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08 June 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.

BARRATT DEVELOPMENTS (BDEV)
Index: FTSE 100
Sector: Household Goods & Home Construction
Market Capitalisation: £5,803.92m

Shares in Barratt Developments have drifted lower this year, having peaked at a ten-year high of 700p last October. In a trading statement last month, the housebuilder reported a “strong performance”, with demand for  its high quality new homes remaining “robust” in the first part of the year, aided by “an attractive lending environment”. Total forward sales as at 6th May 2018 were up 2.5% on the previous year to a record £3.28bn. Consequently, the group is confident for its outlook for the full year, which “remains in line with the Board’s expectations”.

EASYJET (EZJ)
Index: FTSE 100
Sector: Travel & Leisure
Market Capitalisation: £6,897.52m

easyJet shares have climbed to a near three-year high recently, just shy of 1800p. The group reported a “strong performance” in the six months to the end of March, helped by higher load factors. This represented one of easyJet’s “best results ever in the winter trading period”, with total revenue up by 19.5% to £2.18bn and revenue per seat up 10.9%. Meanwhile, forward bookings were reported to be ahead of last year as the airline guided towards headline pre-tax profit for the full year to the end of September of between £530m and £580m.

NATIONAL GRID (NG)
Index: FTSE 100
Sector: Gas, Water & Multiutilities
Market Capitalisation: £27,852.80m

National Grid reported a 4% rise in underlying pre-tax profit to £2.68bn for the year to the end of March, following a strong performance in its UK and North American businesses. This was achieved despite costs relating to North American storm damage, which impacted the group’s headline profit figure. However, the group is confident of its outlook and increased its dividend by 3.75% to 45.93p per share. Chief Executive John Pettigrew said: “Looking ahead, National Grid expects growth at the top end of the 5% to 7% range for the medium term, and at least 7% in the near term.”
Redmayne Bentley’s Top Trades
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