Bolstered by the recent gains and robust market performance in 2023, investors keen on navigating the FTSE 100 are presented with many promising opportunities in 2024.
One of the best indicators of the market and traders’ sentiment is a list of the most searched stocks on Google, highlighting the interest around these particular assets.
Finbold used data retrieved by Investing Reviews, a platform specializing in investment comparisons, and analyzed Google search data about the stocks of each FTSE 100 company. The analysis involved aggregating the stock code of each company with diverse stock-related terms, aiming to ascertain the most searched stock in 2023.
Picks for you
BAE Systems (LON: BA)
BAE Systems (LON: BA), an aerospace and defense company’s stock, notably dominates search queries in key cities like Glasgow, boasting an average of 27,080 monthly searches, and Edinburgh, which records 24,827 average monthly searches. BAE Systems secures the title of the most searched stock in 20 of the 58 surveyed locales across the United Kingdom.
This stands to reason, as BAE Systems’ stock has experienced a significant increase in price since the Russian invasion of Ukraine, which began in February 2022. This is due to BAE Systems being one of the UK’s primary defence companies, who have also produced a large part of the equipment the UK has given to Ukraine in military aid.
BA share was trading at £10.74 ($13.60), representing an increase of 1.13% from the previous market close and a 2.34% increase in the last 5 trading sessions, as per data obtained on December 18.
JD Sports (LON: JD)
JD Sports (LON: JD), an apparel retailer, notably clinched the top spot in 28 out of the 58 surveyed UK locales. Particularly noteworthy is its status as the most searched stock in key cities, including Birmingham, with an average of 67,606 monthly searches, Liverpool, with 35,911 average monthly searches, and Manchester, recording 30,345 average monthly searches.
JD Sports’ success is attributed to three key factors. Firstly, it foresaw the enduring popularity of ‘athleisure’ as a permanent shift in fashion rather than a fleeting trend. Secondly, the retailer established a symbiotic relationship with major sports brands like Nike (NYSE: NKE) and Adidas, with approximately 50% of its products exclusive to JD Sports.
This unique bond attracts customers and solidifies the brand’s standing in the market. Lastly, JD Sports focuses on continuous growth, expanding into new territories and markets while consistently increasing its market share and showcasing the global appeal of its products.
At the time of press, JD share was priced at £1.73 ($2.19), noting a decrease of 0.35% since the market opening and a further -0.40% dip over the previous 5 sessions.
Lloyds Banking Group PLC (LON: LLOY)
Lloyds Banking Group (LON: LLOY) takes the top spot in seven out of the 58 surveyed UK locales, including cities like Swansea with 6,631 average monthly searches, York with 4,686 average monthly searches, and Chester with 3,900 average monthly searches.
LLOY shares have experienced an upswing fueled by optimism surrounding the possibility that interest rates have peaked and that there could be a forthcoming reduction by the Bank of England next year. Market expectations suggest that the current base rate of 5.25% might potentially decrease by a whole percentage point to 4.25% by this time next year. This anticipation has already led to a decline in mortgage rates, alleviating the strain on homeowners whose ultra-low fixed rates are set to expire in the coming months.
At the time of reporting, LLOY was trading at £0.4707 ($0.60) per share, highlighting an -0.15% decrease since the market opening, contrary to the gains of 2.78% made in the past 5 trading sessions.
SSE Plc (LON: SSE)
Securing the fourth position with an average of 239,976 monthly searches, SSE Plc (SSE) is the fourth most searched FTSE 100 stock in 2023. The energy company takes the lead in specific regions, being the most searched stock in Dundee with 7,530 average monthly searches and Inverness with 6,455 average monthly searches.
SSE recently reported a notable 65% surge in adjusted operating profit, reaching £2.53 billion. However, a reported loss of £146.3 million was incurred, attributed to unfavorable fair value movements on derivatives.
The company is required to make substantial capital investments in constructing its energy infrastructure, impacting overall profits. This necessity prompted management to recently rebase its dividend in response to the financial landscape shaped by these capital expenditures.
SSE was trading at £18.64 ($23.61) after a decrease of -0.72% since the market opening, with 0.51% gains made in the previous 5 trading sessions.
BP (LON: BP)
Ranked as the fifth most searched FTSE 100 stock in 2023, BP (LON: BP) records an average of 225,467 monthly searches. Notably, the oil company holds second in searches in Kingston upon Hull, with an average of 6,621 searches per month, and in Swansea, where it registers 4,853 average monthly searches.
In the second quarter, BP and other energy majors witnessed a significant year-on-year decline in profits, primarily due to lower fossil fuel prices, which have subsequently experienced a notable rebound. Interestingly, BP and its counterparts reported record annual earnings in 2022.
Looking ahead, BP’s outlook suggests an expectation of production restrictions by members of the Organization of the Petroleum Exporting Countries (OPEC) and a rebound in demand, which is anticipated to bolster oil prices. Additionally, the company foresees a notable reduction in industry refining margins during the fourth quarter.
BP share was priced at £4.68 ($5.93), after an increase of 1.94% since markets opened and contrary to the losses of -0.26% sustained in the past 5 days.
Supported by their solid fundamentals and documented investor interest, these stocks may offer profits to those traders who decide to acquire them.
However, it is essential to conduct a thorough analysis and research prior to deciding whether to acquire a specific asset or not, in order to minimize risks.
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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
