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Published 31 August 2022
Fidelity International
Important information: The value of investments and the income from them can go down as well as up, so you may get back less than you invest.
A LOOK at the five most actively-traded stocks over the past month throws up some familiar names.
Top of the list is BP The oil giant is a regular in the top spot – rival Shell retains its usual fifth place – and August is no exception. Actively-traded and widely held, BP is a stock that many love to hate, but nevertheless, it is more often than not a favourite with investors. What else made the top five?
1. BP
2. GSK
3. Rolls-Royce
4. Lloyds Banking Group
5. Shell
(Source: Fidelity Brokerage, August 2022)
At the start of August BP reported its highest quarterly profit for 14 years as the Ukraine war, which has thrown the commodity markets into turmoil, continues to boost BP’s bottom line.
BP’s underlying profits of $8.5bn – using a measure most closely-tracked by analysts – were almost three times the $2.8bn that BP generated over the same three months a year earlier. And that is also very close indeed to the all-time record of $8.8bn that the company reported in the third quarter of 2008.
And all of this, of course, translates into very good news for BP investors. Having raised its dividends and committed to a $3.5bn share buyback in the third quarter of 2022, having already completed $2.5bn of share buybacks between April and July, you can see why so many investors favour BP.
The second spot this month in the most actively-traded shares goes to GSK, the newly-focused biopharma company. GSK raised its full-year revenue and profit guidance after sales of its shingles vaccine soared, helping the group beat expectations in the second quarter. It now expects sales to grow between 6% and 8% in 2022, up from the previously forecast 5%-7%.
This updated guidance on the back of the first set of results since GSK spun off its consumer health division, Haleon in July, goes some way to validating the decision taken to carry out the largest European demerger for decades.
And we can expect to hear more from GSK as it takes on Covid vaccine rivals with the help of Sanofi. GSK’s new vaccine chief, Phil Dormitzer, who left Pfizer last year to join GSK as head of vaccine research and development, seems to have his sights set on ending the dominance of BioNTech/Pfizer and Moderna Covid vaccines. He says early data shows the GSK vaccine had fewer side effects and tends to provide protection against infection and/or serious illness, for longer.
However, despite saying that, he has also ensured GSK has kept a finger in the mRNA vaccine pie and is now looking at its uses for Covid and beyond. GSK has partnered with German biotech company CureVac to develop a next generation mRNA Covid-19 jab, including launching a trial of an Omicron-targeted vaccine and is also looking at using the technology for other viruses.
Five year performance
Source: FE from 31.8.17 to 31.8.22 Basis: Total returns in GBP. Excludes initial charge.
Important information: Investors should note that the views expressed may no longer be current and may have already been acted upon. Overseas investments will be affected by movements in currency exchange rates. Reference to specific securities should not be construed as a recommendation to buy or sell these securities and is included for the purposes of illustration only. This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice.
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