It has been a tumultuous year on London’s markets as a cocktail of inflation, aggressive rate hikes and geopolitical instability roiled listed equities. The FTSE 100 is heading towards the end of the year close to where it started, but it has been nothing close to steady sailing for London’s biggest listed firms.
After a rosy start to 2023 in which the FTSE rose some five per cent by the start of March, touching a peak of 8012.53 in mid-February, a global banking crisis sent shares plunging in early March
The blue-chip index shed 7.4 per cent of its value in ten days and has been in flux ever since, unsettled by war in Ukraine and Gaza and tight monetary policy.
However, there have been some good news stories among the tumult; some glitter among the gloom. Here are some of the biggest winners of the year.
Rolls-Royce
The engineering giant has kicked off a major turnaround this year after parachuting in former BP executive Tufan Erginbilgic.
After taking over from Warren East on the 1 January, Erginbilgic was brutal in his assessment: “We do have a burning platform,” he said of the company later that month.
A year later, the FTSE 100 chief has helped the Rolls-Royce share price surge over 200 per cent.
Marks & Spencer
After years of lacklustre performance, chief Stuart Machin has overseen a blockbuster performance for the retail stalwart in 2023.
M&S had dropped out of the FTSE 100 but secured its return this year as pre-tax profit rose 56 per cent to £326m in the six months to 30 September.
The stock has risen around 114 per cent year-to-date.
3i Group
One of London’s few listed private equity houses, 3i has enjoyed a stellar year this year amid a tricky time for the industry.
The London-listed investment outfit reported solid investment returns through the year and investors took note: 3i’s share price has risen over 80 per cent in the year to date.
Sage Group
London-listed software group Sage enjoyed a stellar year this year as profit rocketed in the face of troubling economic conditions.
The stock surged ten per cent in a day in November after underlying operating profit jumped 18 per cent. The stock is up 58 per cent over the year.
Intercontinental Hotels Group
British hotels group IHG has revelled in a bumper year this year as it topped analyst expectations in its first-half results.
The group has predicted a full rebound in the travel industry by 2024. Investors have taken notice and have pushed the stock higher by 46 per cent over the past year.
