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9 March 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: £810.83m
Senior supplies parts predominantly into the aerospace and automotive industries. Its 2016 results reflected a difficult year, with adjusted operating profit down 21 per cent and adjusted earnings per share decreasing by 24 per cent. However, the group has proposed a rise in total dividend of 6 per cent to 6.57p per share. The outlook remains subdued, with the Aerospace division expected to perform broadly in line with last year, while the struggling Flexonics division is forecast to be marginally lower in 2017. Despite the guidance, investors were buying the shares.
Market capitalisation: £48,580.88m
The full-year pre-tax profit from Lloyds Banking Group more than doubled to £4.2bn, as provisions dropped showing that there is light at the end of the tunnel regarding mis-selling charges. There is an expectation of increasing revenues going forward, which will be required to meet the bank’s cost-income target of 45 per cent by the end of 2019. Chief executive António Horta-Osório said it “is an ambitious target… but we are very confident we are going to achieve it”. A full-year dividend of 2.55p per share and a special dividend of 0.5p have been proposed.
Market capitalisation: £22,040.34m
WPP reported record revenues of £14.4bn for its 2016 financial results, while pre-tax profit increased by 12.5 per cent to £1.89bn. The group’s key measure of like-for-like net sales showed an increase of 3.1 per cent, but it warned that this measure would fall to 2 per cent for 2017. To compound the disappointment it also announced the loss of 2 major clients. Chief executive Sir Martin Sorrell said: “We are seeing generally slow growth, with little inflation, despite what’s happening with Brexit. That means therefore a focus on costs, and that all ends up with more caution.”
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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