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Redmayne-Bentley’s Top Trades

20 April 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.

Allied Minds (ALM)

Index: FTSE 250

Sector: Financial Services

Market capitalisation: £392.07m

Shares in Allied Minds plunged over 20 per cent after the intellectual property group announced a US$146.6m (£118m) writedown of costs through the winding down and sale of 7 of its subsidiaries. Well-known City investor Neil Woodford owns just under a third of Allied Minds, but defended the group’s “sensible” capital restructure and dismissed the fall in the share price as “short term noise.” A number of investors seem to agree as they’ve taken advantage of the share price slump to buy shares in the group.

 

Tesco (TSCO)
Index: FTSE 100

Sector: Food & Drug Retailers

Market capitalisation: £14,263.97m

Tesco shares were heavily traded last week after the supermarket giant reported its first increase in UK like- for- like sales for seven years. However, shares fell as the retailer announced a sharp fall in pre-tax profit due to the £235m charge relating to its accounting scandal. Markets continue to be challenging but the outlook remains upbeat, with the group looking to reintroduce the dividend in the current financial year. Despite opposition from some major shareholders, the deal to acquire Booker is progressing.

 

Phoenix Group Holdings (PHNX)
Index: FTSE 250

Sector: Life Insurance

Market capitalisation: £2,905.33m

Last month Phoenix Group Holdings reported a rise in operating profit from £234m to £351m for the year to the end of December 2016. The group succeeded in meeting its cash generation target of £486m, helped by the £373m acquisition of AXA Wealth’s pensions and protection businesses, completed in November, which generated £117m of cash in 2016. The group also confirmed that the integration of Abbey Life, completed in December for £933m, was also progressing well and proposed a final dividend of 23.9p per share, up 5 per cent on 2015.

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.

Contact:
Ruth Peterson
PR Executive
Email: ruth.peterson@redmayne.co.uk
Tel: 0113 200 6476

Branch: Leeds (Head Office)

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