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02 August 2018

Redmayne Bentley’s Top Trades

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.
 
VODAFONE (VOD)
Index: FTSE 100
Sector: Mobile Telecommunications
Market Capitalisation: £49,722.07m
 
Weakness in Italy and Spain, coupled with adverse currency movements, led to Vodafone reporting a 5% fall in revenue for the first quarter of 2018/19. However, the group’s expectations for the year remain unchanged, reiterating earnings growth of 1% - 5%, due to revenue growth in the second half of the financial year and the benefits of cost efficiencies coming through. Outgoing Chief Executive Vittorio Colao said that the group’s overall performance “provides us with confidence to reiterate our outlook for the year”.
 
GLAXOSMITHKLINE (GSK)
Index: FTSE 100
Sector: Pharmaceuticals & Biotechnology
Market Capitalisation: £78,288.69m
 
In its recent results statement, GlaxoSmithKline said that it had seen “an encouraging first half-year of trading”. It has raised its guidance for the full year, expecting adjusted earnings per share growth of 7% - 10% at constant exchange rates compared to a previous forecast of 4% - 7%. The group has also announced “a major restructuring programme”, with the target of cutting costs by £400m a year by 2021. GSK has also made a US$300m equity investment in the gene profiling service 23andMe, which it hopes will fuel drug target discoveries.
 
BRITISH AMERICAN TOBACCO
(BATS)
Index: FTSE 100
Sector: Tobacco
Market Capitalisation: £95,706.06m
 
British American Tobacco reported a better-than-expected 31% rise in pre-tax profit for the first half of 2018, posting a profit of £3.97bn. After benefiting from currency movements last year, BATS said that foreign exchange had an 8% impact on first-half profitability and estimate a 5% - 6% hit for the full year. The group said that it had outperformed the industry and had grown its market share by 40 basis points. Chief Executive Nicandro Durante said the group “expects another good year of adjusted earnings growth at constant rates of exchange”.
 
Top Trades is published every fortnight in Equity Insight, a newsletter written by our stockbrokers and investment managers. It provides market commentary, a focus on individual sectors, technical analysis, potential trading opportunities and share reviews.
 
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.
Redmayne Bentley’s Top Trades
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