3.3406 Delayed Quote.-9.43%
All news about GREGGS PLC
01/20Factbox-How British retailers fared over cost-of-living crisis Christmas
RE
01/18Bank of America and Oddo BHF cut Whitbread
AN
01/18Sterling surges on "sticky" UK inflation
AN
01/15Britain's Sainsbury's partners with Just Eat for home delivery
RE
01/12Factbox-How British retailers fared over cost-of-living crisis Christmas
RE
01/09Factbox-How British retailers fared over cost-of-living crisis Christmas
RE
01/09After Christmas relief UK retailers face 2023 reality check
RE
01/06Factbox-How British retailers fared over cost-of-living crisis Christmas
RE
01/06UK Banking Outlook is Bright Despite Economy's Woes
DJ
01/06After Christmas relief UK retailers face 2023 reality check
RE
More news
Analyst Recommendations on GREGGS PLC
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Financials
Sales 2022 1 496 M 1 852 M 1 852 M
Net income 2022 122 M 151 M 151 M
Net Debt 2022 116 M 144 M 144 M
P/E ratio 2022 22,6x
Yield 2022 2,21%
Capitalization 2 721 M 3 370 M 3 370 M
EV / Sales 2022 1,90x
EV / Sales 2023 1,77x
Nbr of Employees 25 174
Free-Float 93,7%
Chart GREGGS PLC
Duration : Period :
Greggs plc Technical Analysis Chart | MarketScreener
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Technical analysis trends GREGGS PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 11
Last Close Price 2 688,00 GBX
Average target price 2 927,50 GBX
Spread / Average Target 8,91%
EPS Revisions
Managers and Directors
Roisin Currie Chief Executive Officer & Executive Director
Richard John Hutton Finance Director & Executive Director
Matthew Samuel Davies Chairman
Helena L. Ganczakowski Independent Non-Executive Director
Sandra Turner Senior Independent Non-Executive Director
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