FTSE 100 close to pre-pandemic levels but which stocks look overbought or oversold?

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The FTSE 100 is at its highest level since 20 February 2020, which few will need reminding was when the market started soiling its trews over the impending pandemic.


If you believe the adage, a rising tide lifts all boats but just under a half of the index’s constituents (45 to be precise) seem to have sprung serious leaks and are actually trading below their February 2020 level.


The hardest hit of all have been British Airways owner International Consolidated Airlines Group SA, which is down 60%, and aeroplane engine maker and maintainer, Rolls-Royce Group PLC, which is 52% lower.


Both have been hit hard by the restrictions on international travel, as has Melrose Industries PLC, the holding company that owns aerospace and automotive engineer, GKN; Melrose’s shares are down 31%.


Publisher and exhibitions organiser Informa PLC has lost just over a third of its value as its regular schedule of exhibitions has been seriously disrupted.


Oil companies have not done well, as the global economy went into lockdown and the use of oil declined. BP PLC is down 34% and Royal Dutch Shell PLC is off 24%.


Asia-focused banks HSBC Holdings PLC and Standard Chartered PLC, both down 26%, have both got it in the neck as pundits worry about the effects of the pandemic on China’s economy but even Lloyds Banking Group PLC – not noted for its sensitivity to the Chinese economy – is down 17%.


Property companies such as Land Securities PLC – down 26% – have seen the value of their assets collapse as investors wonder how many people will return to offices to work and whether shoppers have lost the habit of shopping in … er … shops.


Meanwhile, despite the government seemingly doing everything it can to support the housing market/stuff used fivers into the coffers of housebuilders (delete according to political persuasion), the share prices of many housebuilders have yet to recover to pre-pandemic levels; Taylor Wimpey PLC is down 22%, Barratt Developments PLC is off 17% and Berkeley Group Holdings PLC is 15% underwater.


Companies that have done well out of the pandemic include Royal Mail Group PLC, up 175%; bookie Entain PLC, up 132%; and technology-focused investor Scottish Mortgage Investment Trust PLC, up 111%.


As you can see from the table below, only one of the top three (Entain PLC) is trading at its high-point since 20 February of last year. Royal Mail is 17% off its peak and SMT is 3% below its high; on the other hand, Royal Mail has quadrupled since its low point of 124.3p in the period since 20 February 2020 while SMT has risen sixfold.


The table has been sorted based on the change in the current share price since its low point from 20 February, with the thinking being that while it is interesting to see, in the words of Jim Bowen, “what you could have won” had you had a crystal back in February 2020, it is probably more useful from an investment point of view to identify which stocks have not really seen much of recovery from their low points over the last 18 months. If you want to see which stocks might be overbought, just scroll to the bottom of the list.


Ticker Company Last night’s close %chg 20/2/20 to 10/8/21 High between 20/2/20 and 10/8/21 Change since high (p) Low between 20/2/20 and 10/8/21 Change since low (p) % change since period high % change since period low
TSCO Tesco PLC 234.5p -27.4 623.202p -388.7 219.3p 15.2 -62.4% 6.9%
RKT Reckitt Benckiser Group PLC 5645p -13 8108p -2463 5150p 495 -30.4% 9.6%
ULVR Unilever PLC 4107p -10.6 5324p -1217 3726p 381 -22.9% 10.2%
BATS British American Tobacco PLC 2648p -20.8 5643p -2995 2382p 266 -53.1% 11.2%
JET Just Eat Takeaway.Com NV 6533p -13.4 9980p -3447 5505p 1028 -34.5% 18.7%
NG. National Grid PLC 951.5p -9.98 1233.27p -281.77 799.7p 151.8 -22.8% 19.0%
SN. Smith & Nephew PLC 1372.5p -30.6 1990p -617.5 1152.5p 220 -31.0% 19.1%
GSK GlaxoSmithKline PLC 1446p -12.4 2288p -842 1190.8p 255.2 -36.8% 21.4%
VOD Vodafone Group PLC 119.28p -23 497.115p -377.84 98.02p 21.26 -76.0% 21.7%
ITRK Intertek Group PLC 5254p -10.7 6440p -1186 4164p 1090 -18.4% 26.2%
HL. Hargreaves Lansdown PLC 1472p -13.9 2433p -961 1158p 314 -39.5% 27.1%
ABF Associated British Foods PLC 2073p -21.3 3599p -1526 1607.5p 465.5 -42.4% 29.0%
IMB Imperial Brands PLC 1582.5p -7.4 4139p -2556.5 1219p 363.5 -61.8% 29.8%
AZN AstraZeneca PLC 8149p 7.59 9320p -1171 6221p 1928 -12.6% 31.0%
SGE Sage Group (The) PLC 715.2p -8.19 978.838p -263.64 534.8p 180.4 -26.9% 33.7%
LSEG London Stock Exchange Group PLC 7850p -6.73 9910p -2060 5806p 2044 -20.8% 35.2%
STAN Standard Chartered PLC 461.2p -25.8 1856.01p -1394.8 336.8p 124.4 -75.2% 36.9%
SVT Severn Trent PLC 2813p 4.85 2822p -9 2034p 779 -0.3% 38.3%
UU. United Utilities Group PLC 1067p 1.96 1081.5p -14.5 763.6p 303.4 -1.3% 39.7%
POLY Polymetal International PLC 1467.5p 12.4 2050p -582.5 1039.5p 428 -28.4% 41.2%
BA. BAE Systems PLC 571p -13 677p -106 397p 174 -15.7% 43.8%
REL RELX PLC 2133p 2.45 2173p -40 1482.5p 650.5 -1.8% 43.9%
HSBA HSBC Holdings PLC 409.95p -26.8 951.602p -541.65 283.35p 126.6 -56.9% 44.7%
LAND Land Securities Group PLC 712.6p -26.4 2218.2p -1505.6 489.05p 223.55 -67.9% 45.7%
HIK Hikma Pharmaceuticals PLC 2485p 30.1 2695p -210 1701.5p 783.5 -7.8% 46.1%
FRES Fresnillo PLC 772.2p 11.7 2150p -1377.8 527p 245.2 -64.1% 46.5%
CPG Compass Group PLC 1500p -23 2138p -638 1002p 498 -29.8% 49.7%
PHNX Phoenix Group Holdings 700p -11.9 803p -103 467.45p 232.55 -12.8% 49.8%
INF Informa PLC 532p -31.8 892p -360 354.4p 177.6 -40.4% 50.1%
SSE SSE PLC 1613.5p -3.73 1696p -82.5 1072.5p 541 -4.9% 50.4%
BKG Berkeley Group Holdings (The) PLC 4917p -14.8 5905.73p -988.73 3131p 1786 -16.7% 57.0%
DCC DCC PLC 6172p -1.44 7755p -1583 3878p 2294 -20.4% 59.2%
BP. BP PLC 308.9p -33.7 712p -403.1 193.44p 115.46 -56.6% 59.7%
RTO Rentokil Initial PLC 554.6p 10.2 571p -16.4 340.1p 214.5 -2.9% 63.1%
DGE Diageo PLC 3593p 15 3625.5p -32.5 2200p 1393 -0.9% 63.3%
EXPN Experian PLC 3094p 7.84 3251p -157 1882p 1212 -4.8% 64.4%
BLND British Land Co PLC 517.8p -8.74 1426.8p -909 313.8p 204 -63.7% 65.0%
ABDN abrdn PLC 290.8p -10.6 560.389p -269.59 174p 116.8 -48.1% 67.1%
SBRY Sainsbury (J) PLC 293.9p 40.6 594p -300.1 174.95p 118.95 -50.5% 68.0%
OCDO Ocado Group PLC 1789.5p 56.3 2895p -1105.5 1064p 725.5 -38.2% 68.2%
RDSB Royal Dutch Shell PLC 1467.4p -23.6 2841p -1373.6 866.4p 601 -48.3% 69.4%
SMDS DS Smith PLC 433.9p 19.6 538.914p -105.01 252.7p 181.2 -19.5% 71.7%
MNDI Mondi PLC 2033p 19.8 2236p -203 1183p 850 -9.1% 71.9%
HLMA Halma PLC 2900p 30.8 2958p -58 1667p 1233 -2.0% 74.0%
AUTO Auto Trader Group PLC 641.4p 12.6 660.8p -19.4 364.7p 276.7 -2.9% 75.9%
AVV Aveva Group PLC 4018p 0.336 4263.64p -245.64 2283.03p 1735 -5.8% 76.0%
RMV Rightmove PLC 707.2p 2.49 729.2p -22 400.1p 307.1 -3.0% 76.8%
WTB Whitbread PLC 3198p -21.3 4673.63p -1475.6 1808.45p 1389.5 -31.6% 76.8%
SMIN Smiths Group PLC 1444p -17.8 1801p -357 814.6p 629.4 -19.8% 77.3%
SDR Schroders PLC 3735p 10.3 3773p -38 2098p 1637 -1.0% 78.0%
JMAT Johnson Matthey PLC 3004p 8.14 3823p -819 1683.5p 1320.5 -21.4% 78.4%
TW. Taylor Wimpey PLC 178.5p -22.4 518.5p -340 99.18p 79.32 -65.6% 80.0%
CCH Coca-Cola HBC AG 2693p -4.03 3074p -381 1494p 1199 -12.4% 80.3%
BT.A BT Group PLC 176.75p 13.2 1102.69p -925.94 97.86p 78.89 -84.0% 80.6%
ADM Admiral Group PLC 3449p 50.1 3449p 1887p 1562 0.0% 82.8%
IAG International Consolidated Airlines Group SA 166.86p -60.2 503.862p -337 91p 75.86 -66.9% 83.4%
PSON Pearson PLC 798.6p 36.7 2301.79p -1503.2 423.5p 375.1 -65.3% 88.6%
SGRO Segro PLC 1245p 35.3 1269p -24 659.4p 585.6 -1.9% 88.8%
PSN Persimmon PLC 2915p -10.6 3298p -383 1534.5p 1380.5 -11.6% 90.0%
AV. Aviva PLC 403p -0.788 1280p -877 211p 192 -68.5% 91.0%
LLOY Lloyds Banking Group PLC 46.64p -17.5 533.264p -486.62 23.98p 22.66 -91.3% 94.5%
SPX Spirax-Sarco Engineering PLC 15125p 60.6 15410p -285 7710p 7415 -1.8% 96.2%
BDEV Barratt Developments PLC 717.4p -16.9 878.4p -161 364.7p 352.7 -18.3% 96.7%
IHG InterContinental Hotels Group PLC 4705p -8.12 5738p -1033 2385.5p 2319.5 -18.0% 97.2%
BRBY Burberry Group PLC 2146p 11.8 2345p -199 1085p 1061 -8.5% 97.8%
LGEN Legal & General Group PLC 277.3p -11.9 318.4p -41.1 138.6p 138.7 -12.9% 100.1%
BNZL Bunzl PLC 2599p 34.8 2674p -75 1277p 1322 -2.8% 103.5%
WPP WPP Group PLC 987.6p 0.345 1921p -933.4 483.7p 503.9 -48.6% 104.2%
PRU Prudential PLC 1451.5p -3.23 1981p -529.5 710.8p 740.7 -26.7% 104.2%
RIO Rio Tinto PLC 6164p 46.4 6658p -494 2968p 3196 -7.4% 107.7%
AVST Avast PLC 568.4p 26.5 609.4p -41 270.6p 297.8 -6.7% 110.1%
BME B&M European Value Retail SA 561p 50.6 601p -40 266.5p 294.5 -6.7% 110.5%
SKG Smurfit Kappa Group PLC 4115p 43.7 4126p -11 1944p 2171 -0.3% 111.7%
ITV ITV PLC 117.55p -10.8 280.7p -163.15 54.42p 63.13 -58.1% 116.0%
CRDA Croda International PLC 8814p 72.8 8814p 4070p 4744 0.0% 116.6%
III 3i Group PLC 1322p 12.6 1322p 597.8p 724.2 0.0% 121.1%
MRO Melrose Industries PLC 168.5p -31.1 261.2p -92.7 74.36p 94.14 -35.5% 126.6%
PSH Pershing Square Holdings Ltd 2570p 63.7 2790p -220 1134p 1436 -7.9% 126.6%
BARC Barclays PLC 185.38p 2.24 729.759p -544.38 80.24p 105.14 -74.6% 131.0%
NWG NatWest Group PLC 217.2p 4.57 6176.9p -5959.7 93.32p 123.88 -96.5% 132.8%
NXT Next PLC 7944p 11.5 8320p -376 3390p 4554 -4.5% 134.3%
CRH CRH PLC 3719p 27.3 3766p -47 1574p 2145 -1.2% 136.3%
BHP BHP Group PLC 2311p 37.8 2631.5p -320.5 939.8p 1371.2 -12.2% 145.9%
MNG M&G PLC 230.8p -7.61 251.4p -20.6 93.65p 137.15 -8.2% 146.5%
FERG Ferguson PLC 10080p 33 10510p -430 4086p 5994 -4.1% 146.7%
STJ St James’s Place PLC 1633p 39.8 1633p 660p 973 0.0% 147.4%
ANTO Antofagasta PLC 1537.5p 79.6 1925p -387.5 612p 925.5 -20.1% 151.2%
WEIR Weir Group PLC 1679p 22.8 2761p -1082 666.2p 1012.8 -39.2% 152.0%
FLTR Flutter Entertainment PLC 13950p 54.7 16915p -2965 5512p 8438 -17.5% 153.1%
RR. Rolls-Royce Group PLC 110.02p -51.8 442.344p -332.32 38.9839p 71.036 -75.1% 182.2%
KGF Kingfisher PLC 361.6p 65.1 702.15p -340.55 124.05p 237.55 -48.5% 191.5%
SMT Scottish Mortgage Investment Trust PLC 1370p 111 1415p -45 468.4p 901.6 -3.2% 192.5%
GLEN Glencore PLC 330.45p 44.3 535p -204.55 112.5p 217.95 -38.2% 193.7%
AAL Anglo American PLC 3352.5p 58 3680p -327.5 1091.8p 2260.7 -8.9% 207.1%
EVR Evraz PLC 632.6p 63.2 709.4p -76.8 203.4p 429.2 -10.8% 211.0%
JD. JD Sports Fashion PLC 939.8p 8.35 985p -45.2 293.2p 646.6 -4.6% 220.5%
ICP Intermediate Capital Group PLC 2182p 17.4 2340p -158 559.5p 1622.5 -6.8% 290.0%
RMG Royal Mail Group PLC 502.4p 175 631p -128.6 124.3p 378.1 -20.4% 304.2%
AHT Ashtead Group PLC 5518p 98.9 5708p -190 1300p 4218 -3.3% 324.5%
ENT Entain PLC 1971.5p 132 1971.5p 323.7p 1647.8 0.0% 509.1%

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