The FTSE 100 index has bounced back in the past few weeks as global stocks rebound. The index of blue-chip UK companies rose to a high of £7,550, which is slightly above this week’s high of £7,492. It has recovered by over 8% from the lowest level this year. Here are some of the top stocks driving the FTSE 100.
Flutter Entertainment
Flutter Entertainment (LON: FLTR) is a leading sports betting and gambling company that owns some of the top brands in the industry. Its top companies are Sky Betting & Gaming, Sportsbet, Fanduel, and Pokerstars.
The Flutter share price has rallied by 38% in the past 30 days, making it the best-performing FTSE 100 constituent. The stock jumped to the highest level since February this year. It has risen by over 45% from the lowest level this year.
This recovery accelerated after the firm published its financial results last week. The firm said that its EBITDA dropped by 20% to 476 million pounds in the first half of the year. Its stock rose since the figure was higher than the median estimate of 455.5 million pounds.
Entain share price has also risen by over 20% in the past 30 days, making it the fourth best performer in the index. The two firms operate in the gambling industry.
Admiral Group
Admiral Group (LON: ADM) is a leading British insurance company that operates several brands like Elephant, Admiral, Diamond and Bell, and Gladiator. It has business in Canada, India, Spain, the US, and Italy.
Admiral Group share price has bounced back in the past few weeks. The stock has jumped by more than 36% although they remain about 37% below the highest level in 2021. It is the second-best performer in the FTSE 100 index.
Admiral shares jumped after the company published its results last week. Its earnings per share dropped to 67 cents while its revenue came in at 637 million pounds. The drop in earnings and revenue was better than what analysts were expecting.
Ocado
Ocado (LON: OCDO) is another top-performer in the FTSE 100. For starters, Ocado is a leading e-commerce and logistics company. The firm has an e-commerce partnership with Marks and Spencer in the UK. Internationally, the firm provides warehousing solutions to key retailers like Kroger.
The firm has been a fallen angel in the UK as its stock price has crashed from an all-time high of 2,900p to 890. Still, the Ocado share price has jumped by over 19% in the past 30 days. Other top stocks that are fueling FTSE 100 recovery are RS Group, Glencore, Ashtead Group, and Hargreaves Lansdown. Natwest, BP, and Auto Trader Group have also done well.
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