London Markets: This unheralded equipment rental company has been the top U.K. blue chip of the year

December 30, 2021

The unheralded equipment rental company Ashtead is set to wrap up the year as the top performing U.K. blue chip.

Ashtead
AHT,
-2.19%
shares have surged 75% this year.

In the fiscal first half ending Oct. 31, Ashtead adjusted earnings per share jumped 43% on 18% revenue growth. Ashtead operates Sunbelt Rentals, the second-largest rental equipment company in North America.

Ashtead’s stock price performance outpaced Glencore
GLEN,
-0.33%,
the mining giant and metals trading firm, which surged 63%, and aerospace parts group Meggitt
MGGT,
+0.05%,
which jumped 59%.

Ocado Group
OCDO,
,
the online grocery delivery company, slumped 27% as shoppers returned to stores, and FanDuel owner Flutter Entertainment
FLTR,
+2.16%
slipped 24%.

The FTSE 100
UKX,
-0.08%,
up 0.1% on Thursday, has climbed 15% this year, underperforming its major European rivals, with the French CAC 40 nearly doubling the U.K. performance.

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