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Movers & Shakers - 20 March 2019

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

Kingfisher FY Sales +0.3% (-1.6% like-for-like), in-line; Gross margin flat; Retail profit -11.3%, adj. pre-tax profit -16.1% (£573m beats £554m est); Lease adj. return on capital -70bp; div flat; CEO succession process launched but no date set. Targets med- term growth but flat 2020 gross margin; adding to Screwfix UK, reducing in Germany, addressing France underperf; UK market uncertain

Inmarsat is considering a $3.3bn bid from a private equity consortium (Apax, Warburg Pincus, Canada Pension Plans); 23% premium to UK close after FX; US shares were +25% in late trading.

Kier Group H1 underlying revenue +2% YoY, swung to a £35.5m pre-tax loss (from £34.3m profit) after £59.9m non-underlying charges. Cuts interim dividend -78.7%. Delivered £4m cost savings and expects £20m FY net savings. FY guidance unchanged, with results H2-weighted.

IQE 2018 revenues +1.1% (Wafers +2.4%); Wafer Gross Profit -12.2%; EBITDA -28.9%, op profit -39.6% (wafers -35%), pre-tax profits -43%; CAPEX +22%, cash generation -43%; net funds -54%; Headwinds (inventory unwound, general semiconductor market softness) to impact H1 2019.

Paragon Banking said the transition to IFRS 9 accounting standards would result in a £27.2m increase in impairment provisions. Asset value -0.2%, equity -2% and Tier 1 capital ratio -0.3%.

(Sources: Company newswires, Bloomberg, CNBC, FT, Reuters, Wall Street Journal)

For more information on any of these individual news items, call into the trading floor

Prior day's Movers & Shakers:

Stock Code Close High Low
SAINSBURY (J) SBRY 5.9% 8.3% 5.1%
EVRAZ EVR -2.0% -2.0% -5.7%
JOHN WOOD WG/ -4.7% 0.5% -7.6%
OCADO OCDO 7.8% 8.4% 1.2%
ANTOFAGASTA ANTO 4.5% 6.7% 3.0%
FERREXPO FXPO -1.0% 1.1% -9.6%
ASOS ASC -5.4% 0.8% -11.4%
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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
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