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07 November 2019

Redmayne Bentley's Top Trades

Below, we 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 (GSK)
Index: FTSE 100
Sector: Pharmaceuticals
Market Capitalisation: £85,919.12m

Third-quarter reporting from Glaxo followed that of its rival, AstraZeneca, which reported earlier last week. The company raised its annual earnings outlook for the second consecutive quarter and reported group sales up 11% to £9.4bn, beating analysts’ expectations of £9bn. Furthermore, annual EPS guidance was upgraded to “around flat” at constant exchange rates, compared with the decline of 3%-5% previously expected. Glaxo had already raised its guidance in the half-year results, from a drop of 5%-9%. Shares are up c.15% over the past 12 months, and currently trade at 15x P/E, while yielding an attractive c.4.5%.
 

M&G (MNG)
Index: FTSE 100
Sector: Life Insurance
Market Capitalisation: £5,605.4m

Following its spin-off from Prudential earlier this month, M&G has enjoyed a stable start to life as a separate company, with shares remaining relatively constant, between 201p and 229p. M&G is regarded as the income stock and manages savings and investments for individuals as well as institutional investors. The group has a footing in 20 locations, serving 28 geographical markets, including the US, Asia and South Africa. The company has set a capital generation target of £2.2bn by the end of 2022, which should help it to hit analysts’ 8% dividend yield target.
 

BP (BP.)
Index: FTSE 100
Sector: Integrated Oil & Gas
Market Capitalisation: £104,511.32m

With both oil conglomerates reporting this week, the jury was out to see which company was able to please investors. BP saw a loss of US$351m in its third-quarter reporting, with Hurricane Barry and lower oil prices contributing to this poor set of results. That being said, the company reported better underlying profits than expected, namely US$2.3bn, largely due to the strong performance in the group’s refinery and marketing division.
 

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 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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