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.L), Lloyds (LLOY.L) Royal Bank of Scotland (RBS.L) – FCA has set a deadline for new PPI complaints of Aug 29, 2019. Closing Prices 232.90p, 68.84p, 243.90p (Reuters)
BP (BP.L), Cairn Energy (CNE.L), Royal Dutch Shell (RDSb.L), Tullow Oil (TLW.L), Premier Oil (PMO.L) - Oil fell for a third consecutive session as a record build-up in U.S. stockpiles weighed on the market, with producers boosting shale oil production. OPEC figures for production actually increased m-o-m from January to February even with a 93% compliance rate on members cutting production. Closing prices 464.60p, 218.80p, 2227.50p, 272.20p, 65.25p (Reuters)
Capita (CPI.L) – CEO Andy Parker is to step down later this year. Reports beat of full year adjusted revenue estimates, £4.90bn generated against estimates of £4.80bn, also beating the anticipated range of £4.75bn-£4.85bn although operating profit came in short by 7% on forecast. Closing price 565.00p (Bloomberg)
Cobham PLC (COB.L) - Says it will conduct a fully underwritten rights issue by Bank of America Merrill Lynch, JP Morgan & Barclays to raise approximately £500m in gross proceeds in Q2. Closing price 122.20p (Bloomberg)
Melrose Industries (MRO.L) – Full-year revenue more than tripled, helped in part by its acquisition of U.S. ventilation and home security products maker Nortek Industries. Revenue jumped 240.6% to £889.3m. 2016 statutory loss before tax widened to £69.3m from £30.7m a year earlier, hurt by higher trading and non-trading costs. Chairman cites challenging environment. Closing Price 218.50p (Reuters)
Schroders (SDR.L) – Full-year pretax profit was up 5% from £589m in 2015, helping underpin a final dividend of 64pp share, to take the total dividend for the year to 93p. Assets under management were £397.1bn up 27%, helped by a £42bn boost as a result of weakness in the value of sterling after EU vote. Client inflows and acquisitions helped boost total assets to a record high. Closing Price 3124p (Reuters)
Travis Perkins (TPK.L) – Say full year earnings missed expectations of 120.4pp share vs estimates of 122.2pp share. Sales marginally beat estimates, however outlook is weak due to the value of Sterling falling and has created cost pressures on imported goods and materials, and the expectations for secondary housing market transactions and growth are weak. Closing price 1565.00p (Bloomberg)
For more information on any of these individual news items, call into the trading floor
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