Log in
Log in
Or log in with
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
Twitter Twitter
Facebook Facebook
Apple Apple     


Delayed Nasdaq  -  04:00 2022-09-30 pm EDT
20.14 USD   -1.13%
09/29Norton Helps Take the Fear Out of Cyber Safety During Cybersecurity Awareness Month 2022
09/21Insider Buy: NortonLifeLock
09/19NortonLifeLock Issues Aggregate $1.5 Billion of 2027, 2030 Notes
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

FTSE 100 rises on Avast boost, banks up ahead of BoE meeting

08/03/2022 | 05:15am EDT

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

* Avast hits record high

* Hiscox falls after results

* BoE to raise interest rates by 50 bps on Thursday

* FTSE 100 rises 0.5%, FTSE 250 up 0.7%

Aug 3 (Reuters) - Britain's main stock indexes closed higher on Wednesday as Avast surged after it won regulatory approval for NortonLifeLock's $8.6 billion deal, while banks rose a day before an expected interest rate hike from the Bank of England.

Shares of Avast Plc soared 43.8% to an all-time high after Britain's competition regulator said it has provisionally cleared cybersecurity firm NortonLifeLock's $8.6 billion purchase of its rival.

The blue-chip FTSE 100 index was 0.5% higher, while the domestically focussed midcap index gained 0.7%. Both the indexes clocked strong gains in July, with the FTSE 100 outperforming its global peers so far this year.

"The UK market is a defensive market, so it will tend to outperform in a year like 2022 when there are a lot of uncertainties," said Thomas Moore, senior investment director at abrdn.

"People will still pay for their energy, heating bills; they will buy cigarettes, a bottle of whiskey. Inflation and interest rates could be a problem for the UK economy, but it is unlikely to be a problem for UK stock market."

All eyes are on the Bank of England's meeting on Thursday where policymakers are expected to raise interest rates by 50 basis points after other central banks pushed up borrowing costs sharply in recent weeks, despite the risk of an economic slowdown or a recession.

UK banks rose 1.5% ahead of the decision.

"If we get the 50 basis point hike, the big winners of that will be the banking sector," said Stuart Cole, head macro economist at Equiti Capital.

"But it is going to come at the same time as consumers are facing higher cost of living with things such as inflation."

Markets also took comfort in U.S. House Speaker Nancy Pelosi's leaving Taiwan following a visit which angered China.

Hiscox dipped 0.7% after the Lloyd's of London insurer posted a first-half pretax loss of $107 million.

Homebuilder Taylor Wimpey Plc gained 5.5% after it forecast annual operating profit near the top end of market consensus range. (Reporting by Sruthi Shankar, Shreyashi Sanyal and Johann M. Cherian in Bengaluru; Editing by Sherry Jacob-Phillips, Shailesh Kuber and Angus MacSwan)

© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / BRITISH POUND (AUD/GBP) 0.00% 0.5732 Delayed Quote.8.60%
CANADIAN DOLLAR / BRITISH POUND (CAD/GBP) 0.00% 0.647992 Delayed Quote.11.93%
EURO / BRITISH POUND (EUR/GBP) 0.01% 0.87822 Delayed Quote.4.68%
FTSE 100 0.18% 6893.81 Delayed Quote.-6.65%
FTSE MID 250 INDEX 2.25% 17168.34 Delayed Quote.-26.88%
HISCOX LTD 0.59% 882.4 Delayed Quote.2.51%
INDIAN RUPEE / BRITISH POUND (INR/GBP) -0.34% 0.011 Delayed Quote.11.22%
MSCI TAIWAN (STRD) -1.08% 459.986 Real-time Quote.-37.35%
NORTONLIFELOCK INC. -1.13% 20.14 Delayed Quote.-21.59%
TAYLOR WIMPEY PLC 3.78% 88.3 Delayed Quote.-49.69%
US DOLLAR / BRITISH POUND (USD/GBP) 0.09% 0.896057 Delayed Quote.21.12%
09/29Norton Helps Take the Fear Out of Cyber Safety During Cybersecurity Awareness Month 202..
09/21Insider Buy: NortonLifeLock
09/19NortonLifeLock Issues Aggregate $1.5 Billion of 2027, 2030 Notes
09/19Nortonlifelock Inc. : Entry into a Material Definitive Agreement, Creation of a Direct Fin..
09/19Nortonlifelock Inc. Issues $1,500,000,000 Aggregate Principal Amount of Senior Notes, C..
09/16Nortonlifelock Inc. : Change in Directors or Principal Officers, Submission of Matters to ..
09/13Nortonlifelock : 2022 Annual Meeting Agenda and Rules of Conduct
09/13Avast Listing Canceled After NortonLifeLock Merger Becomes Effective
09/12NortonLifeLock Expands Board, Adds President Following Close of Avast Merger
09/12NortonLifeLock Completes Avast Acquisition
More news
Analyst Recommendations on NORTONLIFELOCK INC.
More recommendations
Financials (USD)
Sales 2023 2 881 M - -
Net income 2023 998 M - -
Net Debt 2023 1 239 M - -
P/E ratio 2023 11,9x
Yield 2023 2,53%
Capitalization 13 414 M 13 414 M -
EV / Sales 2023 5,09x
EV / Sales 2024 4,44x
Nbr of Employees 2 700
Free-Float 91,6%
Duration : Period :
NortonLifeLock Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends NORTONLIFELOCK INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 6
Last Close Price 20,14 $
Average target price 26,36 $
Spread / Average Target 30,9%
EPS Revisions
Managers and Directors
Vincent Pilette Chief Executive Officer & Director
Natalie M. Derse Chief Financial Officer & Executive Vice President
Mani Vivek Chief Financial Officer & Vice President
Frank Emmanuel Dangeard Chairman
Sameer Khera Chief Information Officer
Sector and Competitors
1st jan.Capi. (M$)
ADOBE INC.-50.93%127 940
AUTODESK, INC.-33.57%40 322
WORKDAY INC.-44.28%38 971