This report is an updated version of the report published on 17 May 2024 at 07:44 AM GMT+1.

Section 1: Introduction

Section 2: Investment Highlights & Summary Table

Section 3.0. Glencore PLC (LSE: GLEN) (Buy at GBX 493.00, closing market price of 16 May 2024)

3.1 Company Details

Glencore PLC (LSE: GLEN) is an FTSE 100 index-listed diversified natural resource entity. The key operations are in central Europe, Russia, North America, and South Africa. Kalkine’s Inflation Report covers the Investment Highlights, Key Financial Metrics, Risks, and Recent Business Updates along with the Valuation, Target Price, and Recommendation on the stock..

3.2. Key Metrics in Pictures

3.3 Valuation and Technical Guidance

 (Source: Refinitiv, Analysis done by Kalkine Group)

Section 4.0: Secure Trust Bank PLC (LSE: STB) (Speculative Buy at GBX 740.00 closing price as of 16 May 2024)

4.1 Company Details

Secure Trust Bank PLC (LSE: STB) is an FTSE All-Share index-listed UK retail bank with a 70-year trading track record. The Group's diversified lending portfolio currently focuses on business finance and consumer finance. Kalkine’s Inflation Report covers the Investment Highlights, Key Financial Metrics, Risks, and Recent Business Updates along with the Valuation, Target Price, and Recommendation on the stock.

4.2. Key Metrics in Pictures

4.3 Valuation and Technical Guidance

Source: Refinitiv, Analysis done by Kalkine Group)

Please note markets are trading in a highly volatile zone currently due to certain macroeconomic and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 16 May 2024. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level which the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’

Note 6: Dividend Yield may vary as per the stock price movement.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.