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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
Glencore PLC (GLEN.L) – Will issue a share buyback for as much as $1bn of its shares, which may marginally placate investor sentiment post a US DoJ subpoena probe this week. Closing price 318.20p (Bloomberg)
Purplebricks Group PLC (PURP.L) Saw revenue nearly doubled in the year to April 30, , as it drew market share from traditional players and entered new markets including a handful of U.S. states. Full-year revenue climbed to £93.7m from £46.7m the year before. Closing price 323.20p (Reuters)
Associated British Foods PLC (ABF.L) - Revenue momentum of H1 continued in Q3 and group revenue from continuing businesses for the 40 weeks ended 23 June 2018 was up 3% y-o-y and 2% ahead at actual exchange rates. Excluding Sugar, a consequence of lower EU sugar prices but increased profit from Primark driven by higher margins, sales growth from continuing businesses was up 6% y-o-y. Closing price 2718.00p (Dow Jones Newswires)
Bovis Homes PLC (BVS.L) – Expects to deliver a significant step up in profitability for H1, delivering a total of 1,580 Completions In H1 compared with 1,512 y-o-y with average home prices climbing marginally y-o-y. Group sales climbed 8%. The company expects average active sites to increase in H2. Closing price 1121.00p (Reuters)
Lloyds Banking Group PLC (LLOY.L) - Offers £76m to victims of a fraud at its HBOS Reading unit, with 170 former directors of companies impacted by the fraud have so far been offered compensation, 134 have accepted, Russel Griggs is overseeing the bank’s compensation process. Closing price 62.32p (Reuters)
Persimmon PLC (PSN.L) - Reported a 5% rise in H1 revenue which was driven by a 1.2% rise in average home prices. With total revenue climbing to £1.84bn up from last year’s figure of £1.75bn in H1 of 2017. Closing price 2479.00p (Reuters)
(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