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16 November 2017

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.

 

GlaxoSmithKline plc (GSK)

Index: FTSE 100

Sector: Pharmaceuticals & Biotechnology

Market Capitalisation: £64,295.43m

Pharmaceutical giant GlaxoSmithKline has seen its shares fall to their lowest level for almost 2 years, despite reporting 4 per cent sales growth in the third quarter to £7.8bn. However, the group faced a number of broker downgrades with particular concerns over the sustainability of its dividend. This concern stems from comments made by chief executive Emma Walmsley, who confirmed the group’s interest in the consumer division of rival firm Pfizer and said that it “would be irresponsible” to commit to long-term dividend sustainability.

 

Marks & Spencer plc (MKS)

Index: FTSE 100

Sector: General Retailers

Market Capitalisation: £5,012.29m

Shares in retailer Marks & Spencer have slumped to fresh lows, but not all investors were disappointed with the group’s recent trading statement, with some taking the opportunity to buy the stock. For the 26 weeks to the end of September, the group reported a 2.6 per cent rise in revenues to £5.13bn, but profit before tax and adjusted items declined by 5.3 per cent to £219.1m. Investors were particularly concerned by the headwinds faced in the group’s Food business, which has been the main driver of growth for Marks & Spencer in recent years.

 

WPP plc (WPP)

Index: FTSE 100

Sector: Media

Market Capitalisation: £16,009.16m

Shares in WPP, which provides advertising and marketing services, have fallen to their lowest level since 2014 and continue to be out of favour with investors. At the end of October, the group lowered its full-year expectations for the third time this year, following a 2 per cent fall in third-quarter like-for-like revenue. The group is suffering a slowdown in most of its regions, particularly North America, as a result of big brands cutting their marketing spending. The group is now expecting flat like-for-like sales growth, down from a previous estimate of between 0 and 1 per cent.

 

Top Trades is published every fortnight in Equity Insight, a newsletter written by our stockbrokers and investment managers. It provides free market commentary, a focus on individual sectors, technical analysis, potential trading opportunities and share reviews. Register now for your complimentary issue.

 

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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