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Movers & Shakers - 16 January 2014

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

Ocado (OCDO.L) – Posted gross sales growth of 21.3%, reflecting strong trading up to Christmas. Gross sales of £111.1m, up from £91.6m in the same period last year. Gross sales for the 16 weeks to 1 December 2013 were up 20.1% to £271m. Closing Price 521.00p (Reuters)

Dixons Retail (DXNS.L) – Rise in sales in the key Christmas trading period, gaining market share from rivals. Group sales at stores open over a year rose 3%. That compares with first half growth of 6%. L-f-L sales in the UK and Ireland rose 5% and were up 2% in northern Europe. Gross margin for the group fell 0.5%. Closing Price 50.40p (Reuters)

Home Retail Group (HOME.L) – Strong performance in its Christmas quarter meant it expected full-year group benchmark profit to be towards the top end of a range of market expectations of £90m to £109m. John Walden will replace Terry Duddy as CEO. Sales at Argos stores open over a year had risen 3.8%, and were up 4.7% at its Homebase DIY chain, both ahead of analyst forecasts for a 2.5% rise at both divisions. Closing Price 201.00p (Reuters)

Bovis Homes (BVS.L) – Strong increase in returns in 2013: material growth in forward order book for 2014. Order book up 77%. Said it would post a “significant” rise in profits in 2013, in line with market expectations. Profits and ROCE are both expected to show further strong improvement in 2014. Closing Price 841.00p (Reuters)

Ladbrokes (LAD.L) – Expects operating profit for 2013 to be around the middle of the current range of analysts’ forecasts of between £129.8-£151m. To hold the total dividend per share at its current level (8.90p p/sh in 2012) in 2013 and at least maintain this level in 2014. On track to deliver against its key strategic priorities during H1. Closing Price 173.00p (Reuters)

Sports Direct (SPD.L) / Debenhams (DEB.L) – SPD said it had put in place a financial structure to manage its newly-acquired exposure to DEB, which could result in its stake rising by 2% to 6.6%. SPD said on Thursday that it had disposed of the 4.6% stake in DEB and replaced it with a put option over a 6.6% stake. “Sports Direct wishes to explore options at an operational level to work together with Debenhams and is looking forward to meeting with Debenhams’ senior management team in the near future,” the company said in its statement. Closing Price 737p & 83.20p respectively (Reuters)

Halfords Group (HFD.L) – Enjoyed robust trading over the Christmas period, with the mild weather boosting demand for bikes, helping it to post a rise in third quarter sales. Closing Price 460.70p (Reuters)

Lamprell (LAM.L) – Expects performance for 2013 to be ahead of expectations. The group’s order book was valued at $0.9bn, bid pipeline approximately $4.7bn. Order intake during 2013 was lower than in previous years. Net cash position at the end of December 2013 was around $180m. Closing price 140.50p (Reuters)

Experian (EXPN.L) – Total revenue growth of 7% and organic revenue growth of 5%, good growth in the third quarter. “The full year we continue to expect modestly improved margins”.  For the full year we continue to expect cash flow conversion of at least 90%. Closing Price 1150p (Reuters)

Associated British Foods (ABF.L) – Said group revenue was flat for the 16 weeks to Jan. 4, compared to 9% growth for the financial year that ended on Sept. 24, with Primark growth of 12% helping make up for a fall of 27% for the sugar business. Closing Price 2696.00p (Reuters)

For more information on any of these individual news items, call into the trading floor

Prior day's Movers & Shakers:

Stock Code Close High Low
Taylor Wimpey TW.L -1.80% 1.62% -2.72%
Tullow Oil TLW.L 0.76% 2.34% -2.22%
Burberry BRBY.L 4.63% 7.15% 4.15%
African Barrick Gold ABG.L -0.26% 4.43% -1.74%
Genel Energy GENL.L -4.24% 0.09% -4.24%
Rangold Resources RRS.L -1.35% 0.29% -3.05%
Fresnillo FRES -1.97% 0.14% -3.52%
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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

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