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06 June 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.
 
 
ROYAL DUTCH SHELL (RDSB)
 
Index: FTSE 100
Sector: Oil & Gas Producers
Market Capitalisation: £ 199,992.20m
 
The Nigerian government and Royal Dutch Shell have begun renegotiating contracts that have previously provided the Anglo-Dutch oil major billions of Dollars in revenues. Nigeria’s Minister of State for Petroleum, Emmanuel Ibe Kachikwu, stated: “We will be looking for better terms than the previous (production-sharing contracts), we would like to get better packages.” Nigeria currently operates several types of contract in conjunction with large oil companies whereby the country has an equity stake and production-sharing agreements for the deep-water blocks. The new contracts are likely to yield lower revenue levels for the firm, which could affect their financial performance in the coming years.
 
 
MARKS AND SPENCER (MKS)
 
Index: FTSE 100
Sector: General Retailers
Market Capitalisation: £4,492.92m
 
Shares in retailer Marks and Spencer (M&S) have struggled in recent months following the news that it would require a rights issue to fund its new venture with Ocado. Under the deal, each company would take a 50% share of Ocado’s retail delivery business, with M&S required to pay £750m for its stake in the deal. The offering, which gives shareholders the opportunity to purchase one M&S rights share for every five shares held at 185p, will be used to raise the funds required. This offering represents a 17.8% discount to the market price as of Friday 31st May, and long-term investors may wish to use this opportunity to pick up shares at a discount-to-market price.
 
GLENCORE (GLEN)
 
Index: FTSE 100
Sector: Mining
Market Capitalisation: £35,599.62m
 
Also making headlines this week was commodity trading company Glencore following another senior management shake-up. On 3rd June it was reported that the firm’s Head of Oil, Alex Beard, would retire this month as the company attempts to re-organise its management structure following US probes into its activities. The mining company has come under intense scrutiny this year as a result of its business practices in the Democratic Republic of Congo, where the firm produces cobalt and copper. Mr Beard will be replaced by Alex Sanna, who currently heads the oil marketing department and has been key in expanding Glencore’s refined products trading in recent years.
 
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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