Share Prices & Company Research


08 September 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.

Indivior (INDV)

Index: FTSE 250

Sector: Pharmaceuticals & Biotechnology

Market Capitalisation: £2,110.44m

Specialty pharmaceuticals group Indivior PLC was hit with a £1bn drop in value due to losing its heroin treatment patent case. A Delaware court ruled that drug maker Dr Reddy’s had not infringed its patents, paving the way for the launch of rival treatments. Indivior expressed intent to appeal against the ruling, with chief executive Shaun Thaxter saying: “Today’s news is disappointing…given the belief that the company has in its intellectual property for Suboxone Film”. The group warned that the ruling could lead to an 80 per cent reduction in market share for the treatment.

Melrose (MRO)

Index: FTSE 250

Sector: Industrial Engineering

Market Capitalisation: £3,994.24m

Shares in Melrose slid recently following its interim results. Investors seem particularly concerned by Melrose’s Brush business which is experiencing “its toughest market conditions” since it was acquired in 2008. Melrose said that “appropriate action is being taken for the long term with all parts of the business being reviewed.” On the other hand, the group’s Nortek business achieved a record first-half performance, with an underlying operating profit 54 per cent higher than last year at £145.5m. Melrose said it remains confident of identifying further acquisitions.

Provident Financial (PFG)

Index: FTSE 100

Sector: Financial Services

Market Capitalisation: £1,170.91m

Personal credit lender Provident Financial PLC saw nearly £1.7bn wiped from its stock market value after issuing consecutive profit warnings, parting with its chief executive and cancelling a dividend. Additionally, it announced that it is facing a regulatory probe by the Financial Conduct Authority regarding a product sold to individuals who wished to freeze their credit card debt. However, investors reacted positively to the lender’s management shake-up which has seen Chris Gillespie, who ran the consumer credit arm between 2007 and 2013, reappointed.

Top Trades is published every fortnight in Equity Insight, a newsletter written by our stockbrokers and investment managers. It provides fresh 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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