Disclaimer: Please be advised that the information provided in this article is relevant as of the time of its composition. However, it is important to recognize that due to the periodic release of new financial reports on a quarterly basis, the status of the mentioned stocks may undergo changes. Therefore, readers are encouraged to exercise diligence and consult updated financial information before making any investment decisions.
Among European countries, the UK market is the place where you can see the most significant interest in halal products, particularly in halal stocks.
How many halal stocks are there in the United Kingdom?
According to the recent data provided by Islamicly, 40% of UK stocks on capital markets are found to be Shariah-compliant. Thus, the UK capital market offers more than 300 halal stocks. This number gives an excellent opportunity for Muslim investors to provide a decent pool of stock options to trade. London Stock Exchange expects more halal stock options to be listed in the upcoming years.
10 Shariah-compliant stocks on London Stock Exchange.
1. GSK plc (GSK.L)
GSK Plc is a healthcare company, which engages in the research, development, and manufacture of pharmaceutical medicines, vaccines, and consumer healthcare products. The company is headquartered in Brentford, Middlesex and currently employs 69,400 full-time employees. The Company’s segments include Commercial Operations and Research and Development.
2. Relx PLC (REL.L)
RELX Plc engages in provision of information and analytics solutions for professional and business customers across industries. The firm operates in four market segments: Risk; Scientific, Technical & Medical; Legal, and Exhibitions.
3. Reckitt Benckiser Group PLC (RKT.L)
Reckitt Benckiser Group Plc engages in the manufacture and trade of consumer brand products including Air Wick, Calgon, Cillit Bang, Clearasil, Dettol, Durex, Enfamil, Finish, Gaviscon, Harpic, Lysol, Mortein, Mucinex, Nurofen, Nutramigen, Strepsils, Vanish, Veet, and Woolite.
The company is headquartered in Slough, Berkshire and currently employs 51,812 full-time employees. The company went IPO on 2007-10-23. The firm’s operating segments comprise the Hygiene, Health, and Nutrition business.
4. AstraZeneca PLC (AZN)
AstraZeneca PLC is a holding company, which engages in the research, development, and manufacture of pharmaceutical products. Furthermore, the company’s pipelines are including Oncology, cardiovascular, renal, metabolism, and respiratory therapies. The company was founded on June 17, 1992, in Cambridge, United Kingdom, and is headquartered there.
The company also offer various drugs and COVID-19 products such as Synagis, Fluenz Tetra/FluMist Quadrivalent, Seroquel IR/Seroquel XR, Vimovo, Movantik/Moventig, Nexium, Losec/Prilosec, and COVID-19 Vaccine AstraZeneca. In addition, the company supports general care and speciality care providers through distributors and local representative offices.
5. Rio Tinto PLC (RIO)
The Rio Tinto Group is a global mineral resource exploration, mining, and processing company. The corporation offers aluminium, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It also has an open pit and underground mines, mills, refineries, smelters, power plants, and research and service centres that it owns and runs. The firm was established in 1873 and is headquartered in London, England.
6. Linde PLC (LIN)
Linde PLC is a subsidiary of Linde Group, a company that specializes in industrial gases and engineering. The company provides both atmospheric and process gases. It creates industrial gases for internal use by designing, engineering, and manufacturing equipment. It also provides patients and medical personnel with gaseous medication and related medical items and devices. The company was formed in 1879 and is headquartered in Guildford, England.
7. Pentair PLC (PNR)
Pentair PLC is an industrial manufacturing company with a wide range of products. The company operates in Water Quality Systems and Flow and Filtration Solutions businesses. Water Quality Systems develops, manufactures, markets, and services water filtration and fluid management systems and solutions for food and beverage, water, swimming pools, and aquaculture applications. While flow and filtration solution involved in the entire water, water treatment, and wastewater system, filtration, desalination, and water supply to water disposal, process, and control.
8. Associated British Foods PLC (ABF.L)
Associated British Foods Plc engages in the business of manufacturing and trading of consumer goods. The Company’s segments include Grocery, Ingredients, Agriculture, Sugar, and Retail. Grocery segment is engaged in the manufacture of grocery products, including hot beverages, sugar and sweeteners, vegetable oils, balsamic vinegars, bread and baked goods, cereals, ethnic foods and meat products, which are sold to retail, wholesale and foodservice businesses.
9. Sage Group PLC (SGE.L)
The Sage Group plc engages in the provision of business management solutions. The company is headquartered in Newcastle Upon Tyne, Northumberland and currently employs 11,565 full-time employees. The firm’s segments include Northern Europe, International-Central and Southern Europe and North America. The company is engaged in the development, distribution, and support of business management software and related products and services for small and medium-sized businesses.
10. Steris PLC (STE)
Steris PLC provides infection prevention and other procedural products and services worldwide. It operates in three segments: Healthcare, Applied Sterilization Technologies, and Life Sciences. In addition, the company operates through four reportable business segments: Healthcare Products, Healthcare Specialty Services, Life Sciences, and Applied Sterilization Technologies. The company’s other segment includes the Defense and Industrial business unit. The company serves its customers in the United Kingdom, the United States, and many other countries worldwide.
The United Kingdom Market offers the largest number of Shariah Compliant stocks in the following three sectors: the consumer goods sector (85%), the healthcare sector (72%), and the technology sector (70%).
However, the mentioned halal stocks in the UK may change their Shariah compliance status due to the dynamic market conditions.
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