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20 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.
 
INTERSERVE (IRV)
Index: FTSE All-Share
Sector: Support Services
Market Capitalisation: £16.29m
 
Interserve published an unscheduled trading update last month in which it reported that that debts will be higher than expected this year, raising the prospect of possible bankruptcy. The group is now guiding towards year-end debt of £625-£650m, from a previous estimate of £575m-£600m. Shares have subsequently fallen to their lowest level since 1984. Nevertheless, Chief Executive Officer Debbie White commented: “Following the successful completion of the refinancing in April, the business has traded robustly in some challenging markets...”
 
KIER (KIE)
Index: FTSE 250
Sector: Construction & Materials
Market Capitalisation: £634.20m
 
Shares in construction group Kier have come under pressure recently, falling to a 15-year low, after it launched a £264m emergency rights issue, warning that lenders were seeking to cut their exposure to the UK building sector. Kier offered 64.5m new shares at 409p per share, which was a 46% discount to the previous day’s closing price and reported that net debt had increased from £186m in June to £624m at the end of October. The group has contracts for the Highways Agency and the HS2 railway line.
 
SUPERDRY (SDRY)
Index: FTSE 250
Sector: Personal Goods
Market Capitalisation: £365.06m
 
Shares in clothing brand Superdry slumped last week after it issued a profit warning. However, there are signs that some investors looked to exploit the fall by buying the stock. The group said it expects annual profits to fall by up to 40% as a result of warm weather, changing consumer behaviour and economic and political uncertainty. Consequently, Superdry announced that it would diversify away from outerwear and move into childrenswear as part of a new strategy to turn the group around.
 
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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