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19 December 2019

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.
 
NATIONAL GRID (NG.)
Index: FTSE 100
Sector: Multiutilities
Market Capitalisation: £33,042.54m
 
National Grid has seen a sharp uplift in its share price following the Conservative victory in the December general election. Its worries over nationalisation, promised by the prospective Labour government, alarmed investors in the days leading up to the election. However, to the relief of those with interests in National Grid, these worries have now evaporated. This, together with the resolution of the New York gas pipeline issue earlier this month, installed some much-needed momentum behind the utility giant. Shares are up 24% year-to-date, and currently trade at 949p, yielding an attractive 5.0%.
 

OCADO (OCDO)
Index: FTSE 100  
Sector: Food Retailers & Wholesalers
Market Capitalisation: £8,737.75m
 
Ocado updated the market last week with a trading statement for the 13 weeks to December 2019. The group reported retail revenue growth of 10.8% to £429.1m, in line with guidance, while average orders per-week increased by 10.4% to 350,000. Concurrently, the average order size remained stable at £104.90. The group reported good progress in preparation for the M&S switchover in September 2020, following earlier news of Ocado’s expansion into Japan, alongside a £500m convertible bond issue to fund new robotic warehouses.
 
 
TULLOW OIL (TLW)
 Index: FTSE 250
Sector: Exploration & Production
Market Capitalisation: £919.62m
 
Tullow Oil’s shares plummeted last week following the company’s suspension of the dividend, which alongside the exit of the Chief Executive, Paul McDade, and Exploration Director, Angus McCoss, and together with the lowering of the production guidance, spooked investors. This follows the dire news for the company that the exploration in Guyana, South America, showed hard-to-process oil rather than easier crude. Shares are under serious pressure, down 62% year-to-date, and currently trade at 67p.
 
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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