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29 March 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.
 
SIRIUS MINERALS (SXX)
Index: FTSE 250
Sector: Mining
Market Capitalisation: £965.17m
 
Sirius Minerals has received a major boost after a global financial institution emerged as a potential backer for the US$3bn project. The Woodsmith mine is the largest mine to be built in the UK for a generation and could employ around 1,000 people after construction. Sirius has been trying for several years to secure further finance for the project but has struggled to gain support, despite Theresa May’s endorsement. Analysts have identified JP Morgan, the company’s broker, as the likely backer. Shares in Sirius Minerals jumped 9% on the news.
 
NEXT (NXT)
Index: FTSE 100
Sector: General Retailers
Market Capitalisation: £7,558.14m
 
In Next’s recently published annual results Chief Executive Lord Wolfson stated that Next has seen no evidence that the UK’s looming departure from the EU has impacted consumer confidence. He added that consumer behaviour will only materially change if the UKs departure from the EU begins to weigh on employment, earnings or prices, which is yet to be the case. Furthermore, Lord Wolfson suggested
a no-deal Brexit would reduce the retailer’s costs by £12m-£15m given their non-EU supply chain, adding that such cost savings would be passed onto its customers.
 
GLENCORE (GLEN)
Index: FTSE 100
Sector: Mining
Market Capitalisation: £43,175.23m
 
Glencore is in talks to sell its Cobar copper mine in Australia for US$575m to Aeris Resources. Glencore previously attempted to sell the copper mine, which has ore reserves of around ten years, in the brutal 2015 commodity market downturn before the subsequent commodity rally resulted in the
company pulling the sale. The proceeds from the sale, if successful, will go towards funding the business’ US$2bn share buyback programme. Chief Executive Ivan Glasenberg believes this is the best investment the business can make due to lack of attractive acquisition opportunities.
 
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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