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23 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: Aerospace & Defense
Market capitalisation: £ 1,900.85m
UK aerospace and defence group Cobham issued its fifth profit warning in less than two years last week, forcing its shares to slump to their lowest level since 2005. The group cut its full-year underlying trading profit guidance to £225m, having guided towards £245m just last month. The £20m reduction came as a result of an “extensive balance sheet review”, and included bad debt charges and IT security expenditure. Despite this disappointing news, some investors looked to capitalise on the significant share price drop.
Sector: Travel & Leisure
Market capitalisation: £ 2,048.56m
Pub company Greene King issued a strong Christmas trading update earlier this month. Like-for-like sales over the 3 Christmas weeks were up 4.5 per cent, driven by particularly strong growth in London. Furthermore, the group once again broke its Christmas day record, with sales up 6 per cent to £7.4m. Looking ahead, the group said: “We are confident that the combined strength of our brands, pubs, people and cash generation leaves us well placed to deliver another year of progress, value creation and returns for our shareholders.”
Sector: Personal Goods
Market capitalisation: £ 48,655.94m
Shares in consumer goods giant, Unilever, surged last week following a US$143bn takeover bid for the group from Kraft Heinz. The offer represented an 18 per cent premium to the share price of Unilever the day before the bid, and sent shares to a record high of 3797p. However, Unilever declined the proposal, commenting that it “saw no merit, either financial or strategic” in the offer. Just two days later, Kraft Heinz abandoned its offer, saying in a joint statement with Unilever that it had “amicably agreed to withdraw its proposal for a combination of the two companies.”
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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