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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
Standard Chartered FY underlying pre-tax profit $3.86B (+28.1%) misses $4B est; $15B revenues (+4.7%), in-line; Costs +3.4% cuts expense ratio; 4.6% return on equity misses 5.0% est (targets 10% by 2021); final div +36%; Net interest margin +3bps; To exit low return markets, returning excess capital via buybacks. Shares +2.5% in Hong Kong overnight.
Persimmon FY legal completions +1%, group revenue +4% (beating +1% consensus), pre-tax profit +12.9% (marginal beat), £2bn forward sales flat. Final dividend unchanged, but will pay additional 125p interim dividend. Confirmed Dave Jenkinson as CEO. 8 weeks average private sales -4% after a tough comparable (stamp duty cut). 2019 trading in-line and sees 2019 completions flat YoY.
Croda announces 115p special dividend; ordinary div 49p (+6.55); FY revenues £1.39B, in-line (+1.8%), adj. operating profit £342.5m (+3.1%), just below consensus £345.6B; pre-tax profit +3.5% also misses estimates, free cash flow +57.7%; global conditions remain challenging.
Fresnillo FY adj. revenue +0.5%, EBITDA -13.7%, pre-tax profit -34.7% after higher stripping ratio at Herradura, inflation and depreciation. Interim dividend +27.7%, but final dividend -22.8% (making est. FY div. -8.6%). Sees another challenging year ahead, with higher inflation, lower metals prices and higher depreciation costs. Cuts 2019 silver production guidance.
Meggitt FY results beat ests; orders +8% (+12% organic), revenues +4% (+9% org), underlying op. profit +4%, free cash flow -15%, final dividend +5%; on-track for 2021 targets; Civil aerospace and US defense outlook positive (+4-6% organic); sees 2019 group revenues +3-5% organic.
Babcock trading in-line, FY profits guidance (-3%) unchanged. Notes extra Brexit costs and to book a £10m one-off tax cost and extra £10m ongoing cost per year. Order book & pipeline +3.2% YoY.
Travis Perkins 2018 revenues +4.8% (4.9% like-for-like), adj. operating profit -1.3% (-0.9% ex property profits; H2 +10.7%), adj. pre-tax +1.2%, final div +3.3%; 2019 adj. op. profit seen similar.
(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 |
| ASSOCIATED BRITISH FOODS | ABF | -2.2% | 0.6% | -3.3% |
| PERSIMMON | PSN | -4.4% | -4.1% | -8.0% |
| HISCOX | HSX | 2.9% | 3.4% | -0.7% |
| PROVIDENT FINANCIAL | PFG | 19.3% | 21.1% | 9.5% |
| HAMMERSON | HMSO | 0.0% | 0.5% | -4.2% |
| CENTAMIN | CEY | -28.5% | -0.6% | -30.2% |
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Prepared by Michael van Dulken, Head of Research