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13 September 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.

BT (BT.A)
Index: FTSE 100      
Sector: Fixed Line Telecommunications
Market Capitalisation: £17,096.12

BT are currently undergoing a widescale overhaul of its business, seen explicitly through the sale of the group’s historic London headquarters for £209.6m to a London-based private equity firm, together with the loss of around 750 jobs. In brighter news for the telecommunications giant, BT’s Chief Executive visited Downing Street to deliver proposals for the implementation of nationwide full-fibre broadband by 2025, providing BT with a springboard on which to develop and succeed. Latest results were meagre; overall revenue was down 1% year-on-year with pre-tax profits decreasing to £642m, from £704m a year earlier.
 
 
GLAXOSMITHKLINE (GSK)
Index: FTSE 100
Sector: Pharmaceuticals
Market Capitalisation: £82,311.07m

UK pharma group, GlaxoSmithKline (GSK), has seen positive progress on its production line, witnessing a 23% rise in vaccine turnover in the three months to July. Overall revenues increased by 5%, while pre-tax profits were up 111% to £1.3bn. Of note was the company’s two-drug HIV treatment and Shingrix, a shingles vaccine, which experienced strong interest in the US. However, GSK is also under the microscope over the employment status of nearly 1,500 so-called self-employed workers, which could possibly impact the firm’s tax accountability.
 
 
METRO BANK (MTRO)
Index: FTSE 250
Sector: Banks
Market Capitalisation: £498.98m

Metro Bank is still reeling from the £900m misreporting scandal which rocked the lender earlier this year. Talk of relegation from the FTSE 250 is rife, despite customers ranking the bank top for personal banking services, second for business banking and third for mobile retail banking services. Moreover, upheaval in the management department has failed to cool investor worries; Company Chairman, Vernon Hill, is due to depart, while executive David MacLean is on his way to start-up rival Revolut. Shares are down c.83% year-to-date.
 
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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