What stocks were hot in the latest week? BP, Rolls-Royce and more
Investing.com | Feb 07, 2021 14:21
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Oil major BP PLC (LON:BP) reported earnings on Tuesday where the company announced a $5.7bln loss in 2020. The FTSE 100 component saw its shares open the week at 274.25p which was its highest level. Shares hit a low 250.35p on Tuesday before rebounding slightly to close at 252.05p.
Rolls-Royce Holdings PLC (LON:RR) manufactures engines for both civil and defence aircraft. The company has been impacted by a fall in miles flown by commercial aircraft as a proportion of their revenue comes from servicing and maintenance. Shares opened the week at 93.32p, hit a high of 96.44p on Wednesday before closing the week at 93.90p.
Lloyds Banking Group PLC (LON:LLOY) shares had a strong week. The company benefitted after the Bank of England interest rate decision. Negative interest rates would squeeze margins even further at banks and the BoE effectively ruling it out in the term has been viewed positively for financials. Shares opened the week at 33.53p, hit a high of 37.49p on Friday before closing just off the high at 37.00p.
GameStop Corp (NYSE:GME) has had a tough week. The darling of WallStreetBets has shed almost all the gains since the squeeze seen in the previous week. Shares opened the week at $315, hit a low of $51.15 on Friday before staging a small bounce to close the week at $63.77.
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Anglo-French diagnostics company Novacyt (LON:NCYT) has again been popular. On Tuesday, the company announced they had launched new PCR test to help detect the new prevalent variants of Covid-19. Shares opened the week at £8.98, hit a low of £8.01 on Thursday before closing the week at £8.05.
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