Greggs (GRG)

Sector:

Food Pharmacy Retail

Index:

FTSE 250

2,700.00p
   
  • Change Today:
      6.00p
  • 52 Week High: 2,786.00
  • 52 Week Low: 1,673.00
  • Currency: UK Pounds
  • Shares Issued: 102.12m
  • Volume: 158,371
  • Market Cap: £2,757.25m
  • RiskGrade: 191

Sunday newspaper round-up: British Steel, Takeovers, Credit Suisse

By Alexander Bueso

Date: Sunday 02 Oct 2022

LONDON (ShareCast) - (Sharecast News) - Jingye Group, the Chinese outfit that brought British Steel out of insolvency in 2020, has told ministers that its two blast furnaces would not be viable unless financial support from taxpayers was forthcoming. In remarks to Sky News, insiders said the company may need "hundreds of millions of pounds" in order to keep the company's blast furnaces in Scunthorpe, north Lincolnshire, operational. It remained nevertheless unclear whether the rescue package would take the form of a grant or loan. - Sunday Telegraph
A handful of UK companies, including Entain, DS Smith, BT and Vodafone, are all at risk of being sold to their US rivals as a result of the plunging pound, analysts at Canaccord Genuity said. The same is true of other well-known outfits, such as Playtech, Darktrace, Greggs, MoneySuperMarket and Ascential could also become targets. However, higher interest rates could make it more difficult for private equity names to finance such acquisitions. In particular, takeovers of BT and Vodafone, while tempting, would be complex, analysts said, although others expected companies in food and health and beauty as potential buyout targets. - Financial Mail on Sunday

Credit Suisse boss, Ulrich Koerner, sent a memo to staff reassuring them of the investment bank's financial stability in the wake of a recent share price slide. Koerner explained to staff that they should not confuse 'day to day stock price' movements with the lender's underlying performance. Nevertheless, in the same memo, Koerner, said that Credit Suisse was at a "critical moment". Koerner, who took over at the helm of Credit Suisse in July, also said he was aware of the speculation both within and outside the bank and therefore wanted staff to hear straight from him during this "challenging period". - Financial Mail on Sunday

Morrisons may see its borrowing costs surge by nearly £100m due to the impact of market turmoil on the highly-leveraged grocer. Over half its debt pile is at floating rates and the company has no hedges in place for interest rates. That means that the annual interest rate expense of its £6.6bn debt pile might increase by £35-335m. A source close to private equity giant Clayton, Dubilier & Rice, which bought Morrisons in 2021, says the grocer's capital structure has a cap on interest rate exposure. Yet the jump in borrowing costs may make it more difficult to carry out its plans to sell and lease back warehouses and food manufacturing centres. - The Sunday Times

The steep drop in the pound may make British holidaymakers sicken when they next go abroad. Tour operators catering to inbound visitors on the other hand booked their best month since October 2019 as US tourists took advantage. The second largest market for tourists, China, remains closed, but the number of visitors from the States is usually far larger. Furthermore, the average US tourist spends three times more than an average UK holidaymaker travelling domestically. - Guardian

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Greggs Market Data

Currency UK Pounds
Share Price 2,700.00p
Change Today 6.00p
% Change 0.22 %
52 Week High 2,786.00
52 Week Low 1,673.00
Volume 158,371
Shares Issued 102.12m
Market Cap £2,757.25m
RiskGrade 191

Greggs Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
90.32% below the market average90.32% below the market average90.32% below the market average90.32% below the market average90.32% below the market average
Sector averageSector averageSector averageSector averageSector average
Price Trend
83.57% above the market average83.57% above the market average83.57% above the market average83.57% above the market average83.57% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Income
42.92% below the market average42.92% below the market average42.92% below the market average42.92% below the market average42.92% below the market average
60% below the sector average60% below the sector average60% below the sector average60% below the sector average60% below the sector average
Growth
8.04% above the market average8.04% above the market average8.04% above the market average8.04% above the market average8.04% above the market average
45.45% above the sector average45.45% above the sector average45.45% above the sector average45.45% above the sector average45.45% above the sector average

What The Brokers Say

Strong Buy 5
Buy 3
Neutral 2
Sell 0
Strong Sell 0
Total 10
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Greggs Dividends

  Latest Previous
  Interim Final
Ex-Div 08-Sep-22 12-May-22
Paid 07-Oct-22 08-Jun-22
Amount 15.00p 42.00p

Trades for 01-Feb-2023

Time Volume / Share Price
17:07 1,602 @ 2,711.28p
17:07 52 @ 2,711.29p
17:07 1,602 @ 2,711.82p
17:07 52 @ 2,711.83p
16:45 38 @ 2,696.00p

Greggs Key Personnel

Finance Director Richard Hutton
CEO Roisin Currie
Chair Matthew Davies

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