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
Meggit PLC (MGGT.L) – Raises its organic revenue growth in 2018 to 4-6% up from 2-4% earlier, helped by a stronger than anticipated trading in Q2, but cuts guidance for margins (17.7% vs 18%). Closing price 496.74p (Reuters)
Plus500 Ltd. (PLUS.LN) - Raised its earnings outlook for 2018 following a strong performance in Q2. Results were buoyed from U.S. import tariffs generating higher-than-expected levels of market volatility. It continues to diversify revenues outside the EEA [European Economic Area], reflecting its new licenses, especially in Singapore. Closing price 1617.50p (Dow Jones Newswire)
Vedanta Resources Plc (VED.L) – Its chairman Anil Agarwal's family trust Volcan Investments has agreed to buy the rest of Vedanta in a deal that values the mining conglomerate at £2.3bn The offer of 825pp share represents a 27.6% premium to its Friday close. Closing price 648.20p (Dow Jones Newswires / Reuters)
Micro Focus International PLC (MCRO.L) - Has agreed definitive terms to sell its Linux operating system SUSE business segment to Blitz 18-679 GmbH which is advised by EQT Partners, for a total cash consideration of $2.535bn to reduce its debt on a cash and debt free basis. Closing price 1326.00p (Dow Jones Newswire)
Tesco PLC (TSCO.L) – Tie-up with Carrefour in a three year strategic alliance. The two will enter in to a long term agreement to cover global suppliers, joint purchasing on own brand products. The formal agreement will complete over the next two months. Closing price 258.27p (Dow Jones Newswires)
(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
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Prepared by Michael van Dulken, Head of Research