The FTSE 100 index has been under pressure this week after BHP Group announced that it will end its dual-listing structure. The index is trading at £7,100, which is about 2% below the highest point this week. It is still about 8% above where it started the year at. Here are the top three best performing FTSE index stocks of the past 30 days.
The Rolls-Royce share price has jumped by more than 27% in the past 30 days. The stock is trading at 113p, which is about 30% below its lowest level in July this year. This performance is mostly because the company reported its first profit since the pandemic started in the final week of the month.
Similarly, General Electric, its biggest competitor also published strong quarterly results. Therefore, there is a sign that aeroplane orders are still rising, which is a good thing for companies in the stock. Notably, the RR share price has flourished even as airline stocks in the FTSE 100 and FTSE 250 like IAG and EasyJet have struggled.
Still, Rolls-Royce Holdings faces substantial risks going forward. The cost of doing business is rising and the number of Covid cases is also rising.
Taylor Wimpey is a leading British homebuilder that sells thousands of homes every year. The company has recently thrived as more Britons take advantage of low-interest rates and stamp duty holiday to purchase homes. As a result, home prices have surged by more than 20,000 pounds since the pandemic started.
In July, the company lifted its forward guidance for the year as it reported a strong report. The firm built more than 7,300 homes in the first half of the year. Subsequently, the Taylor Wimpey share price has jumped by more than 16% in the past 30 days. This makes it one of the best performers in the FTSE 100 index.
The biggest risk for the company is that the stamp duty holiday has ended and dragged house prices lower. Also, the cost of building has risen, which will likely affect the company’s margins.
Flutter Entertainment is a sports betting and gambling company in the US and UK. In the US, the company’s most prized asset is Fanduel, the fantasy sports company. The Flutter share price has risen by more than 14% in the past 30 days. This performance is mostly because of the strong demand for the company’s sports betting products. Last week, the firm said that its revenue jumped in the first half of the year as sports resumed.
The Flutter share price has also jumped because of rumours that it could be acquired. In a note last week, an analyst said that the company could attract bidders mostly because of the strong Fanduel franchise.
Other top performing FTSE 100 stocks in the past 30 days are Melrose Industries, Croda International, Anglo American, and Informa.