The FTSE 100 index started the year well. On Monday, it soared to the highest level since January 2020, meaning that it has jumped by over 58% from its lowest level in March 2020. It has jumped in the past three straight weeks. Here are the top four most popular FTSE index stocks on Monday.
Lloyds Bank
Lloyds Bank (LON: LLOY) is the most active stock in the FTSE 100 index according to data compiled by Hargreaves Lansdown. The cumulative volume is over 49 million, which is worth over 2 billion pounds.
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The rising demand for the company’s shares is mostly because of the fact that they have soared to a multi-year high. The Lloyds share price is trading at 55.45p, which is the highest level since February 2020. It has risen by over 140% from its lowest level in 2020.
Analysts cite several catalysts for the performance of the LLOY share price. First, there are rising hopes that the Bank of England (BOE) will hike interest rates. In most cases, Lloyds Bank tends to do well in a period of high-interest rates.
Second, the stock has risen because of the strong performance of the UK housing sector. Recent data showed that the UK home prices continued doing well in December. In total, the average home price has jumped by more than 20,000 pounds in the past year.
Most importantly, the stock has risen as investors welcome the new strategy by the current CEO. It entails increasing investments in real estate and wealth management.
BP
BP (LON: BP) is the second most popular stock in the FTSE 100 on Monday. The stock has jumped by 0.93% as oil and gas companies have done well.
Like Lloyds, the BP share price has been in a bullish trend in the past few months. It is trading at 391p, which is the highest it has been since February 2020. It has risen by over 122% from its lowest level in 2020.
BP shares have risen because of the strong performance of crude oil and natural gas. As such, analysts expect that the company will continue being significantly profitable this year. Besides, the price of Brent has jumped to a multi-year high.
Glencore
Glencore (LON: GLEN) is another popular FTSE 100 stock. According to Hargreaves Lansdown, it is the third most popular stock in the index.
The Glencore share price has jumped to an all-time high of 409p, bringing its total market capitalization to over 54 billion pounds.
The stock has done well because of the rising prices of commodities like copper and iron ore. Most importantly, the rising coal prices have helped the company.
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