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28 February 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.
 
PROVIDENT FINANCIAL (PFG)
Index: FTSE 250
Sector: Financial Services
Market Capitalisation: £1,540.48m
 
Provident Financial has rebuffed a hostile takeover approach from Non- standard Finance. The bid was led by Provident’s former Chief Executive, John van Kuffeler, and was backed by its largest shareholders. These include Fund Manager Neil Woodford, who has a stake in both companies. Provident has endured a difficult trading period of late, issuing three profit warnings in the past 18 months. Mr van Kuffeler ran Provident for 22 years up until 2013 and believes his management skills are required to help nurse the doorstep lender back to health.
 
SAINSBURY’S (SBRY)
Index: FTSE 100
Sector: Food & Drug Retailers
Market Capitalisation: £5,088.09m
 
Sainsbury’s planned takeover of Asda appears to have been blocked by the Competition and Markets Authority (CMA) after the regulator announced it has “extensive concerns” over the deal based on its preliminary findings. Both companies disagree with the CMA’s findings and plan to continue making
their case up until the final ruling, due on April 30th. However, experts believe that it is unlikely the deal can now be salvaged as the assumptions made by the two companies are so far away from the CMA’s findings. Sainsburys shares closed down 15% in response to the news.
 
ASTRAZENECA (AZN)
Index: FTSE 100
Sector: Pharmaceuticals & Biotechnology
Market Capitalisation: £79,611.98m
 
AstraZeneca achieved its first year of sales growth since 2009 following continued strong performance into the final quarter of 2018. The drug maker delivered an 8% rise in product sales, which led to shares shooting up 7% upon the announcement. Pascal Soriot, the company’s Chief Executive, is confident the business can continue to grow “for the next five or six years” due its strong product portfolio. The company also stated that it would be focusing on generating more cash to cut debt levels and increase its dividend at the “earliest possible opportunity”.
 
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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