This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
The below stocks have been identified as having potential to register bigger than normal share price moves (up or down) today based on the news cited
Barclays (BARC) – Reported a 20% dip in first-half pretax profits despite improved returns in its core business, as the costs of selling and shrinking the bank’s unwanted assets in a harsh economic environment took its toll on earnings. Posted a half-year profit before tax of £2bn compared with £2.6bn for the same period a year ago. They also cut dividend to 1.0p Vs 2.0p. Closing price 154p. (Reuters)
International Consolidated Air (IAG) – Posted a lower than expected quarterly operating profit and said it expected 2016 profit to rise by a “low double digit” percent after attacks, strikes and Britain’s vote to leave the European Union impacted travel demand and hit results. Initially forecast in February that it would grow 2016 profit by more than 900m euros, equivalent to a 4% rise on last year’s result, but after the Brexit vote on June 23, it said it no longer expected such a big increase. Closing price 409.3p. (Reuters)
Foxtons (FOXT.L) – Foxtons blamed a 42% drop in its first-half profit on Britain’s EU referendum, saying it led to a fall in transactions which is likely to last until the end of the year. Closing Price 124p (Reuters)
For more information on any of these individual news items, call into the trading floor
This research is produced by Accendo Markets Limited. Research produced and disseminated by Accendo Markets is classified as non-independent research, and is therefore a marketing communication. This investment research has not been prepared in accordance with legal requirements designed to promote its independence and it is not subject to the prohibition on dealing ahead of the dissemination of investment research. This research does not constitute a personal recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.
Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance. Prepared by Michael van Dulken, Head of Research