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06 December 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.
 
COBHAM (COB)
Index: FTSE 250
Sector: Aerospace & Defense
Market Capitalisation: £2,424.48m
 
In a trading statement last month aerospace and defence group Cobham revealed that its “performance in the first ten months of the year has been as expected” and that its turnaround programme “continues to make good progress”. The group has been helped by a stronger underlying operating profit performance in Mission Systems and Communications and Connectivity which has offset weaker performances in Advanced Electronic Solutions and Aviation Services. As such, the Board expects full-year 2018 performance to be in line with that set out in its interim results.
 
JOHNSON MATTHEY (JMAT)
Index: FTSE 100
Sector: Chemicals
Market Capitalisation: £5,418.94m
 
Johnson Matthey was in favour with investors last week after it revealed better-than-expected earnings for the six months to September. Sales over the period rose 10% to £7.1bn, leading to an underlying operating profit of £271m, up 8%. Chief Executive Robert Macleod said: “We had a good half, delivering double digit sales and operating profit growth. I am pleased with the progress we are making on implementing our strategy and delivering solutions for our customers…”. The group signalled its confidence by raising the interim dividend by 7% in line with medium-term guidance.
 
MAJESTIC WINE (WINE)
Index: FTSE AIM All-Share
Sector: General Retailers
Market Capitalisation: £191.52m
 
For the 26 weeks to 1st October, Majestic Wine reported revenue growth of 5.4%, helped by a good performance from Naked Wines, which achieved underlying revenue growth of 14%. However, profit was down slightly, as the group increased investment to acquire new customers and improve its online and international presence. Chief Executive Rowan Gormley commented that the group is “doing well in a tough market.” However, investors did not take kindly to the news of reduced profits with the result that shares fell to their lowest level since 2010.
 
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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