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19 July 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.
 
DART GROUP (DTG)
Index: AIM
Sector: Travel & Leisure
Market Capitalisation: £1,455.52m
 
Shares in Leeds-based aviation services company Dart Group soared last week, after it posted a 49% rise in pre-tax profit to £134.6m for the year to the end of March. The group was boosted by strong passenger numbers and rising demand for its Leisure Travel products. Investors were especially cheered by the Jet2 owner’s outlook, as it said that it expects its annual profit for the 2019 financial year to substantially exceed market forecasts. The group expressed its confidence by increasing its final dividend by 54% to 6p per share.
 
INMARSAT (ISAT)
Index: FTSE 250
Sector: Mobile Telecommunications
Market Capitalisation: £2,527.57m
 
Inmarsat fell out of favour with investors last week as US satellite company EchoStar abandoned its takeover approach for the group. Having made an approach in May, EchoStar made an improved bid of £3.2bn in cash and shares for its British rival. However, Inmarsat deemed this to “significantly” undervalue the business, despite it valuing the group at 532p a share, which was a 46% premium to Inmarsat’s share price the day before EchoStar’s May bid. EchoStar is not the only company interested in Inmarsat, as French group Eutelsat considered an offer last month.
 
MICRO FOCUS (MCRO)
Index: FTSE 100
Sector: Software & Computer Services
Market Capitalisation: £5,556.91m
 
Shares in Micro Focus fell 9% on Wednesday last week after Chairman Kevin Loosemore admitted that, despite “improved momentum”, the integration of Hewlett Packard Enterprise’s (HPE) software business, was “approximately one year behind our original plan”. Micro Focus completed the US$8.8bn
reverse takeover of HPE last year, but the difficulties in overcoming the cultural differences between the groups has been well documented. For the six months to the end of April, Micro Focus suffered a pre-tax loss of US$68.5m.
 
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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