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9 February 2017
Below we take a look at the most frequently traded shares through Redmayne-Bentley over the last couple of weeks and consider why they have been so popular.
Sector: Fixed Line Telecommunications
Market capitalisation: £31,001.78m
BT has been heavily traded in recent weeks as shares slumped following an announcement that it had made a £530m write-down in its Italian business due to “inappropriate behaviour”. The group had flagged the issue back in October, but the level of the write-down is far greater than originally anticipated. The group confirmed that this news will impact the full-year results for both the 2017 and 2018 financial years. Despite this, BT maintains that the dividend will be increased by 10 per cent in both years.
Sector: Food Producers
Market capitalisation: £155.16m
AIM-traded Finsbury Food has been in favour with investors recently, following a trading update for the first half of its current financial year, ended 31st December. The group said that trading over the important Christmas period had been solid, with performance in line with management expectations. Total group sales revenue for the first half was £156.6m, which was flat on the year before. This was driven by the group’s 50 per cent owned European business which grew by 31.7 per cent, offsetting a 2.9 per cent decline in the UK Bakery division.
Market capitalisation: £364.65m
The full-year 2016 results of Watkin Jones, which is engaged in the construction of predominantly student accommodation, were well received by investors. This has driven the shares to their highest level since flotation on the AIM in March last year, eventually reaching 138p. For the year to the end of September, the group recorded a 9.3 per cent increase in revenue from continuing operations to £267m, generating a record operating profit, before exceptional IPO costs, of £37.9m. In line with guidance, the board declared a final dividend of 2.67p per share.
Top Trades is published every fortnight in Equity Insight, a newsletter written by our stockbrokers and investment managers. It provides fresh market commentary, a focus on individual sectors, technical analysis, potential trading opportunities and share reviews. Register now for your complimentary issue.
Please note that investments and income arising from them can fall as well as rise in value and you may lose some or all of the amount you have invested. Past performance and forecasts are not a reliable indicator of future results or performance. Please note that this communication is for information only and does not constitute a recommendation to buy or sell the shares of the companies mentioned.
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