This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
This week’s FTSE 100 winners and losers range from losses of almost 8% to gains of over 15%.
On the positive end of the scale we have Burberry. Its shares soared over 15% on Tuesday thanks to its results being well received. Investors applauded the turnaround plan and new collection, and a 4% increase in revenue, year on year.
British American Tobacco and Imperial Brands benefited from results by sector peer Philip Morris and falling bond yields making big tobacco dividend yields more attractive. Consequently, BATS and IMB rallied 5-6%.
Copper miner Antofagasta, received a welcome windfall in the form of $6bn in damages for a blocked mining project in Pakistan. Shares led the sector by nearly 6% for the week.
Whilst Thomas cook has its troubles, rival airline TUI has benefited from the fall out. A near 6% rise this week has signalled maybe loyal Thomas Cook passengers, are ready to jump planes!
Silver miner Fresnillo has led the laggards, with the company slashing production guidance for the year and after hitting delays and poor-quality ore. CEO Ocativia Alvidrez expected that 2019 would be challenging, and reiterated his cautious outlook. Shares down 7.5%.
WPP gave up over 5% this week as sector peer Publicis cuts full-year guidance, just to reiterate how fragile the UK advertising industry is at the moment. Could WPP be next one on the line to do the same?
Finally, software giant Micro Focus was another drain on the index. Chairman Kevin Loosemore, dumped 650,000 shares (half of his holding), profiting him an estimated £11.6m. This was coupled with the company announcing a $200m share buyback program between now and 23rd October.
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Enjoy a hopefully sunny weekend.
Amrit Panesar, Trading Floor Manager, 19 July 2019
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