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15 March 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.
 
CONVIVIALITY (CVR)
Index: FTSE AIM All-Share
Sector: Food & Drug Retailers
Market Capitalisation: £177.29m
 
Drinks distributor Conviviality saw its shares slump dramatically last week after it announced that it now expects adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the current financial year to be around 20% below market expectations. The group identified two reasons for this, admitting to “a material error in financial forecasts” and weaker margins in January and February, which the group expects to continue for the remainder of the financial year.
 
ROLLS-ROYCE (RR.)
Index: FTSE 100
Sector: Aerospace & Defense
Market Capitalisation: £16,616.43m
 
Engineering group Rolls-Royce pleased investors with the publication last week of an upbeat set of full-year 2017 results. The group reported underlying pre-tax profits of £1.1bn, up from £813m in 2016, ahead of expectations, whilst free cash flow also beat forecasts, coming in at £273m. Commenting on the results, Chief Executive Warren East said: “We are encouraged by the improving financial performance in 2017 with growing revenues contributing to improved profitability and cash generation.”
 
SMURFIT KAPPA (SKG)
Index: FTSE 100
Sector: General Industrials
Market Capitalisation: £7,421.54m
 
Investors sought to take profits in Europe’s largest cardboard box maker Smurfit Kappa as shares soared to an all-time high, following news that it had been bid for by the world’s largest paper and pulp company International Paper. However, the board of Smurfit Kappa unanimously rejected the unsolicited cash and share offer, later revealed to be worth €8.64bn, describing the approach as “fundamentally opportunistic and conditional”, adding that “it does not reflect the group’s intrinsic business worth or its prospects”.
 
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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