The UK stock market has been relatively volatile in 2023, with the FTSE 100 index down by around 5% year-to-date. However, there have been some notable winners among UK stocks, with several companies posting double-digit gains.

Here are the top five gainers in the UK stock market in 2023, as of December 13, 2023:

  1. Diageo (DGE): The global alcoholic beverages company has seen its stock price rise by 26% this year, thanks to strong demand for its products in key markets such as the US and China.
  2. Hikma Pharmaceuticals (HIK): The generic pharmaceutical company has seen its stock price rise by 25% this year, as it benefits from rising demand for its products in the Middle East and Africa.
  3. Rio Tinto (RIO): The mining company has seen its stock price rise by 24% this year, as it benefits from strong demand for metals such as iron ore and copper.
  4. Johnson Matthey (JMAT): The specialty chemicals company has seen its stock price rise by 23% this year, as it benefits from strong demand for its products in the automotive and electronics industries.
  5. BP (BP): The oil and gas company has seen its stock price rise by 22% this year, as it benefits from rising oil prices.

These gains are being driven by a number of factors, including:

  • Strong economic growth in key markets: The UK economy is expected to grow by 3.5% in 2023, which is helping to drive demand for goods and services.
  • Rising inflation: Inflation in the UK is currently at 9%, which is boosting the earnings of companies that are able to pass on higher costs to consumers.
  • Rising interest rates: The Bank of England has raised interest rates four times in 2022, which is making it more attractive for investors to hold higher-yielding stocks.

It is important to note that past performance is not a guarantee of future results. Investors should carefully consider the risks before investing in any stock.