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Movers & Shakers - 21 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

Next FY Revenues £4.22B, +2.5% (top of consensus; Retail -7.9%, Online +14.7%, Brand +2.6%), Op profit £762.3m, +0.3% (mid-consensus; Retail -21%, Online +13.8%, Brand -0.6%), pre-tax £722.9m, -0.4% (low consensus); EPS +4.5% beats 3.6% guidance thanks to £325m of buybacks. Final div +4.7%, 2020 guidance reiterated. High street challenging, offset by Online strength.

Halma sees FY adj. pre-tax profit in-line with expectations, with strong cash generation. Reports strong UK/US growth and more moderate Europe/Asia growth. Order intake ahead of last year. Notes some FX tailwinds in H2, offsetting H1 headwinds. M&A integration progressing well.

Persimmon launches homebuyer “retention” plan, the first major housebuilder to offer a 1.5% retention of total home value by the buyer’s solicitor (£3.6K on average) until any build quality faults are rectified. New standard contract clause expected in place by end-June.

Reuters reports the EU will give an antitrust warning about Vodafone’s €19bn acquisition of Liberty Global assets in Germany, Hungary, Romania and the Czech Republic.

Ted Baker FY group revenue +4.4%, pre-tax profit -26.1% (-14.3% pre-exceptional). UK/Europe retail +4.6%, North America +4.7%, RoW +4.7%, Online +20.4%. Final dividend -6% (FY: +2.5%) Notes £12.1m exceptional items due to retail impairments, unrecoverable House of Fraser balances and costs of investigation against ex-CEO. 2019 store expansion capex expected +2.3%.

IG Group Q3 group revenue -12% YoY (UK -16%, EU -13%, US -11%, APAC -9%). Clients +1% YoY. ESMA Region Professional client revenue -20% (client numbers flat), Non-pro -4%. Reiterates FY guidance for lower revenues and flat costs. Expects to maintain flat dividend.

Renishaw cuts revenue guidance by 6-7% and adj. Pre-tax profit by 15-16%. H1 slowdown in Asian growth for encoder products and from large end-user manufacturers is expected to persist in H2.

 

(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
KINGFISHER KGF -5.8% 2.4% -5.8%
INMARSAT ISAT 14.9% 19.9% 14.9%
KIER KIE -11.3% 0.1% -12.8%
IQE IQE -15.2% -4.9% -19.7%
PARAGON BANKING PAG -0.8% 1.4% -1.1%
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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
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