• Just 14 companies in the FTSE 350 have seen share price rises since the market sell-off began
• Cleaning suppliers and trading companies among the risers
• Food stockpiling has boosted Ocado and Sainsbury
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The FTSE 350 stocks that have risen since the market sell-off began |
|
|
Company |
% Rise |
|
Plus500 |
16.0% |
|
Genus |
9.7% |
|
Pollen Street Secured Lending |
5.6% |
|
IG Group |
4.7% |
|
Rentokil Initial |
2.8% |
|
Bunzl |
1.9% |
|
Ocado |
1.5% |
|
Foresight Solar Fund |
1.3% |
|
Sainsbury |
1.0% |
|
Pearson |
0.7% |
|
NextEnergy Solar Fund |
0.4% |
|
GlaxoSmithKline |
0.3% |
|
GCP Infrastructure Investments |
0.2% |
|
Hikma Pharmaceuticals |
0.1% |
|
Source: Sharepad/AJ Bell. Data: 21 Feb 2020 market close to 4 March 2020 market close. Excludes NMC Health whose shares are currently suspended. |
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Laura Suter, personal finance analyst at investment platform AJ Bell, comments:
“Despite the FTSE 350 having rebounded this week the index remains around 8% down since the Coronavirus market volatility began. While the vast majority of companies in the index have seen their share price fall during that time, 14 companies have managed to rise during the turmoil. A large number of these are set to be beneficiaries of the Coronavirus spread, from cleaning supply companies to more trading firms that profit from increased investor activity.
“Shares in online trading platform Plus 500 are up 16% during the global market sell-off as investors think it will benefit from wild swings in share prices, creating an environment favoured by people trading the markets. The more trades, the more commission and financing fees earned by Plus 500. The company has confirmed that it’s set to benefit, mentioning it was seeing better trading activity at its half-year results on 12 February and on 28 February confirmed a significant increase in customer trading activity.
“Another beneficiary is business supplies company Bunzl, which has risen by 2%, outperforming the market thanks to forecast-beating earnings and an upbeat outlook for this year. Among the products it supplies are hygiene and medical items, including masks and gloves, which have been in high demand since the virus outbreak. In a similar vein, while Rentokil is better known for its pest control services it also supplies hand washing and hand sanitising services and so is expected to have seen a pick-up in demand.
“Two supermarkets have also slipped into the top 10 risers, with online grocer Ocado rising by 1.5% and supermarket giant Sainsbury rising by 1%. Investors clearly think both will benefit from people stockpiling food or buying up cleaning supplies, as well as fewer people choosing to go out to eat. With Ocado there may also be an expectation they could see a pick-up in online orders if people avoid physically going to the shops.”
