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
IAG issues goals for 2019-23; average EBITDAR of €7.2B per annum (10% above 2018-22 target), Average Seat KM (ASK) growth of 6% (100bp higher), net average CAPEX €2.6B (23.8% higher). No change to 15% ROIC target, 12-15% operating margin, EPS +12% or €2.5B free cash flow.
Paddy Power Betfair Q3 like-for-like revenues pro-forma (incl. Fanduel) +8% YoY, EBITDA flat (+6% ex-US sports betting losses + tax changes). Online revs +15%, Retail -4%. FY EBITDA (pre £25m-US Sports betting costs) guidance £465-480m (vs £460-480m prev). Estimates £115m earnings hit from upcoming regulatory changes.
TP ICAP Q3 like-for-like revenue +1% YoY (+3% YTD). Market conditions mixed, global broking +3%, data & analytics +7%, institutional services +7%. Energy & commodities challenging (-2%). FY revenue seen in-line with guidance. Acquires US group Axiom Commodity for $29.1m.
Millennium & Copthorne Hotels Q3 pre-tax profit -38% on revenues -3.8% Rev Per Available Room (RevPAR) -2.8% or -1.6% at constant FX), down in all regions ex-Australia, hurt by expanding supply, tech disruption, consolidation, labour costs, exacerbated by Brexit and trade concerns.
(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
| Stock | Code | Close | High | Low |
| BHP BILLITON | BLT | 5.2% | 6.2% | 2.9% |
| BT | BT/A | 7.2% | 9.7% | 2.4% |
| ROYAL DUTCH SHELL B | RDSB | -0.5% | 3.5% | -1.1% |
| JUST EAT PLC | JE/ | 10.1% | 11.6% | 0.0% |
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Prepared by Michael van Dulken, Head of Research