You are here: Home - Investing - Experienced Investor - News -

Greggs, Wizz Air and Scottish Mortgage shares down 40% this year

0
Written by: Sarah Davidson
24/06/2022
More than 100 stocks in the FTSE 350 index have seen their share price fall by 30% or more since January 2022, including some names which up until this year had been market darlings.

Media group Future, asset manager Liontrust, aviation expert Wizz Air, tech investor Scottish Mortgage and sausage rolls seller Greggs have all had a terrible time on the markets in 2022.

Scottish Mortgage’s share price has plummeted by almost 46% this year, Wizz Air is down 53% and Greggs has seen 44% wiped off its market value since the start of 2022.

Russ Mould, investment director at AJ Bell, said companies are now under pressure to report “outstanding news” to keep share prices in positive territory and without a change in the direction of monetary policy or uptick in Britain’s economic outlook, the second half of 2022 could prove just as dismal.

He said: “As we approach the halfway point for 2022, investors continue to cross their fingers that markets will have a better second-half than the first six months of the year. Just 59 socks in the FTSE 350 index are currently sitting on share price gains year-to-date.”

Susannah Streeter, senior investment and markets analyst at investment platform Hargreaves Lansdown, said this morning’s retail sales figures, which showed a 0.5% fall in May driven by lower grocery spending, had sliced supermarket share prices in early trading.

Ocado fell 2% while Marks & Spencer dropped 1.5% this morning.

“With signs the post-pandemic spending bubble is bursting, shoppers are expected to be seeking out cheaper deals and Tesco with its stronger brand image for value is proving a bit more resilient, rising 0.6%,” said Streeter.

The FTSE 100 opened higher in early trade with pharmaceutical stocks and defence companies helping to lift the index. The pound dropped slightly before recovering to hover around $1.22, “largely brushing off the latest wave of political instability after dramatic by-election losses for the Conservative party,” said Streeter.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Flight cancelled or delayed? Your rights explained

With no sign of the problems in UK aviation easing over the peak summer period, many will worry whether holida...

Rail strikes: Your travel and refund rights

Thousands of railway workers will strike across three days this week, grinding much of the transport system to...

How your monthly bills could rise as the base rate reaches 1.25%

The Bank of England has raised the base rate to 1.25% as predicted – the fifth consecutive rise in just six ...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week